Matt McNutt & Leo Addimando Acquire 15.2-Acre Industrial Property In Jurupa Valley For $51M

The property involved in this transaction is a 15.2-acre industrial storage facility located at 5600 Market Street in Jurupa Valley, California. The asset was sold for $51 million in a long-term sale-leaseback agreement with Wheeler Trucking. This acquisition enhances Alterra IOS's portfolio in Southern California, bringing the total number of properties to 11 and emphasizing the focus on large-scale industrial outdoor storage sites.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $51,000,000
• Buyers: Matt McNutt & Leo Addimando - Alterra IOS (Alterra Property Group)
• Broker: Chase MacLeod & Company
• Date of Transaction: 12/23/2024
• Market: Jurupa Valley

This transaction signifies collaboration between notable individuals and companies, with Matt McNutt and Leo Addimando representing Alterra IOS in the acquisition, while Chase MacLeod & Company facilitated the brokerage aspect of the deal. The sale reinforces Alterra's strategic approach to expanding its industrial storage capabilities.