ANNAPOLIS, MD. — Annapolis-based transportation real estate investment and management firm Realterm has purchased a national portfolio of 13 industrial outdoor storage (IOS) properties spanning 131 acres for $277 million. Brookfield Asset Management sold the portfolio, which comprises 13 single-tenant truck terminals and maintenance facilities totaling 631,604 square feet.
The addresses were not disclosed, but the properties are concentrated in gateway markets such as Dallas-Fort Worth, Northern New Jersey, Orlando, Seattle, Chicago and both California’s Inland Empire and Bay Area. The portfolio had an occupancy rate of 97 percent at the time of sale.
“The portfolio represents a rare opportunity to acquire, at scale, a collection of transportation-advantaged IOS truck terminal assets in key markets,” said Ben Andreycak, vice president of investments at Realterm. “Realterm recognizes the mission-critical nature of the assets in the portfolio for logistics use.”
Nick Murphy and Brian Budnick of New York City-based advisory firm Eastdil Secured arranged the portfolio sale on behalf of Brookfield, which acquired the assets between 2017 and 2022. The properties are leased to 10 different tenants, primarily in the logistics space.
“Investor demand for IOS properties has surged due to the increasing need for storage and logistics solutions that support supply chain resilience,” said Budnick, Eastdil Secured’s managing director. “The looming tariffs and the shift toward nearshoring have further amplified this demand, making IOS properties an attractive asset class for institutional capital.”
Brookfield owns and operates a $26 billion global industrial portfolio that spans 182 million square feet across five continents. Brookfield’s active development pipeline of logistics projects exceeds 90 million square feet.
Realterm acquires, develops, finances and manages differentiated real estate and infrastructure assets serving land, air, sea and rail networks across the world. Realterm currently manages over $11 billion in assets on behalf of global institutional investors.
— Taylor Williams