Alterra IOS Adds 32 Acres and 145,700 SF Across Five Atlanta Metro IOS Acquisitions
Alterra IOS has acquired five industrial outdoor storage properties across the Atlanta metropolitan area, adding 32 usable acres and more than 145,700 square feet of accompanying warehouse space to its portfolio. The transactions expand Alterra's Atlanta footprint to 28 properties spanning 190 usable acres and reinforce the firm's position as the largest owner-operator of industrial outdoor storage in the United States.
The five sites span key industrial submarkets along the region's primary interstate corridors — I-75 North, I-75 South, I-20 West, and I-85/I-285 — and are occupied by a range of national and regional tenants in the building materials, equipment rental, and logistics industries.
Flagship Kennesaw Acquisition Anchors the Portfolio
The largest of the five properties, located at 2400 Barrett Lakes Boulevard in Kennesaw, comprises more than 19 usable acres and a 117,600-square-foot warehouse. The fully fenced, cross-dock facility features five drive-through bays, one pull-in bay, and 151 dock-high doors, enabling the circulation of trucks, trailers, and materials across the site. The property sits within approximately 25 miles of downtown Atlanta and offers direct access to I-75, I-575, and U.S. 41. The site was previously owned by R+L Carriers and sold to Alterra for $21 million, equating to approximately $178.57 per square foot. The transaction was brought to Alterra by Alessandra Bianchi of ONE Commercial Real Estate.
Four Additional Sites Span Metro Submarkets
The remaining four acquisitions are distributed across the southern, western, and northeastern portions of the Atlanta metro:
2611 US Highway 42 South, Locust Grove: A 5-acre site with 10,357 square feet of warehouse space located south of downtown Atlanta, with direct access to GA-42 and proximity to I-75. The transaction was brought to Alterra by Jay Hudson and Mike Sutter of Lee & Associates.
550 Discovery Place, Mableton: A 4-acre property with 11,760 square feet of warehouse space situated adjacent to the Fulton County airport, with proximity to I-20 and I-285. The site is fully leased to a regional equipment rental dealer. The transaction was brought to Alterra by Tommy Barrow of King Realty.
2000 Meredith Park Drive, McDonough: A 2-acre site with 6,000 square feet of office and warehouse space featuring two drive-in doors and one dock-high door. Located southeast of downtown Atlanta with access to I-75 and GA-155, the property is leased to a national truck rental and transportation services company. The transaction was brought to Alterra by Mike Sutter and Jay Hudson of Lee & Associates Atlanta.
4303 Communications Drive, Norcross: A fully paved, 2-acre trailer parking yard connected to Atlanta via I-85 and I-285. The site is fully leased to a national wholesale food distributor and traded at more than $1 million per acre. The transaction was brought to Alterra by Connor Cohen of Cone Commercial Real Estate.
Atlanta's Role in Alterra's National Strategy
"Atlanta continues to be one of the country's most important logistics and distribution hubs, and has emerged as one of the fastest-growing data center markets in the United States," said Sean Christman, Senior Associate of Acquisitions at Alterra IOS. "As population growth and economic activity continue to accelerate across the Southeast, we remain focused on acquiring strategically located IOS assets in markets where transportation infrastructure, tenant demand and limited supply support long-term value creation."
The Atlanta acquisitions come as institutional capital has grown to account for upward of 45 percent of IOS acquisitions nationally, up from 25 to 30 percent four years ago. Rents on IOS properties have risen 123 percent since 2020, with new supply constrained by zoning restrictions that limit the availability of sites suitable for outdoor storage uses.
Alterra's National Platform
Alterra IOS has acquired more than 500 properties across 39 states as of the second quarter of 2026. The firm operates as a vertically integrated investor, developer, and operator, with its investment strategy centered on acquiring IOS sites within dense, infill logistics and transportation corridors in proximity to critical infrastructure and end-users. The firm recently completed a $400 million portfolio refinancing.
Brokers on the five Atlanta transactions included Alessandra Bianchi of ONE Commercial Real Estate, Jay Hudson and Mike Sutter of Lee & Associates, Tommy Barrow of King Realty, and Connor Cohen of Cone Commercial Real Estate.
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