Alterra IOS acquires16 IOS locations totaling 34.8 usable acres from TruGreen, the country’s largest lawn care service provider. TruGreen serves nearly 2.3 million residential and commercial customers across more than 275 branches nationwide.
The 16 properties, acquired through a 25-year triple-net (NNN) sale-leaseback acquisition, are 100% occupied and include a collective 326,400 square feet of warehousing, maintenance shop and office space. This transaction is the second national portfolio Alterra has acquired from TruGreen. In December 2023, the firm acquired 17 sites from the lawn care company, totaling 44 usable acres and 350,000 square feet of warehouse space across 14 states.
The locations within the portfolio are as follows:
- Atlanta MSA: 15 North Drive SE, Acworth, Ga
- Boston MSA: 21 Forge Parkway, Franklin, Mass.
- Columbus MSA: 4045 Lakeview Crossing, Groveport, Ohio.
- Dayton MSA: 800 Center Drive, Vandalia, Ohio.
- Denver MSA: 12445 Dumont Way, Littleton, Colo.
- Detroit MSA: 6272 Taylor Drive, Flint, Mich., and 48932 Wixom Tech Drive, Wixom, Mich.
- Grand Rapids MSA: 9077 Portage Industrial Drive, Portage, Mich.
- Greensboro MSA: 4220 Beechwood Drive, Greensboro, N.C.
- Lancaster MSA: 201 Bucky Drive, Lititz, Pa.
- Kansas City MSA: 8420 Cole Parkway, Lenexa, Kan.
- Lexington MSA: 2269 Danforth Drive, Lexington, Ky.
- Long Island MSA: 5 Todd Court in Yaphank, N.Y.
- Minneapolis MSA: 4240 Centerville Road, Vadnais Heights, Minn.
- Tulsa MSA: 2200 N Willow Drive, Broken Arrow, Okla.
- Washington D.C. MSA: 18910 Woodfield Road, Gaithersburg, Md.
