Alterra IOS Picks Up Baltimore-Area Asset
The property is fully leased to a provider of traffic direction products and services.
Alterra IOS has made its latest stride in the industrial outdoor storage sector with the purchase of 7121 Dorsey Run Road, a 5-acre property in Elkridge, Md., a suburb of Baltimore. The previous owner was K&J Holdings LLC, according to CommercialEdge information. MacKenzie Commercial Real Estate represented the buyer.
The Class B asset at 7121 Dorsey Run Road came online in 2001, the same source reveals. The property includes a mix of paved and gravel-laid trailer storage lots, as well as 13,000 square feet of office and retail space.
READ ALSO: What’s Next for Industrial Real Estate?
The facility currently serves as headquarters and regional storage depot for Traffic Engineering Services, a provider of traffic direction equipment and services. The company rents and sells signs, cones and arrow boards, and also provides in-house traffic control services and professional training.
The IOS property has access to four separate highway onramps, which feed into Interstate 95 as well as Maryland routes 1 and 100. Its location is 4 miles west of Baltimore/Washington International Thurgood Marshall Airport and 11 miles from downtown Baltimore. Downtown Washington, D.C., is 23 miles away.
Alterra’s IOS buying binge
Mark Gannon, senior vice president at Alterra IOS, said in prepared remarks the firm plans to acquire more properties around the Baltimore-Washington corridor.
This smaller transaction follows a recent large-scale portfolio purchase that closed in January. Alterra acquired 17 properties across 14 states, in a sale-leaseback deal with TruGreen.
A week prior, the firm partnered with ConGlobal Industries for the purchase of four assets totaling 90 acres. The company’s portfolio currently includes more than 200 properties across more than 30 states. As of May 2023, its holdings were worth nearly $2.5 billion.
You must be logged in to post a comment.