Hunt Midwest has sold a portion of its premium industrial outdoor storage portfolio at Hunt Midwest Business Center in Kansas City, Missouri, to national real estate firm Alterra IOS after a decade of success supporting the Ford Transit and vehicle upfitters.
Philadelphia-based Alterra IOS, an investment and development company specializing in industrial outdoor storage, purchased 58 acres at three locations along Parvin Road and Arlington Avenue at Hunt Midwest Business Center. The facilities include staging lots leased by Adrian Steel, a leading manufacturer for commercial van and truck equipment, and Ford Motor Company’s North American Vehicle Logistics Outbound Shipping Center, the waystation for nearly every Ford Transit built in North America.
Hunt Midwest has decades of experience building and managing industrial outdoor storage, and the company bet on expanding its IOS platform a decade ago to support the introduction of Transit van production at the Ford Claycomo assembly plant. Today Hunt Midwest offers almost 15,000 vehicle staging stalls across Automotive Alley, where close to two dozen upfitters and automotive suppliers support the Transit and other vehicles across 130 acres at Hunt Midwest Business Center and SubTropolis, the world’s largest underground business park.
Alterra IOS entered the industrial outdoor storage market in 2016 and now owns more than 250 properties across 30 states in the highly sought after asset class.
Hunt Midwest was represented in the land sale by Austin Baier of CBRE and Alterra IOS was represented by Joe Orscheln of CBRE.
The overall Hunt Midwest Business Center is fully leased and in its final phase of development. Construction is underway on HMBC Logistics VI, a 306,556-square-foot build-to-suit facility, alongside ongoing construction of the new $1 billion Google data center campus.
Future development will support more than 1.6 million additional square feet of new Class A industrial space. Land sales and build-to-suit opportunities remain available at Hunt Midwest Business Center.
