$150M Brennan-Barings facility seeds IOS aggregation

October 1, 2026 · 11 min read · Industrial Outdoor Storage

IOS Market Pulse: Sep 28-Oct 1, 2026

🏗️ The Headliner: $150M IOS acquisition facility

Brennan-Barings venture gains new aggregation capital

The facility is built to add qualifying IOS assets during the initial term, with capacity for tenant improvements, leasing costs and capital expenditures. The seed portfolio already spans Denver, Houston and Austin, putting institutional debt behind a multi-market low-coverage strategy.

Transaction Details:

• Purchase Price: $150 million acquisition credit facility

• Property: Five-property seed portfolio in Denver, Houston and Austin

• Site: Low-coverage IOS portfolio | SF not disclosed

• Seller: Not yet disclosed

• Buyer Lead: Not yet disclosed

• Seller Lead: Not yet disclosed

• Broker / Deal Team: Lucas Borges, Managing Director, Matthew Schoenfeldt, Senior Managing Director, Sam Tarter, Director, Emma Berner, Senior Analyst, and Ryan Planek, Senior Analyst, JLL Capital Markets

The rail and real estate platform added land near Thornton Road and Peters Road for industrial customers serving Phoenix and the Southwest. The acquisition ties IOS yard utility to a broader rail-served real estate buildout.

• Key Features: Phoenix-area industrial users nearby, with future IOS and transload services planned.

• Buyer Lead: Chris Tecu, Senior Vice President, OmniTRAX

• Broker / Deal Team: Not yet disclosed

The Apex acquisition gives Jadian a large service-facility site at 560 Pristine Water Drive with highway access and high-clear shop space. Pricing and seller details were not disclosed.

• Key Features: 44-foot clear height, two oversized drive-in doors and access to US-1 and I-540.

• Buyer Lead: Mason B., Alex Stahl, Nick Harris and Daniel Schuchinsky, Jadian IOS

• Broker / Deal Team: Not yet disclosed

The off-market acquisition covers two Rendon Bloodworth Road properties totaling 13.7 acres. Both sites are fully secured and built around 100% concrete-paved outdoor storage.

• Key Features: Fully secured IOS properties with concrete-paved storage yard area.

• Buyer Lead: Not yet disclosed

• Broker / Deal Team: Andrew Wiesemann and Reid Roden, Matthews; Joseph Cooper and Katrina Kieu, Partners

Alterra's four-property buy adds 12.2 usable acres and 119,808 square feet of warehouse space across Houston, La Porte and Conroe. The acquisitions push the platform's Houston footprint to 39 properties and 338.2 usable acres.

• Key Features: Three properties are fully leased to occupational safety, construction and equipment rental users.

• Buyer Lead: Bo Ricks, Vice President of Acquisitions, Alterra IOS

• Broker / Deal Team: Zane Carman, Partners Real Estate; Luke Hoyl and TJ Giselbach, Virtue Real Estate Partners; Avery Levy and Mitchel Becker, Lee & Associates; David McNevin, CBRE

The acquisition adds a 9.18-acre IOS facility with a mix of open-air manufacturing, service space, office area and stabilized yard. The fenced site has immediate I-69 access.

• Key Features: 5.5 acres of stabilized gravel and asphalt yard with a fully fenced perimeter.

• Buyer Lead: Not yet disclosed

• Broker / Deal Team: Not yet disclosed

The property combines showroom, office, parts storage and rear warehouse space on more than eight acres. The yard component gives the asset generous outdoor storage capacity in addition to loading functionality.

• Key Features: Drive-in and tailgate loading doors with substantial outdoor storage area.

• Buyer Lead: Not yet disclosed

• Broker / Deal Team: Freedom CRE represented the buyer; individual brokers not yet disclosed

The DMV acquisition is fully leased to Bay Crane Mid-Atlantic and pairs a 103,000-square-foot light industrial building with two acres of IOS land. The site also supports outside storage and trailer parking.

• Key Features: Two acres of outside storage, 18- to 22-foot clear heights, 11 drive-in doors, three dock doors and paved surface lot area.

• Buyer Lead: Larry Goodwin, Principal, 1788 Holdings

• Broker / Deal Team: Matt Laraway and Luke Wilson, CBRE, represented the seller; 1788 Holdings was self-represented

Terminal Logistics JV I, LP acquired the two-parcel IOS location at 909-913 Professional Place. The asset combines shallow bay and service warehouse space with outdoor storage utility in the Greenbrier submarket.

• Key Features: Two-parcel IOS location with market leasing advisory already in place.

• Buyer Lead: Not yet disclosed

• Broker / Deal Team: Bo McKown and Eric Robison, Cushman & Wakefield | Thalhimer; Geoff Poston, SIOR, and Taylor Anderson, Cushman & Wakefield | Thalhimer

The sale moves a 5.01-acre fenced and gated industrial property along I-10. The facility includes specialized shop features that fit outdoor storage and service users.

• Key Features: Grade-level loading, three-phase power, paint booth, wash bay, crane service and fenced yard.

• Buyer Lead: Not yet disclosed

• Broker / Deal Team: Colin McLellan, Jake Esparza and Cullen Mills, Llano Realty Partners, represented the buyer; Outpost Partners represented the seller

The 4.2-acre infill IOS acquisition includes a maintenance building and bus storage use. The location sits in a transportation corridor with access to I-110, I-105, I-10 and I-405.

• Key Features: Infill bus maintenance and storage use with access to four major Los Angeles freeways.

• Buyer Lead: Not yet disclosed

• Broker / Deal Team: Not yet disclosed

The Inland Empire acquisition gives IOV a 4.08-acre IOS site with an equipment maintenance facility, paved truck court and wash bay. The property is being marketed for lease after property improvements.

• Key Features: Two drive-through bays, three additional 14-foot drive-in doors, 17-foot clear height, paved truck court, wash bay and motorized gate.

• Buyer Lead: Tom Barbera, Nick Firth, Brian Grady, Eric Johnson, Anthony DeLaurentis, Robert Chase, Mike Rotolo, Benjamin Avers, Tina Torossian and David Laser, Industrial Outdoor Ventures

• Broker / Deal Team: Daniel Glazer, Senior Vice President/Principal, and Hank Wiehebrink, Associate, Lee & Associates Commercial Real Estate Services

The Chicagoland IOS property traded after drawing five offers. The sale gives another read on buyer depth for small-format, well-located yard-heavy assets.

• Key Features: Multiple-offer process for a Chicagoland IOS asset.

• Buyer Lead: Not yet disclosed

• Broker / Deal Team: Dione Durham, Paul Cawthon, Angelo Labriola and Jess Lawhead, SVN Chicago Commercial

The industrial facility sits near I-80 and I-29 and includes fenced outdoor storage in addition to shop functionality. Dock and drive-in loading broaden the user profile.

• Key Features: More than 10,000 square feet of fenced outdoor storage plus dock loading, drive-in loading and two cranes.

• Buyer Lead: Not yet disclosed

• Broker / Deal Team: Benjamin Pearson and Daniel Dutton, Lee & Associates, represented the seller

Steel Peak added a 2.09-acre Phoenix IOS property with shop and canopy improvements. The acquisition extends its Southwest yard strategy into another infill Phoenix location.

• Key Features: IOS property with shop and canopy improvements.

• Buyer Lead: Aaron Gill, Blake Rodgers and Pasha Johnson, Steel Peak Properties

• Broker / Deal Team: Chris Reese, Colliers, represented Steel Peak

The buyer plans to pursue a conditional use permit to convert the former heavy-industrial site to IOS use. The property totals approximately 87,421 square feet across Carlin Street and El Segundo Boulevard addresses.

• Key Features: Buyer intends to pursue IOS conversion through a conditional use permit.

• Buyer Lead: Not yet disclosed

• Broker / Deal Team: Brad Levin, Executive Vice President and Principal, DAUM Commercial, represented the seller

The Fort Worth MSA acquisition adds a 13,635-square-foot industrial facility near the I-20 and I-820 interchange. The asset is leased to United Rentals.

• Key Features: Supply-constrained DFW low-coverage asset with an equipment-rental tenant in place.

• Buyer Lead: Gabe Fisher, Titanium Core Capital

• Broker / Deal Team: Not yet disclosed

The industrial yard asset includes M zoning and Property Class I designation. Traffic Management Solutions occupies the West Coast Florida location.

• Key Features: Industrial yard property occupied by Traffic Management Solutions.

• Buyer Lead: Not yet disclosed

• Broker / Deal Team: Not yet disclosed

The Leander sale adds another Central Texas yard transaction to the window. Property size, pricing, buyer and seller details have not been disclosed.

• Key Features: Off-market Central Texas transaction.

• Buyer Lead: Not yet disclosed

• Broker / Deal Team: Carson Byrd, Llano Realty Partners

CORPUS CHRISTI, TEXAS: PK Companies takes Wildcat Industrial Park facility

• Property: 1222 Cathead Road

• Site: 4.25 acres

• Improvements: 10,902 SF crane-ready industrial warehouse

• Tenant: PK Companies Group

• Landlord: Humpal Real Estate, Ltd.

• Landlord Rep: Scott Fauver, Cravey Real Estate Services

• Tenant Rep: Stephanie Hastings

BOISE, IDAHO: 9-acre yard leases near Micron

• Property: 4600 South Apple Street

• Site: 9 acres

• Improvements: 18,000 SF warehouse with heavy power and two overhead cranes

• Tenant: Not yet disclosed

• Landlord: Albany Road Real Estate Partners

• Landlord Rep: Luke Colbert and Gray Williams, Albany Road Real Estate Partners

• Tenant Rep: Jack Cosca and Cooper Arnold, Colliers; Alexander Hegner also named on the lease team

FORT WORTH, TEXAS: Paragon Pro Rentals leases Lot 1

• Property: 5701 Parker Henderson Road

• Site: 5 acres

• Improvements: 10,500 SF industrial building

• Tenant: Paragon Pro Rentals

• Landlord: CanTex Capital

• Landlord Rep: Alex Wilson and Schaefer Amos, Lee & Associates Dallas/Fort Worth; Jay Malhan, CanTex Capital

• Tenant Rep: Jarrett Huge, Lee & Associates

BLUE ISLAND, ILLINOIS: Beverly Freight leases truck terminal

• Property: 3301 Wireton Road, Units 101 and 105

• Site: Not yet disclosed

• Improvements: 40,116 SF truck terminal

• Tenant: Beverly Freight, Inc.

• Landlord: Wireton 3301, LLC

• Landlord Rep: Colin Green, CBRE

• Tenant Rep: Sean Austin, Principal, Lee & Associates of Illinois

BOISE, IDAHO: AT Industrial leases full Federal Way IOS site

• Property: 10206 S Federal Way

• Site: 5.76 acres

• Improvements: Industrial yard opportunity; building SF not yet disclosed

• Tenant: AT Industrial Co

• Landlord: Not yet disclosed

• Landlord Rep: Austin Hopkins and Matt Mahoney, Lee & Associates Idaho, LLC

• Tenant Rep: Not yet disclosed

LAUREL, MARYLAND: 13400 Baltimore Avenue lease closes

• Property: 13400 Baltimore Avenue

• Site: Not yet disclosed

• Improvements: Not yet disclosed

• Tenant: Not yet disclosed

• Landlord: Not yet disclosed

• Landlord Rep: Oliver Fryer, Philip Gould and Bryan Herr, MacKenzie Companies

• Tenant Rep: Not yet disclosed

What the Numbers Are Saying

IOS keeps moving from niche allocation to broader institutional industrial strategy. Tenant demand is widening beyond trucking into e-commerce, utilities, infrastructure and data-center-related users, while zoning and entitlement limits still constrain purpose-built supply.

Market Snapshot (September 2026):

• Capital Flow: Institutional capital is taking a larger share of IOS acquisition activity.

• Tenant Demand: E-commerce, utilities, infrastructure and data-center-related users are broadening demand.

• Supply Constraint: Zoning, entitlements, infrastructure limits and municipal restrictions continue to restrict new IOS supply.

• Lender Preference: Diverse IOS portfolios are drawing lender interest as the subsector matures.

Local Expert: Jason Tolliver, President of Americas Logistics and Industrial, Cushman & Wakefield; Devin Schuster, Founder and Managing Partner, Flint Development; Ryan Kavanaugh, Executive Director for Acquisitions, J.P. Morgan Asset Management; Doug Schwartz, Co-President, J.P. Morgan Real Estate Income Trust

🏗️ Adjacent Industrial (IOS-Relevant)

Port Commercial buys 201 E. 28th Street in Charlotte

Port Commercial acquired the 67,151-square-foot industrial facility in Charlotte's NoDa/Optimist Park corridor from International Paper. Ryan Kendall, Chris Skibinski, SIOR, and Nick Claudio of Avison Young represented the seller, and the new ownership is marketing flexible warehouse and outdoor storage opportunities at the asset.

RALEIGH, NORTH CAROLINA: 2610 Rowland Road

• Approximately 3.38 acres | roughly 4,600 SF facility

• Industrial property combining indoor space with about 2.5 acres of fenced outside storage in Raleigh's North Raleigh trade area.

• Price not yet disclosed

• Brokers: Steve Hill

BALTIMORE, MARYLAND: 6711 Quad Ave

• 2 acres | 2,100 SF drive-in building

• Fenced, paved and lit heavy-industrial contractor yard suitable for trailer or equipment storage.

• Available for sale or lease

• Brokers: Jim Chivers and Will McCullough, Gold and Company

GROVELAND, FLORIDA: 8340 American Way

• 24.06 acres | 46,003 SF improvements

• Turnkey trucking and fleet facility with approximately 20 usable yard acres, paved storage and circulation, secure fencing, lighting and multiple access points.

• Three-to-five-year lease term; rate not yet disclosed

• Brokers: Not yet disclosed

📈 Operating Context

Fort Pierce IOS campus refinanced at $12M

Filler Capital arranged a $12 million refinance for Fort Pierce Industrial Campus, a 41.9-acre truck parking and IOS complex. The five-year bank financing replaces near-term debt and provides additional proceeds for gated, fenced and lit IOS spaces, plus a construction earnout for site improvements.

Practical takeaway: Lenders are still advancing capital for yard-heavy projects when proceeds are tied to functional IOS improvements.

Greater Boston IOS site lands $3M bridge loan

Valencia Realty Capital arranged a $3 million non-recourse bridge loan for a 7-acre IOS site with about 5 usable storage-yard acres and 9,000 square feet of improvements. The 12-month facility priced at SOFR plus 575 and funds debt payoff and tenant improvements.

Practical takeaway: Smaller IOS bridge loans remain active when the collateral has usable yard area and near-term tenant-improvement needs.

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