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Washington DC & Mid-Atlantic  + Virginia  + Industrial  |  October 25, 2024
Jasmine Kilman
By: Jasmine Kilman

Alterra IOS Acquires Three Acres in Richmond

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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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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