**Alterra IOS Acquires 16 Locations in Sale-Leaseback from TruGreen**
Philadelphia-based Alterra IOS has acquired 16 industrial outdoor storage (IOS) locations totaling 34.8 usable acres from TruGreen, a nationwide lawn care service provider. TruGreen serves nearly 2.3 million residential and commercial customers across more than 275 branches nationwide.
John Fink of CBRE facilitated the sale on behalf of TruGreen. The 16 properties, acquired through a 25-year triple-net sale-leaseback transaction, are fully occupied and collectively include 326,400 square feet of warehousing, maintenance shops, and office space.
This marks the second national portfolio acquisition Alterra has completed with TruGreen. In December 2023, the firm acquired 17 sites from the company, totaling 44 usable acres and 350,000 square feet of warehouse space across 14 states. The investment is part of a series of transactions for Alterra in 2024, including the high-profile $490 million sale of a 51-asset portfolio to Peakstone Realty Trust.
Additionally, industry leaders will gather at Connect Industrial Midwest 2025 on Wednesday, March 5, at Joe’s Live in Rosemont, IL, where Michael Brennan will receive Connect CRE’s Lifetime Achievement Award and participate in a keynote interview with Kevin Brennan of Brennan Investment Group.
