Kansas City, MO — August 14, 2024 — Hunt Midwest has sold a portion of its premium industrial outdoor storage portfolio at Hunt Midwest Business Center 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.

“Thanks to our long-term relationships with Ford and the automotive industry, we saw an opportunity to provide premium industrial outdoor storage for Ford when the automaker created a new platform in North America for the Transit van,” Hunt Midwest Senior Vice President Mike Bell said. “The venture has proven to be a very good bet — for our tenants, the Transit van platform, and Hunt Midwest alike. Our sale to an industry-leading firm like Alterra IOS underscores the significant value we were able to create for all the companies involved. We’re looking at using our expertise to continue expanding our industrial outdoor storage offerings across the Midwest and Southeast.”

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.

“Alterra IOS remains focused on expanding its footprint across key U.S. industrial markets, including Kansas City,” said Parker Pearson, vice president of industrial at Alterra Property Group, parent company of Alterra IOS. “The newly acquired properties are strategically located in a dense industrial corridor with excellent connectivity to transportation networks. We are excited to add several large, global tenants to our IOS portfolio and continue the growth of our relationship with Hunt Midwest.”

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.

For more information about HMBC and Hunt Midwest’s other industrial real estate offerings, visit us online at HuntMidwest.com.

About Hunt Midwest
Hunt Midwest is a Kansas City-based, privately held real estate development company with six decades of expertise in industrial, self-storage, residential, multifamily, and senior living communities, with more than $2.5 billion of developed projects in multiple geographic markets. Hunt Midwest leverages its reputation, resources, and relationships to create successful real estate solutions.

Hunt Midwest is one of the pillars of the Lamar Hunt Family’s holdings, which include interests in real estate, sports/entertainment, energy/natural resources, and private equity. Other marquee brands include the Kansas City Chiefs, Chicago Bulls, FC Dallas, Hunt Southwest, and Trinity Hunt. Learn more at HuntMidwest.com.