Alterra IOS Acquires 16 Industrial Outdoor Storage Locations in Sale-Leaseback Transaction With Nation’s Largest Lawn Care Provider
Summary
The 16 properties, acquired through a 25-year triple-net (NNN) sale-leaseback acquisition, are 100% occupied and include a collective 326,400 square feet of warehousing, maintenance shop and office space. In December 2023, the firm acquired 17 sites from the lawn care company, totaling 44 usable acres and 350,000 square feet of warehouse space across 14 states. Focused on low-building coverage sites with large, stabilized yard space to accommodate an array of uses such as vehicle, material, and equipment storage, Alterra brings an institutional comprehension of the municipal & logistical complexities in securing mission-critical real estate for the often-overlooked sectors of the U.S. industrial landscape. Over the past six years, Alterra IOS has created tenant relationships in the transportation & logistics, vehicle storage, equipment rental, and building materials industries through the acquisition or development of over 300 properties across 36 states as of Q4 2024. TruGreen is the partner with the local, tailored solutions and science-driven expertise needed to help each outdoor living space look and feel its very best.