Alterra Just Spent $49.5M on 10 Truck Terminals

March 4, 2026 · 8 min read · Industrial Outdoor Storage

Alterra acquired a 10-property national truck terminal portfolio for $49.5M — 56 acres total across CT, FL, GA, MD, NC, VA, and WA. Plus infill acquisitions in TX, FL, AZ, VA, and TN.

Alterra Just Spent $49.5M on 10 Truck Terminals. Here's What Happened

IOS Deal Flow Newsletter

Industrial outdoor storage deal flow stayed hot this week, led by Alterra's $49.5M acquisition of a 10-property national truck terminal portfolio. But that's not all. We've also got infill acquisitions across TX, FL, AZ, VA, and TN, plus some fascinating market intel from Grand Rapids showing lease rates averaging $2,500/acre/month and vacancy under 2%. If you're betting on IOS, this is the week that confirms you're not alone.

🚚 The Headliner: $49.5M National Portfolio

Alterra IOS Acquires 10-Property Truck Terminal Portfolio

This is the kind of portfolio that doesn't hit the market often: 10 truck terminals spanning coast to coast, approximately 56 acres total and 227,240 SF, with 9 of 10 properties fully leased at closing. The seller? R+L Carriers, one of the largest freight carriers in the country.

Transaction Details:

• Purchase Price: ~$49,500,000
• Portfolio Size: ~56 acres total, ~227,240 SF total
• Occupancy: 9 of 10 fully leased at closing
• Seller: R+L Carriers
• Deal Lead: Chris White

Portfolio Breakdown

When a portfolio this geographically diverse trades at once, it's a signal that institutional buyers are thinking nationally, not just market by market.

🔥 Other Deals That Closed (Feb 13-18)

DEAL #2: SAN ANTONIO, TEXAS

Deronda Corporation Makes First TX IOS Acquisition

Deronda Corporation entered the Texas market with this I-10 frontage property positioned along the San Antonio to Houston corridor. The company is already implementing a capital improvement plan to reposition the site for logistics tenants.

PROPERTY 7240 I-10, San Antonio, TX

SITE 3.0 acres

IMPROVEMENTS 20,000 SF warehouse

KEY FEATURE Direct I-10 frontage

• Strategy: Capital improvement plan underway to reposition for logistics tenants
• Principal / Deal Lead: Ethan Tucker

DEAL #3: SAN ANTONIO, TEXAS

Alterra IOS Adds 3.55-Acre Infill Site to Portfolio

Alterra continues its San Antonio expansion with this East Side industrial corridor property featuring drive-in bays and 3-phase power.

PROPERTY 458 N WW White Road, San Antonio, TX

SITE 3.55 acres

IMPROVEMENTS 16,833 SF industrial building

ACCESS Near I-10 / Loop 410 / Airport

• Key Features: Drive-in bays, 3-phase power, secure fencing, ample concrete yard
• Deal Team: Jeff Miller, Michael Kelleher

DEAL #4: TUCSON, ARIZONA

Capital Bay Partners Acquires Rail-Served, Credit-Tenant IOS

This is the kind of asset that checks every box: rail-served, credit tenant (US LBM Holdings), direct I-10 access, and fully leased. Hard to find a better stabilized IOS investment.

PROPERTY 450 E Irvington Road, Tucson, AZ

SITE 10.93 acres

IMPROVEMENTS 45,000 SF

TENANT US LBM Holdings (fully leased)

• Key Features: 8 roll-up doors, active rail spur, direct I-10 access
• Deal Team: Jeff Hays, Samuel Rutledge

DEAL #5: NASHVILLE, TENNESSEE

Transport Properties Acquires Fully Leased Industrial CBD Asset

PROPERTY 1120 Foster Avenue, Nashville, TN

SITE 2.84 improved acres

IMPROVEMENTS 15,000 SF warehouse + repair facility

STATUS Fully leased

• Key Features: 9 oversized drive-in doors, secure fencing
• Zoning: Heavy industrial (outdoor storage permitted)
• Brokerage: Lee & Associates (Gary Barbera, Charlie Mintz, Brett Wallach, Bryan Cahill)

DEAL #6: SAN ANTONIO, TEXAS

Hyde Park Commercial Acquires Two Yard-Capable Industrial Assets

Hyde Park picked up a two-asset package focused on service-oriented industrial with yard capacity along Texas logistics corridors.

• Asset A: 2023 FM 1516 - 6.4 acres | 9,300 SF service facility
• Asset B: 15501 Capital Port Dr - 22,000 SF single-tenant industrial

Internal Deal Team: Sameed Gagai, Christian Zyire Ardoin-Dural, Milco Cipriani

DEAL #7: GLEN ALLEN, VIRGINIA

Jadian IOS Acquires Wash Bay + Fully Fenced Yard

PROPERTY 1345 Mountain Road, Glen Allen, VA

SITE 4.0 acres

IMPROVEMENTS 16,500 SF industrial service facility

LOCATION NW Richmond (<1 mile to I-95)

• Key Features: 7 oversized drive-in doors, 24' clear, fully fenced graveled yard, oversized wash bay

DEAL #8: ALTAMONTE SPRINGS, FLORIDA

Provident Partners Buys 15-Acre IOS in Orlando Metro

PROPERTY 580 West Franklin Avenue, Altamonte Springs, FL

SITE 15 acres

IMPROVEMENTS 4 office/warehouse buildings totaling 16,066 SF

• Provident Team: Ben Stewart, Scott Martin
• Brokerage: Brock Holston, Derek Riggleman (Lee & Associates Central Florida)

DEAL #9: AUSTIN, TEXAS

Bay Street Capital Buys 4.95-Acre IOS

PROPERTY 12819 Dessau Road, Austin, TX

SITE 4.95 acres

IMPROVEMENTS 11,000 SF industrial

DEAL LEAD Matthew Wiener

DEAL #10: CAPE CORAL, FLORIDA

Greenspring Closes Off-Market IOS with Strong Frontage

Greenspring Realty Partners continues their off-market acquisition strategy with this Cape Coral property featuring approximately 55,000 vehicles per day on Pine Island Road.

PROPERTY 1044 NE Pine Island Road, Cape Coral, FL

SITE 2.25 acres

IMPROVEMENTS ~10,500 SF industrial building

FRONTAGE Pine Island Rd (~55,000 VPD)

• Key Features: 6 drive-in doors
• Status: Available for lease post-close
• Deal Team: Daniel Flamholz (deal lead), Goral Khatta (leasing)

DEAL #11: PLANO, TEXAS

±3-Acre IOS Facility Trades

PROPERTY 3104 S Rigsbee Drive, Plano, TX

SITE ±3 acres

BROKERAGE Bates Real Estate (Tyler Markwood, Karson Conrad)

📝 Leases Signed

#### MANASSAS, VIRGINIA - 5.2-Acre IOS / Truck Terminal Leased

• Property: 10451 Colonel Court, Manassas, VA
• Site: 5.2 acres
• Improvements: 20,390 SF truck terminal building
• Zoning: I-2 Heavy Industrial
• Landlord: Realterm
• Landlord Rep: Colliers (Clay Ellis, Benjamin Luke, Jay Budin)
• Realterm Lead: Olivia Washburn
• Tenant Rep: JLL (John Dettleff)

📊 Market Intel Spotlight: Grand Rapids, Michigan

What the Numbers Are Saying

Grand Rapids is showing the kind of fundamentals that get institutional buyers excited: tight inventory, steady demand, and pricing that's attractive relative to coastal markets.

#### Market Snapshot (Feb 2026):

• Lease Rates: Roughly $2,000-$3,000 per acre per month (average around $2,500/AC/mo) for leases initiated over the last ~3 years
• Sale Pricing: Roughly $175,000-$250,000 per acre (average around $200,000/AC) for sales over the last ~2 years
• Vacancy: Reported IOS vacancy under ~2%
• Demand Drivers: Contractor, ecommerce, heavy equipment users; LTL presence supports manufacturing-driven freight

Local Expert: Tim Van Noord, Partner at Advantage Commercial Real Estate

#### Featured Yard-Capable Opportunities (Grand Rapids Area):

5685 Comstock Park Dr NW (Comstock Park) ~59,700 SF across 5 buildings on 9.39 acres; rail-served; priced ~$2.4M

1252 142nd Ave (Wayland) BTS ~24,000 SF on ~5.1 acres; fenced yard storage + drive-through access; asking $14.95 PSF NNN

10151 S Division Ave (Byron Center) 65,715 SF cross-dock on ~22.4 acres; 109 dock doors + 6 drive-ins; lease $11.95 PSF NNN or sale ~$9.0M

🏗️ Adjacent Industrial (IOS-Relevant)

#### Midwest Portfolio Buy Includes 27.5-Acre IOS Yard Component

Ambrose Acquires 4 Midwest Industrial Assets (~1.0M SF) for ~$102M

Notable IOS overlap: 2588 Jannetides Blvd (Greenfield, IN) - 512,000 SF facility with 32' clear and a 27.5-acre industrial outdoor storage yard. Partial occupant: Wesco (with space rolling later in 2026).

When adjacent industrial trades include meaningful yard components, it's another signal that outdoor storage is becoming a standard part of the asset class conversation.

📌 Active IOS Listings (Newly Circulating)

#### BALTIMORE, MARYLAND - 6624 Quad Ave

• ~15,000 SF across 2 renovated buildings on 0.991 AC
• I-2 Heavy Industrial zoning
• Asking $4.0M
• Brokers: Jim Chivers, Will McCullough

#### BALTIMORE, MARYLAND - 1031 68th St

• 10+ AC with ~30,000 SF warehouse
• Heavy industrial zoning
• Near I-95 / Port

#### DENVER, COLORADO - 845 S Jason St

• 4.52 AC, fully fenced
• 28,863 SF warehouse (+ office) with 4 drive-ins
• Rail-service potential noted

#### FORT PIERCE, FLORIDA - 1750 S Kings Hwy

• 34.07 AC total; ~15 AC paved
• Gated ingress/egress; utilities to site
• For sale and lease

#### SYRACUSE, NEW YORK (North) - Large-Scale IOS

• ±58 acres; ±602,807 SF
• 24-50' clear height
• 120 trailer spaces; outdoor storage ~620 spaces
• Direct I-90/I-81 access
• For Lease

#### TOLEDO, OHIO - 1336 Matzinger Rd

• 6 AC secured yard (50+ truck/trailer spaces)
• ±10,140 SF terminal building + ±6,000 SF maintenance facility (4 service bays)
• For Lease

#### BRAINTREE, MASSACHUSETTS - 825 Granite St

• 9.14 AC paved/fenced/lit
• Fuel/utilities onsite
• 72,480 SF building; 10 grade-level doors + 3 docks
• 16,000 SF office/locker rooms
• For Lease

#### GREENSBORO, NORTH CAROLINA - Randleman Rd / Farragut St

• Two sites: 5.50 AC and 5.25 AC
• Lease or sale; subdivisible to 1 AC
• High visibility

📈 Operating Context

#### Equipment Rental Demand Continues to Signal Resilient Yard-Intensive End Users

United Rentals reported 2025 total revenue of approximately $16.099B (rental revenue ~$13.086B) and guided to approximately $16.8B-$17.3B for 2026.

Practical takeaway: Steady fleet and contractor activity tends to support infill yard demand and lease renewals. When the equipment rental giants are growing, IOS operators usually benefit.

👥 People Moves

#### Genesis LLC Adds VP, Acquisitions

Alexander Pryor joined as Vice President of Acquisitions with a stated focus on acquiring, repositioning, and developing IOS in Northern NJ (primary) with secondary focus across major East Coast logistics markets, including Atlanta and Jacksonville.

Deal Size Target: 1-20 acres / $5M-$100M

📬 Get Your Deal Featured

Closed an IOS deal (sale, lease, refinance, or development milestone)? We want to feature your deal and team in the next issue.

Send us: - Address + market - Acreage + building SF + doors/yard specs - Buyer/seller/tenant (if discloseable) - Full deal team (brokers, capital markets, title/escrow, attorneys, lender, survey/civil, environmental)