35.2 acres in Memphis: Alterra reaches its tenth IOS buy

October 22, 2026 · 11 min read · Industrial Outdoor Storage

IOS Market Pulse: Oct 19-22, 2026

🏗️ The Headliner: 35.2 usable acres in Memphis

Alterra IOS closes its tenth Memphis-area acquisition

Alterra IOS acquired the fully leased yard at 5660 Universal Drive, extending its Memphis cluster to ten acquisitions. The acquisition configuration includes 35.2 usable acres and 33,000 SF of improvements, with access to I-55, I-240, Memphis International Airport and the BNSF intermodal yard. The October acquisition announcement follows an earlier sale; the closing date is not yet disclosed.

Transaction Details:

Purchase Price: $8.5 million

Property: 5660 Universal Drive, Memphis, Tennessee

Site: 35.2 usable acres | 33,000 SF of improvements

Seller: Not yet disclosed

Buyer Lead: Parker Pearson and E. Liam Loftus , Alterra IOS

Broker / Deal Team: Buyer broker: Ben Ricketts , Colliers; seller broker: Chris Watson , ReMax Commercial.

Bridge Logistics Properties acquired the 21.3-acre terminal in the Los Angeles metro. The site pairs a large freight facility with outdoor yard capacity in Santa Fe Springs.

Key Features: Terminal and yard configuration for logistics operations.

Broker / Deal Team: advisor: Jace Gan , Colliers; advisor: Clyde Stauff , Colliers

TA Realty acquired an 11.3-acre Greensboro property for $8 million. The IOS-related acquisition adds a North Carolina site for the Boston-based investor.

Key Features: Street address and property improvements are not yet independently confirmed for this transaction.

A BrightView Landscapes-leased IOS property sold in Windsor Locks. Charlie Anderson led the Marcus & Millichap team on the disposition.

Key Features: Landscape-services tenant and multiple industrial buildings.

Broker / Deal Team: seller broker: Charlie Anderson , Marcus & Millichap; seller broker: David Houston , Marcus & Millichap; seller broker: Sharon Monagas , Marcus & Millichap

Bricktop Capital acquired the Hicks Field Road IOS property with three tenants and full occupancy at closing. Newmark sourced and helped close the opportunity.

Key Features: 100% leased to three tenants at closing.

Broker / Deal Team: advisor: Reid Halverson , Senior Managing Director, Newmark; advisor: Peyton Flaherty , Newmark; advisor: Greer Shetler , Newmark

Catalyst Investment Partners acquired a 2.63-acre IOS property in Pawtucket. JLL facilitated the transaction, with Matthew Heaney leading the Catalyst team.

Key Features: Industrial building with IOS acreage.

Buyer Lead: Matthew Heaney , Catalyst Investment Partners

Broker / Deal Team: advisor: David Coffman , JLL; advisor: Michael Restivo , JLL; advisor: Tommy Hovey , JLL; advisor: Alison Howard , JLL

A local owner-user bought the outdoor-storage-equipped property for its second Colorado location. The sale closed August 18 and was publicized in October, at approximately $173 per SF.

Key Features: Outdoor storage plus warehouse space. Maritza Torres, RE/MAX Professionals, was the listing agent; the seller's closing representative is not yet confirmed.

Broker / Deal Team: buyer broker: Pete Foster , Senior Commercial Real Estate Advisor, Madison Commercial Properties; other: Maritza Torres , Listing agent, RE/MAX Professionals

Grand Prairie, Texas: IG Logistics leases 35 acres to two logistics users

Property: 4226 East Main Street

Site: 35 acres

Improvements: 1,000 SF truck terminal building

Tenant: Two Fortune 100 logistics companies; names: Not yet disclosed

Landlord: IG Logistics

Landlord Rep: David Guinn , Davidson Bogel Real Estate; Martin Grossman , Davidson Bogel Real Estate; Jon Dandurand , Burr & Temkin

Goodyear, Arizona: Englund Equipment leases 6.17 acres

Property: 597-599 South Litchfield Road

Site: 6.17 acres

Improvements: 17,043 SF office/warehouse

Tenant: Englund Equipment Co.

Landlord: P&B Holdings LLC

Landlord Rep: Deal team: Jeff Hays , Commercial Properties Inc.; Samuel Rutledge , Commercial Properties Inc.

What the Numbers Are Saying

Newmark launched a U.S.-and-Canada IOS practice covering leasing, occupier services, investment sales, financing, M&A and sale-leasebacks. Its research places historical IOS rent growth above bulk warehouses and midyear vacancy below the broader industrial market.

Market Snapshot (October 2026 release; historical periods below):

Lease Rates: Dollar range: Not yet disclosed; cumulative IOS rent growth: 123% during 2020-2025

Sale Pricing: Not yet disclosed

Vacancy: 5.8% for IOS at midyear 2026, versus 7.4% for industrial overall

Demand Drivers: Truck terminals, fleet parking, storage yards and service facilities; estimated U.S. inventory of 1.4 million acres; zoning and entitlement constraints

Local Expert: Adam Petrillo , Executive Managing Director, Newmark; Jerry Hopkins , Executive Managing Director, Newmark; Reid Halverson , Senior Managing Director, Newmark; Steve Korfiatis , Managing Director, Newmark; Mike Viehmann , Managing Director, Newmark; Cam Warren , Managing Director, Newmark; Jack Fraker , President, Global Head of Industrial & Logistics, Capital Markets, Newmark; Stephen Bailey , Vice Chairman and Co-Head of Texas Capital Markets, Newmark

$5.48 billion across 26 large IOS financings

Vytas Norusis , Executive Vice President and National IOS Practice Lead at Partner Valuation Advisors, reviewed 26 announced financings above $75 million across 2025 and year-to-date 2026. They total approximately $5.48 billion, with about 73% of volume in 2026. His new report examines pledges of ownership interests in property-owning entities as collateral for scaled portfolios. This is financing research, rather than a newly closed loan.

Practical takeaway: For large, diversified portfolios, equity pledges can reduce property-level mortgage administration; traditional mortgages remain relevant, and senior equity-pledge structures differ from junior mezzanine debt.

🏗️ Adjacent Industrial (IOS-Relevant)

Chattanooga, Tennessee: proposed $500,000 Peerless Mill transfer

Tyler Cauble , The Cauble Group, proposes moving Building 21 from the existing Peerless Mill partnership into a new partnership with Dave Codre and the Greenleaf team. Cauble participates in both partnerships. The proposed $500,000 transfer covers approximately 43,000 SF on 2.5 acres, with an IOS laydown yard central to the plan. Underwriting estimates include a $400,000 replacement roof, yard rent near $3,000 per acre monthly and approximately $160,000 annual NOI. The transfer would recapitalize the mill, reduce debt and fund development. These are proposed terms and estimates.

Logan Township, New Jersey: 83 Floodgate Road

Approximately 20 acres; divisible to one acre | Building SF: Not yet disclosed

For lease: aggregate-surfaced, fenced IOS land less than three minutes from NJ-295 and about ten minutes from the Commodore Barry Bridge.

Asking rent: Not yet disclosed

Brokers: David Smith ; Paul French ; William Ciarlone

Portland, Oregon: 5925 NE Lombard Street portfolio

Acreage: Not yet disclosed | 34,138 SF of improvements across five parcels

For sale: an IOS campus for diesel repair, fleet maintenance, automotive and contractor-yard users, combining secured storage with warehouse and shop space.

$4.175 million asking price

Brokers: Tom Knecht , Colliers; Jerry Matson , Colliers; Brian Yoakum , Colliers

Apopka, Florida: 2060 Apopka Boulevard

Approximately 4.99 acres | 6,284 SF warehouse

For lease: warehouse and outdoor yard. Lease term and ownership: Not yet disclosed.

Asking rent: Not yet disclosed

Brokers: Mark Williams

Greensboro, North Carolina: 2511 Greengate Drive

4.06 acres | Building SF: Not yet disclosed

For lease: fully graded and fenced LI-zoned IOS site, utilities and curb cuts in place, shared gated access and a 50-foot cross-access easement; less than 1.5 miles from I-40 and I-85.

Asking rent: Not yet disclosed

Brokers: David Stroud , Senior Vice President, Industrial, APG Companies

Conyers, Georgia: 2221 Old Covington Highway

One to 3.8 acres | Building SF: Not yet disclosed

For lease: M1-zoned IOS land off I-20 and Sigman Road. Tenants may fence, gravel and light the site as needed.

Negotiable net lease terms; numerical asking rent: Not yet disclosed

Brokers: Nick Fitzpatrick , Cumberland & Worthy

Jacksonville, Florida: 2031 W. 33rd Street

2.4 acres | Building SF: Not yet disclosed

For lease, immediately available: crushed-rock and asphalt-millings yard, chain-link fencing, a 20-foot rolling gate and utilities for an office trailer. Marketed for fleet, trailer, contractor and equipment storage.

Asking rent: Not yet disclosed

Brokers: Eric Bumgarner ; Michael Cassidy ; Gordon Olson

Hyattsville, Maryland: 5800-5810 Arbor Street

1.57 acres | Building SF: Not yet disclosed

For sale: fenced and secured gravel contractor-yard assemblage with LTO-C zoning, potential redevelopment and access to Route 50, I-495 and Route 295. Utilities can be made available.

Asking price: Not yet disclosed

Brokers: Michael Isen ; Michael DiMeglio

Miami, Florida: 3200 NW 67th Avenue

Approximately 1.2 acres | Building SF: Not yet disclosed

For lease: paved IOS and parking outparcel accommodating approximately 20 trailers, with 24-hour security at South Florida Logistics Center. Foreign Trade Zone No. 281 designation and direct airport cargo-hub access; retail and auto sales excluded.

Asking rent: Not yet disclosed

Brokers: Carlos Velasquez , VSRE; Raydel Enriquez , VSRE; Raul Estrada , VSRE; Andrea Montejo , VSRE

Hyattsville, Maryland: 5815 Arbor Street

1.07 acres | Approximately 11,600 SF industrial building

For sale: paved, fenced and secured yards on both sides of the building, direct yard access, two storage sheds, drive-in loading and approximately 1,200 SF of second-floor office. LTO-C zoning; backs to Route 50.

Asking price: Not yet disclosed

Brokers: Michael Isen ; Michael DiMeglio

Auburn, Washington: 2420 A Street SE

Approximately 0.87 acre | Approximately 4,890 SF planned warehouse and office

For lease: planned paved and fenced yard/parking of approximately 26,300 SF, or 0.60 acre, plus 14 parking stalls and a build-to-suit office component. Construction completion scheduled for Q1 2027.

NNN lease; asking rent: Not yet disclosed

Brokers: Mike Newton , NAI Puget Sound Properties

La Porte, Texas: 10819 W. Fairmont Parkway

0.85 acre | Approximately 8,400 SF office-warehouse

For lease: approximately 6,800 SF of fenced outdoor storage and one 10-by-14-foot overhead door. Existing layout is approximately 7,400 SF office and 1,000 SF warehouse, with conversion potential. Available April 1, 2027, potentially sooner.

Asking rent: Not yet disclosed

Brokers: Dan LaGree ; Jackson Arnold

Washington, DC: 3020 Yost Place NE

Approximately 0.19 acre | Approximately 3,069 SF warehouse

For lease: paved site with fenced outdoor storage and dedicated parking, conditioned office/warehouse, approximately 12.5-foot clear ceilings and two drive-in doors. PDR-1 zoning near the Bladensburg Road corridor.

$9,720 per month asking rent

Brokers: Michael DiMeglio

Baltimore, Maryland: 4241 Brookhill Road

Yard acreage: Not yet disclosed | 129,152 SF warehouse

For lease: fenced, gated outdoor storage supports logistics, distribution, storage and manufacturing. Building includes approximately 16-foot clear ceilings, 17 loading docks and 4,000 SF of office space.

$8.50 per SF annually, NNN

Brokers: Marcus N. Daniels , NAI Michael; Brady Thompson , NAI Michael; Peter Burleigh , NAI Michael

Stamford, Connecticut: 316 Courtland Avenue

Yard acreage: Not yet disclosed | Separate second-floor space: 3,500 SF

For lease: outdoor storage with immediate availability. Yard measurements remain unconfirmed because the offering uses inconsistent area units; the separate second-floor space is not yard area.

Asking rent: Not yet disclosed

Brokers: David Richman , Rakow Commercial Realty Group; Jeremy Schwartz , Simone Development; Joshua J. Gopan , Simone Development

📈 Operating Context

United Rentals: rental revenue rises 17.8% to $4.316 billion

Matthew Flannery , Chief Executive Officer of United Rentals, leads a business with third-quarter total revenue of $4.893 billion and rental revenue of $4.316 billion. Rental revenue rose 17.8% year over year and fleet productivity increased 6.5%. The 2026 outlook increased to $18.0-$18.2 billion of revenue and $8.3-$8.4 billion of adjusted EBITDA.

Practical takeaway: Equipment-rental performance supports tenant analysis, but these results establish no specific yard expansion.

TRAFFIX: budget for 5%-8% higher truckload linehaul rates in 2027

Alex Fuller , Vice President of Commercial Intelligence at TRAFFIX, identifies constrained fleet capacity as the driver of rate pressure while freight demand remains roughly flat. The base-case budget calls for 5%-8% higher full-year 2027 linehaul rates. Contract rates are about 10% above spring levels; annualizing late-2026 rates implies 4%-5% inflation before further increases.

Practical takeaway: Test fleet tenants' margins against higher transport costs without assuming higher rates mean more freight volume.

Truck tonnage rises 0.8% in September; annual growth stays flat

Bob Costello , Chief Economist at American Trucking Associations, tracks a September For-Hire Truck Tonnage Index of 114, up 0.8% after August's 0.2% decline. Tonnage was unchanged year over year and up 0.9% year to date. The third quarter remained lower both sequentially and year over year while capacity contracted.

Practical takeaway: Separate changes in freight volume from capacity-driven pricing when underwriting truck-terminal and fleet-yard demand.

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