Industrial Outdoor Adds to Its Outdoor Assets, Facilities
Industrial Outdoor Ventures is growing … outward. IOV is expanding its corporate footprint in Glendale, Ariz., with the acquisition of a five-acre facility at 4932 W. Pasadena Ave., according to a news release.
That location has a 50,000-square-foot building on the site, according to the seller, Pettstarr Holdings LLC. Not coincidentally, this purchase is adjacent to a 4.6-acre site at 4800 W. Pasadena Ave. that IOV purchased in December 2019. The acreage at 4800 West Pasadena includes a 26,625-square-foot service building.
The newer acquisition is fully-leased to Avanti Windows through the end of 2024.
When that lease ends, IOV reportedly expects to make minor building and site improvements, and market for lease to various users in the equipment rental, building materials, transportation, outdoor storage business.
“We’re excited to continue growing our presence in the Northwest Phoenix industrial pockets,” said IOV’s Anthony DeLaurentis. “This facility was especially attractive and represented an ideal opportunity because it is contiguous with the asset located immediately next door.”