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Industrial Outdoor Storage Continues to Grow

May 23, 2023

Investor demand is being driven by strong operating results, a tight supply and minimal capital expenditure.

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.
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