Philadelphia based Alterra IOS has assembled 28 properties and 190 usable acres across metro Atlanta after purchasing 32 acres and 146,000 square feet of industrial space, according to county deed records and Georgia Superior Court Clerks' Cooperative Authority filings reviewed by Bisnow. The buying run began in February and spans four of the nine metro Atlanta counties.
The largest transaction was 2400 Barrett Lakes Boulevard in Kennesaw, a 19 acre site with a 117,600 square foot warehouse that Alterra bought from RLR Investments for $21 million in February. Cobb County records show RLR paid $7.1 million for the same property in 2016. In Cobb County, Alterra also acquired 550 Discovery Place in Mableton, a 4 acre parcel with a 12,000 square foot warehouse leased to a regional equipment rental dealer, for $6.4 million.
Henry County saw two deals. Alterra paid $3.8 million for 5 acres and a 10,000 square foot warehouse on U.S. Highway 42 South in Locust Grove, and $2.3 million for a 6,000 square foot office and warehouse facility on Meredith Park Drive in McDonough. In Gwinnett County, the company paid $2.6 million in May for a 2 acre parcel on Communications Drive in Norcross leased to a national wholesale food distributor.
Industrial outdoor storage rents have climbed 123% nationally since 2020. Brokerage firm Matthews reported that logistics and trucking account for roughly a quarter of demand for the property type, with construction and building material storage taking a similar share.
Source: Bisnow - https://www.bisnow.com/news/atlanta/industrial/industrial-storage-investor-picks-up-buying-steam-in-metro-atlanta