Hunt Midwest Sold 58 Acres of Business Center to Philadelphia-based Alterra IOS

Posted August 15, 2024

Kansas City-based Hunt Midwest has sold 58 acres of its Hunt Midwest Business Center to Philadelphia-based real estate firm Alterra IOS.

Alterra IOS purchased 58 acres at three locations along Parvin Road and Arlington Avenue that were leased by Adrian Steel, a manufacturer of commercial van and truck equipment, and Ford Motor Company’s North American Vehicle Logistics Outbound Shipping Center.

Hunt Midwest offers almost 15,000 vehicle staging stalls across Automotive Alley and has been working to increase its industrial outdoor storage platform for close to a decade, according to a release.

“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 in the release.

Alterra IOS entered the industrial outdoor storage market in 2016 and now owns more than 250 properties across 30 states.

The Hunt Midwest Business Center is now fully leased and in its final phase of development. Construction is underway for two other Hunt Midwest projects; HMBC Logistics VI, a 306,556-square-foot build-to-suit facility, and the new $1 billion Google data center campus.

Hunt Midwest was represented in the land sale by Austin Baier of CBRE and Alterra IOS was represented by Joe Orscheln of CBRE.