Rents for industrial outdoor storage (IOS) have grown faster than traditional industrial in most markets since the onset of the pandemic, especially in sites catering to logistics users located near seaports. However, it is a volatile market, with demand and rents accelerating faster in upcycles but also performing worse during economic downturns.
This is according to a Green Street report on the sector authored by Vince Tibone and Jessica Zheng.
IOS is defined as a site zoned for an industrial use where the tenant can store something outside, such as vehicles, construction equipment, building materials or containers.
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