A two-property industrial outdoor storage portfolio totaling 67,508 square feet has sold to Alterra IOS. The transaction involved properties at 995 N 5th Ave in Brighton and 3240-3250 Astrozon Blvd in Colorado Springs.
JLL represented the seller, Bespoke Holdings Company, in the transaction.
The Brighton property encompasses 4,890 square feet of building space on 4.6 acres with 2.44 percent site coverage, fully leased to a major national equipment rental company. Built in 1982, the steel-constructed facility features 14-foot clear heights and two drive-in doors.
The Colorado Springs asset spans 62,618 square feet across 6.92 acres with 20.77 percent site coverage, leased to an established lumber and building materials company. Constructed in 1981 with recent improvements including a 2018 standing-seam metal roof installation, the facility features 18-foot clear heights and 10 drive-in doors. The property includes railroad spur access for enhanced logistics capabilities.
Both properties offer exceptional connectivity to major transportation corridors. The Brighton location provides direct access to Interstate 25 and Interstate 76, positioning tenants within easy reach of Denver International Airport, the third-busiest airport in the United States. The Colorado Springs property benefits from proximity to Interstate 25 and Colorado Springs Airport, which completed a $55 million renovation in 2021.
Parker Pearson, senior vice president, Acquisitions at Alterra IOS, led the transaction for the buyer.
“We focus on IOS properties where location, tenant quality, and site functionality intersect—this portfolio checks all three of those boxes,” said Pearson. “The Denver and Colorado Springs metros have strong industrial fundamentals, and both assets are leased to strong, national IOS tenants.”
The JLL Capital Markets team representing the seller was led by Senior Managing Director Peter Merrion and Director Robert Key.
“Industrial outdoor storage properties are becoming increasingly valuable as new development faces significant entitlement barriers and land scarcity,” added Key. “This portfolio exemplified institutional-quality IOS assets with credit-worthy tenants, embedded rent growth, and substantial mark-to-market upside.”
