**Morgan Stanley Real Estate Acquires $92M Industrial Outdoor Storage Facility in Fontana**
Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), has acquired a substantial industrial outdoor storage (IOS) facility in Fontana, California, for approximately $92 million.
The property is situated within the Southwest Industrial Park in Fontana and spans a rare 26-acre parcel. MSREI noted that this scale of IOS property is virtually unmatched in the region, making it a unique and highly sought-after asset. The facility has been under the long-term operation of Oldcastle Infrastructure, a subsidiary of CRH plc, the world’s largest building materials company. The acquisition is structured under a long-term absolute triple-net lease with Oldcastle, which has occupied the site for over 30 years.
Will Milam, Head of U.S. Investments at MSREI, commented on the significance of the acquisition:
“This acquisition exemplifies MSREI’s strategy of sourcing and securing institutional-quality net lease investments in core logistics markets. The IOS facility is a mission-critical asset for Oldcastle and a cornerstone for regional infrastructure supply. We are excited to partner with them to support their long-term operational needs in Southern California.”
This strategic investment highlights MSREI’s continued focus on logistics and infrastructure-aligned real estate assets in core industrial hubs.
