CHICAGO—Chicago-based industrial real estate veterans Tom Barbera, JD Salazar and Joe Voet, have just launched Industrial Outdoor Ventures, a real estate investment company that will acquire and develop industrial service facilities throughout the US. With the launch, IOV becomes first national real estate investor focused exclusively on outdoor storage facilities.
Industrial service facilities are mission critical facilities primarily used by the transportation, construction, construction material and utility industries to store, maintain and dispatch equipment and bulk material.
“This is a very well-occupied property type,” principal and chief executive officer Barbera tells GlobeSt.com. Using data from CoStar, IOV calculated that the vacancy rate for industrial service facilities in the nation's top ten markets was less than three percent. Furthermore, the “tenants tend to be sticky; these are mature companies in core industries that have a good handle on their long-term space needs.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
