{"id":1004636652,"date":"2022-12-22T04:09:22","date_gmt":"2022-12-22T12:09:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004636652"},"modified":"2022-12-22T06:30:08","modified_gmt":"2022-12-22T14:30:08","slug":"alterra-ios-acquires-14-properties-in-86m-sale-leaseback","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/","title":{"rendered":"Alterra IOS Pays $86M for Outdoor Storage Portfolio"},"content":{"rendered":"
\"Heniff<\/a>

Heniff Transportation Systems location. Image courtesy of Alterra IOS Manager<\/p><\/div>\n

Philadelphia-based Alterra IOS Manager<\/strong>, on behalf of its discretionary private equity real estate client, has acquired a 14-property portfolio of industrial outdoor storage assets across eight states for more than $86 million in a sale-leaseback deal with Heniff Transportation Systems<\/strong> LLC.<\/p>\n

The portfolio is fully leased by Heniff, a national bulk transportation provider with nearly 100 locations across the U.S. Heniff offers customers a wide range of services including tank, rail transload, ISO depot, cleaning and maintenance solutions.<\/p>\n

Matthew Pfeiffer, managing partner at Alterra IOS, said in a prepared statement the Heniff sale-leaseback is a great example of Alterra utilizing its fully discretionary fund to close a complicated transaction on a defined time period for a national tenant that needed capital to finalize its bolt-on acquisition.<\/p>\n

\n

READ ALSO<\/strong>: Trends That Will Shape Industrial Real Estate in 2023<\/a><\/p>\n

\n

The eight states in the portfolio are Florida, Georgia, Illinois, Ohio, Tennessee, Texas, Louisiana and Alabama. The 14 mission-critical locations serve as terminals, maintenance shops and transload facilities in key industrial markets including Savannah, Ga.; Chicago; Dallas-Fort Worth; Houston; Memphis, Tenn.; Cincinnati; Mobile, Ala.; Lakeland, Fla.; and Lake Charles, La.<\/p>\n

Parker Pearson, vice president of Alterra IOS, said in a prepared statement the properties are critical infrastructure assets located in key logistics markets across the Central and Southeast U.S. He said the firm is excited to grow their relationship with the Heniff team as they expand their business.<\/p>\n

Bob Heniff, founder & CEO of Heniff Transportation, said in prepared remarks Heniff sought a counterparty that provided a certainty of execution to complete a strategic acquisition. Citing the volatility of the capital markets and interest rate fluctuations, Heniff said it was imperative to work with a group that has full discretion over its capital and deal directly with key decision makers to get to closing.<\/p>\n

IOS is growing<\/strong><\/h2>\n

Alterra was one of the early entrants in the growing IOS subsector<\/a> within the industrial property sector, having launched its strategy in 2016. Alterra Property Group closed its Alterra IOS Venture II LP fund in March with $524 million in total commitments<\/a>, well beyond its original fundraising goal of $400 million.<\/p>\n

Over the past six years, APG IOS has created tenant relationships in the transportation and logistics, vehicle storage, equipment rental, building materials industries through the acquisition or development of more than 150 properties across 30 states. Sale lease-back transactions like the Heniff deal is one of its IOS strategies used to grow its platform.<\/p>\n

IOS has gone from being a niche often owned by small private investors and mom-and-pop operators to a market estimated at $200 billion\u2014and growing. During the past three years, IOS has been increasingly attracting the interest of institutional investors and private equity funds. Demand for IOS grew during the pandemic as e-commerce exploded and continues to be a significant part of the supply chain, as more businesses seek locations for last-mile delivery and also want to be near ports and major industrial corridors. Trucking and truck parking are the heaviest users, particularly by third-party logistics companies.<\/p>\n

Heniff deal locations<\/strong><\/h2>\n

Three of the properties in the Alterra IOS sale-leaseback deal with Heniff are in Texas, with two in the DFW market and one in the Houston industrial market: 12520 Bay Area Blvd., Pasadena, Texas, 7.32 acres; 15855 Wood Drive, Channelview, Texas, 8.94 acres; and 716 110th St., Arlington, Texas, 4.31 acres. Two are in the Savannah port area of Garden City, Ga., including 6031 Commerce Court, 5.91 acres, and 6053 Commerce Court, 4.17 acres.<\/p>\n

The remaining properties are:<\/p>\n

    \n
  • 3233 W. 167th St., Hazel Crest, Ill.; 19.5 acres (Chicago market)<\/li>\n
  • 2223 Hollywood Road, Joliet, Ill.; 8.75 acres (Chicago market)<\/li>\n
  • 2023 Tanker Drive, Sulphur, La.; 7.07 acres (Lake Charles market)<\/li>\n
  • 1198 Radcliff Road, Creola, Ala.; 9.97 acres (Mobile market)<\/li>\n
  • 206 Telegraph Road, Prichard, Ala.; 9.36 acres (Mobile market)<\/li>\n
  • 4963 Provident Drive, West Chester, Ohio; 6.46 acres (Cincinnati market)<\/li>\n
  • 3020 Kathleen Road, Lakeland.; 7.68 acres<\/li>\n
  • 1897 Harbor Ave., Memphis; 3.55 acres<\/li>\n
  • 2459 Channel Ave., Memphis; 35 acres<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    The deal includes industrial assets in eight states.<\/p>\n","protected":false},"author":1068,"featured_media":1004636695,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,23891,21742],"tags":[],"class_list":["post-1004636652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-national","category-latest"],"acf":[],"yoast_head":"\nAlterra IOS Pays $86M for Outdoor Storage Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Alterra IOS Manager has acquired a portfolio of industrial outdoor storage in a sale-leaseback deal with Heniff Transportation Systems.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alterra IOS Pays $86M for Outdoor Storage Portfolio\" \/>\n<meta property=\"og:description\" content=\"Alterra IOS Manager has acquired a portfolio of industrial outdoor storage in a sale-leaseback deal with Heniff Transportation Systems.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-22T12:09:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-22T14:30:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Heniff-Transportation-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"810\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/\",\"name\":\"Alterra IOS Pays $86M for Outdoor Storage Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Heniff-Transportation-featured.jpg\",\"datePublished\":\"2022-12-22T12:09:22+00:00\",\"dateModified\":\"2022-12-22T14:30:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"description\":\"Alterra IOS Manager has acquired a portfolio of industrial outdoor storage in a sale-leaseback deal with Heniff Transportation Systems.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Heniff-Transportation-featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Heniff-Transportation-featured.jpg\",\"width\":810,\"height\":620,\"caption\":\"Heniff Transportation Systems location. Image courtesy of Alterra IOS Manager\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Alterra IOS Pays $86M for Outdoor Storage Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Alterra IOS Pays $86M for Outdoor Storage Portfolio - Commercial Property Executive","description":"Alterra IOS Manager has acquired a portfolio of industrial outdoor storage in a sale-leaseback deal with Heniff Transportation Systems.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/","og_locale":"en_US","og_type":"article","og_title":"Alterra IOS Pays $86M for Outdoor Storage Portfolio","og_description":"Alterra IOS Manager has acquired a portfolio of industrial outdoor storage in a sale-leaseback deal with Heniff Transportation Systems.","og_url":"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-12-22T12:09:22+00:00","article_modified_time":"2022-12-22T14:30:08+00:00","og_image":[{"width":810,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Heniff-Transportation-featured.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/","url":"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/","name":"Alterra IOS Pays $86M for Outdoor Storage Portfolio - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Heniff-Transportation-featured.jpg","datePublished":"2022-12-22T12:09:22+00:00","dateModified":"2022-12-22T14:30:08+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"description":"Alterra IOS Manager has acquired a portfolio of industrial outdoor storage in a sale-leaseback deal with Heniff Transportation Systems.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Heniff-Transportation-featured.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Heniff-Transportation-featured.jpg","width":810,"height":620,"caption":"Heniff Transportation Systems location. Image courtesy of Alterra IOS Manager"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/alterra-ios-acquires-14-properties-in-86m-sale-leaseback\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Alterra IOS Pays $86M for Outdoor Storage Portfolio"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Heniff-Transportation-featured.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004636652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004636652"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004636652\/revisions"}],"predecessor-version":[{"id":1004636761,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004636652\/revisions\/1004636761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004636695"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004636652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004636652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004636652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}