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- Alterra IOS Acquires Four Houston-Area Properties Totaling 17 Acres
Alterra IOS Acquires Four Houston-Area Properties Totaling 17 Acres
Slice of Real Estate Team
September 18, 2024
Key Highlights:
Alterra IOS acquires four IOS properties across 17 acres in the Houston area.
Sites strategically located near major highways, shipping ports, and airports.
Properties include 8121 & 8223 Parkside Avenue, 5100 Underwood Road, and 9002 Wayfarer Lane.
Sale-leaseback agreement at 5100 Underwood Road demonstrates tenant confidence in Alterra's management.
New site improvements and marketing efforts are underway to attract tenants.
Source: Business Wire
Notable Quote:
"Alterra has placed a continued emphasis on IOS sites in the Houston market that are proximate to the critical infrastructure and highways that service both the global economy and one of the nation’s largest MSAs."
Our Take:
The acquisition of these Houston-based properties solidifies Alterra IOS's strategy of expanding in high-demand industrial outdoor storage markets. With Houston being a key logistics hub, these sites' proximity to ports, rail, and highways will be highly appealing to tenants in logistics, transportation, and other industrial sectors. Alterra's commitment to site improvements and strong tenant relationships further cements its position as a leading player in the IOS sector. This acquisition also showcases the effectiveness of sale-leaseback strategies, enhancing liquidity while retaining long-term tenant partnerships.