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Alterra IOS nears 200 acres in Georgia after Metro Atlanta purchases
The latest deal totals 32 acres and about 146,000 square feet of industrial space, including a Norcross 2-acre site that changed hands for more than $1M per acre.
Bisnow reports that Alterra IOS, a Philadelphia-based industrial land investor, is nearing 200 acres of property in Georgia after buying additional industrial outdoor storage assets in the Atlanta metro area.
According to documents reviewed by Bisnow, the company purchased 32 acres and roughly 146,000 square feet of industrial space, including a 2-acre industrial plot in Norcross that sold for more than $1M per acre. Alterra’s Atlanta portfolio now totals 28 properties and 190 usable acres.
Bisnow details several of the acquisitions and related pricing, including a 19-acre Kennesaw site with a 117,600-square-foot warehouse bought for $21M in February, and a 5-acre Locust Grove property sold for $3.8M. The story also cites a McDonough facility sold for $2.3M, and additional Norcross and Mableton assets that are described as fully leased.
Alterra is positioning Atlanta as a key growth market, with the outlet citing the company’s view that the area is a major logistics and distribution hub and has emerged as a fast-growing data center market in the United States. Bisnow says Alterra has amassed 500 properties across 39 states, making it the largest U.S. IOS owner, according to a press release reviewed by the outlet.