Realterm buys Chicago IOS, Anaheim lands $26M bridge loan

Realterm acquired a fully leased Chicago-area IOS maintenance facility in Bridgeview, while North Palisade Partners secured $26 million of bridge financing on a fully leased Anaheim secured parking asset. Orange County market commentary reinforced the same theme: usable outdoor land remains scarce, functional, and increasingly valuable.

🔥 The Headliner: Realterm adds Chicago-area IOS

Realterm expanded its Midwest IOS footprint with the acquisition of 9655 Industrial Drive in Bridgeview, Illinois. The 3.9-acre site includes a 28,985-square-foot maintenance facility, 10 oversized drive-in doors, and a 6,000-square-foot office.

**Purchase Price:** Undisclosed
**Property:** 9655 Industrial Drive, Bridgeview, Illinois
**Site:** 3.9 acres | 28,985 SF maintenance facility
**Tenant:** Carrier Corporation
**Buyer Lead:** Ed Brickley, Managing Director and Senior Fund Manager, Realterm; Gianni Vissat, Vice President, Investments, Central Region, Realterm
**Seller Lead:** Not yet disclosed
**Broker / Deal Team:** Matt Knafel, KWILL Real Estate, represented Realterm

🔥 Other Deals That Closed or Financed (May 8-May 11)

DEAL #2: ANAHEIM, CA

North Palisade Partners secured $26 million of bridge financing for a Class A industrial outdoor storage facility at 1477 N. Jefferson St. The 7.75-acre secured parking site is fully leased to a Fortune 100 logistics company and supports two nearby distribution centers.

**Property:** 1477 N. Jefferson St., Anaheim, CA
**Site:** 7.75 acres
**Improvements:** 337,590 SF site area with 161 trailer parking stalls
**Financing:** $26 million bridge loan
**Key Features:** Fully leased secured parking, two ingress and egress points, immediate access to SR-91, SR-57, SR-90, and roughly 33-mile access to the Ports of Long Beach and Los Angeles.
**Borrower:** North Palisade Partners
**Capital Markets Team:** Peter Thompson, Senior Director, JLL Capital Markets; Kyle White, Associate, JLL Capital Markets; Nick Englhard, Analyst, JLL Capital Markets

📊 Market Intel Spotlight: Orange County, CA

Orange County remains a clear example of why infill IOS is difficult to replace. Yard demand is being driven by logistics users, contractors, equipment rental operators, and service businesses, while zoning constraints and built-out land supply keep new outdoor storage supply limited.

**Supply:** Fixed or shrinking in many infill submarkets because properly zoned outdoor storage land is scarce.
**Demand Drivers:** Trailer parking, container staging, equipment storage, contractor yards, and service fleet operations.
**Tenant Priority:** Usability, security, access, and proximity to customers matter more than polished building quality.
**Value Signal:** Existing yard space can carry outsized value when it solves immediate operational constraints.
**Local Expert:** Allen C. Buchanan, Principal, Lee & Associates Commercial Real Estate Services

📈 Operating Context

Infill logistics users keep validating secured parking

The Anaheim financing underscores how lenders are underwriting IOS tied directly to operational logistics demand. A fully leased secured parking asset serving nearby distribution centers can support institutional debt when location, tenancy, and access align.

**Practical takeaway:** For IOS owners, documented tenant mission-criticality and transportation access remain the cleanest path to capital.

📬 Get Your Deal Featured

Closed an IOS deal, lease, refinance, or development milestone? Send IOSJournal the address, acreage, building SF, yard specs, buyer, seller, tenant, and full deal team so we can feature it in the next issue.