PHILADELPHIA, PA — Alterra IOS announced a sharp increase in leasing activity across its portfolio during the second and third quarters of 2025, signing 30 new leases and renewals totaling more than 140 usable acres and nearly 260,000 square feet of building improvements. The company attributed this growth to continued tenant demand in industrial outdoor storage (IOS) properties, particularly in the logistics and transportation markets nationwide.
The leases, spanning 23 markets in 21 states, included 18 new agreements and 12 renewals with tenants ranging from national logistics providers to publicly traded companies in renewable energy, waste management, manufacturing and specialty construction. The activity strengthens Alterra’s market position as a leading acquirer and operator in the growing IOS asset class.
“Leasing activity over the past two quarters has remained resilient despite broader economic uncertainty, with 30 new leases and renewals executed on the Alterra IOS platform,” said Matt Pfeiffer, managing partner and chief investment officer of Alterra IOS. “These results validate our thesis of constrained supply coupled with sustainable demand driven by infrastructure and e-commerce. Alterra is well positioned to capitalize on this market dynamic as we strategically expand our portfolio of critical IOS assets in target markets.”
Expanding National Footprint
Much of the leasing momentum has been focused on key logistics hubs such as Atlanta, Kansas City and Orlando, reflecting continued tenant demand in regions with access to major transportation corridors and growing infrastructure investments.
Among the new leases were:
- Atlanta MSA: Four leases totaling nearly 35 usable acres, including agreements with a national logistics company, a data center developer, a truck body manufacturer and a waste management provider.
- Kansas City MSA: A 22.5-acre lease with a publicly traded global automaker.
- Las Vegas MSA: A 4.0 acre site leased to a national automotive retailer.
- Minneapolis MSA: A 4.5 acre lease to a global renewable energy company.
- Orlando MSA: Two leases totaling 11.1 acres to companies specializing in transportation engineering and infrastructure construction.
Additional deals were completed in the Boston, Charleston, Chicago, Phoenix, Providence, Seattle and Tampa markets.
Market leadership in a growing sector
Alterra IOS has now acquired more than 400 properties in 37 states, solidifying its status as the leading institutional buyer in a historically fragmented industry. The company’s vertically integrated model allows it to serve a wide range of industries requiring flexible storage for heavy equipment, vehicle fleets, containers and construction materials.
Alterra’s investment strategy targets infill and transportation-related markets that provide strategic access to major population centers and logistics networks. The company’s rapid leasing performance this year reflects the ongoing institutionalization of the IOS market, which continues to attract capital and long-term occupiers amid changing supply chain dynamics.
While demand for outdoor industrial space remains strong and supply limited, Alterra IOS expects continued growth through 2025 as companies seek well-located, scalable real estate to support logistics, fleet and infrastructure operations.
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