Updated Oct 28, 2025
Leo Addimando Of Alterra IOS Acquires 14-Acre Industrial Outdoor Storage In Riverside From Wilbur Smith III
1600 Columbia Avenue
Building Size
—
Asset Type
Self Storage
Closing
Oct 26, 2025
About this deal
AI
Alterra IOS acquired a 14-acre industrial outdoor storage site located at 1595-1600 Columbia Avenue in Riverside. The property is fully leased and occupied by a major building materials supplier.
Summary of transaction details:
- Property Type: Industrial Outdoor Storage
- Transaction Amount: Not disclosed
- Buyer: Leo Addimando - Alterra IOS
- Seller: Wilbur Smith III - Greenlaw Partners
- Brokers: Michael Kendall, Gian Bruno, Kenny Patricia, Kylie Jones, Mark Zorn & Cory Whitman - Colliers
This transaction was facilitated by the west industrial capital markets team at Colliers, underscoring the firm's role in brokering the deal between Alterra IOS and Greenlaw Partners.
On the Map
Self Storage
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Players
Riverside Self Storage Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93