Alterra IOS Acquires Three Acres in Richmond

Barchart · 10/25 16:20

Alterra IOS announced the acquisition of a 2.8-acre site in Ashland, Virginia. The site is located at 11144 Progress Road, offering quick access to downtown Richmond and Richmond International Airport via Route 1 and I-95.

Jimmy Martin of Colliers facilitated the acquisition of the outdoor storage property, which is situated within the Hanover Air Park for Alterra. The property features 9,700 square feet of warehouse space with two grade-level drive-in doors and one dock door fenced. The site is fenced and secured and will be refreshed prior to lease-up.

In August, a joint venture between Alterra IOS and Eco Materials bought a 5-acre site in Southwest Philadelphia for $5.75 million with plans to build a soil recycling facility. Including the purchase price for the property at 6110 Passyunk Ave., the project is expected to cost $40 million.

Alterra is one of the largest owners of IOS space, having acquired over 280 properties in more than 30 states across the U.S.

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