Industrial Outdoor Storage’s Growth Spurt Continues.
Commercial Property Executive, Gail Kalinoski (May 23,2023)
Green Street calls the industrial outdoor storage subsector “a beautiful ugly duckling.” Marcus & Millichap calls it “last-mile industry’s highly demanded, yet underdeveloped cornerstone.”
Previously known as a niche within the larger industrial market, over the last several years IOS has grown to be at least a $200 billion market that is increasingly attracting institutional investors as well as real estate investment and development firms with specialized IOS operating platforms. One investor thinks $200 billion is a conservative estimate. It could be because the bigger players are building national portfolios nearing $1 billion in some cases and surpassing $2 billion in at least one case.