PHILADELPHIA, PA — Alterra IOS announced a surge 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 the growth to continued tenant demand in industrial outdoor storage (IOS) properties, particularly within 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 firms in renewable energy, waste management, manufacturing, and specialty construction. The activity reinforces Alterra’s market position as a leading acquirer and operator in the expanding IOS asset class.
“Leasing activity over the past two quarters has remained resilient despite broader economic uncertainty, with 30 new leases and renewals executed across the Alterra IOS platform,” said Matt Pfeiffer, Managing Partner and Chief Investment Officer of Alterra IOS. “These results validate our thesis of constrained supply paired with durable demand driven by infrastructure and e-commerce. Alterra is well-positioned to capitalize on these market dynamics as we strategically expand our portfolio of mission-critical IOS assets in target markets.”
Expanding National Footprint
Much of the leasing momentum was concentrated in key logistics hubs such as Atlanta, Kansas City, and Orlando, reflecting consistent tenant demand in regions with access to major transportation corridors and growing infrastructure investment.
Among the new leases were:
- Atlanta MSA: Four leases totaling nearly 35 usable acres, including agreements with a national logistics firm, 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 automobile manufacturer.
- Las Vegas MSA: A 4.0-acre site leased to a national automobile retailer.
- Minneapolis MSA: A 4.5-acre lease to a global renewable energy production company.
- Orlando MSA: Two leases totaling 11.1 acres to firms 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 across 37 states, further cementing its status as the leading institutional buyer in a historically fragmented sector. 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-linked markets that provide strategic access to major population centers and logistics networks. The firm’s rapid leasing performance this year reflects the ongoing institutionalization of the IOS market, which continues to attract capital and long-term occupiers amid evolving supply chain dynamics.
With demand for outdoor industrial space remaining 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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