Alterra IOS Acquires 10-Property National Truck Terminal Portfolio for Nearly $50 Million
Alterra IOS has completed the acquisition of a 10-property national truck terminal portfolio for nearly $50 million, the firm announced Feb. 17, 2026. The transaction adds approximately 45 usable acres, 455 drive-in doors, and over 238,000 square feet of warehouse space to the company's industrial outdoor storage (IOS) platform.
Portfolio Overview and Property Details
The portfolio spans 10 properties across multiple U.S. logistics markets, with nine of the 10 sites fully leased to multinational freight carriers at the time of closing. The seller was not identified in the announcement.
Individual properties in the portfolio are located in the following markets, with corresponding usable acreage, drive-in door counts, and warehouse square footage:
- Kennesaw, Ga. (Atlanta MSA): 19.59 acres, 151 drive-in doors, 74,000 sq ft
- Chester, Va. (Richmond MSA): 4.75 acres, 40 drive-in doors, 18,730 sq ft
- Orlando, Fla.: 2.77 acres, 42 drive-in doors, 18,000 sq ft
- Salem, Va.: 2.65 acres, 18 drive-in doors, 7,650 sq ft
- Woodinville, Wash. (Seattle MSA): 2.45 acres, 31 drive-in doors, 11,200 sq ft
- Chesapeake, Va. (Norfolk MSA): 2.40 acres, 32 drive-in doors, 14,500 sq ft
- Fort Myers, Fla.: 2.35 acres, 40 drive-in doors, 21,000 sq ft
- Raleigh, N.C.: 1.96 acres, 19 drive-in doors, 8,000 sq ft
- One additional undisclosed site: 4.30 acres, 28 drive-in doors, 20,000 sq ft
Full street addresses for the properties were not disclosed.
Strategic Rationale
Alterra IOS describes itself as a vertically integrated investor, developer, and operator focused on industrial outdoor storage assets. Chris White, Vice President of Acquisitions at Alterra IOS, said the deal provides "immediate scale" in domestic freight corridors amid supply constraints, according to the firm's announcement.
The transaction was structured as a portfolio acquisition, with nine of 10 properties fully leased at closing, providing near-term income from the outset.
Alterra IOS Platform
The Kennesaw, Ga., property — the largest in the portfolio at 19.59 acres and 151 drive-in doors — represents the single largest site by acreage and door count in the transaction. Virginia markets account for three of the 10 properties, spanning Chester, Salem, and Chesapeake.
No financing details, cap rate, or loan terms were disclosed in connection with the transaction.
Sources: Alterra IOS press release via GlobeNewswire, Feb. 17, 2026. Full announcement available here.