An industrial portfolio consisting of 12 properties has been sold in an all-cash deal for $67 million. The properties span 43 acres and encompass 165,000 square feet of warehouse space located across markets in Austin, Phoenix, Raleigh-Durham, and Tampa. This portfolio is entirely leased to Herc Rentals.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $67,000,000
• Square Footage: 165,000 SF
• Price Per Square Foot: $406
• Buyer: Leo Addimando & Mark Gannon - Alterra IOS
• Brokers: Rory Shelby & Scott Gould - Marcus & Millichap

Alterra IOS, represented by Leo Addimando and Mark Gannon, has acquired this portfolio as part of their nationwide industrial outdoor storage strategy, enhancing their footprint to 350 sites. The transaction was facilitated by brokers Rory Shelby and Scott Gould from Marcus & Millichap.