Philadelphia-based AlterraIOS has purchased a 5-acre industrial outdoor storage property in Rialto, CA for $17 million. Located at 2239 West Stonehurst Dr., the facility has immediate access to State Highway 210 in the Inland Empire MSA, with easy access to Interstates 15 and 215.

“Our momentum in Southern California continues to build and we remain committed to growing our portfolio of industrial outdoor storage assets in this region,” said AlterraIOS VP Matt McNutt. “These are areas that have a high barrier to entry, with seemingly insatiable tenant demand and sustainable future rent growth. We are actively under contract on a handful of other property acquisitions and welcome more opportunities.”

As part of the transaction, the seller of the facility, Olson Precast Company, has entered into a one-year sale leaseback. The seller’s broker, Jeff Kernochan of Fischer & Company, will be retained by AlterraIOS on the eventual lease up.