Alterra IOS, a Philadelphia-based industrial real estate owner, has recently acquired a 7.03-acre property in Folsom for an undisclosed amount. The property is located at 1130 Sibley St and was purchased with the intention of securing a long-term leaseback agreement with Syblon Reid, a construction services company.
According to Alterra IOS Vice President Matt McNutt, this acquisition not only allows them to establish themselves in the Sacramento market but also provides them with an attractive asset and strong tenant. The site has been owned by Syblon Reid since 2004 and serves as their headquarters for daily operations.
The sale-leaseback transaction was completed smoothly thanks to the expertise of Alterra IOS and their understanding of the market. With this new addition to their portfolio, they are excited about future opportunities within Sacramento’s thriving industrial sector.
Photo courtesy of Syblon Reid.
This article discusses Alterra IOS’ recent acquisition of a prime industrial property in Folsom through a sale-leaseback transaction with construction services company Syblon Reid. Located at 1130 Sibley St., this purchase marks Alterra’s entry into the promising Sacramento market while also securing them an excellent asset and reliable tenant.
Matt McNutt, VP at Alterra IOS states that they are pleased not only by gaining access into this growing market but also by acquiring such valuable assets along with establishing ties with well-established tenants like Syblon Reid who have been operating from here since 2004 as it remains critical for their business operations even today.
With its expert knowledge on local markets coupled up good timing played key roles during negotiations ensuring smooth completion which further strengthens its position within Sacramentos booming industry segment making way for more such acquisitions down line says Mr.McNutt
Image credit: Photo courtesy:SybloonReid
