RIVIERA BEACH, FL (August 10, 2021) – Industrial Outdoor Ventures (IOV), the first national real estate investor focused exclusively on outdoor storage facilities, has added a 8,702 square foot maintenance facility on 3.00 acres to its portfolio.
IOV picked up 4651 Dyer Blvd. in Riviera Beach fully leased to Lucid Motors, an American electric vehicle manufacturer. The 3-acre property features a 8,702-square-foot maintenance shop with concrete yard surface throughout. The facility was previously occupied by Tesla, Inc and retrofitted in 2020 prior to Lucid Motor’s occupancy.
Location was also the main driver for this acquisition as IOV’s Vice President, Eric Johnson points out proximity to the Port of Riviera Beach and Palm Beach International Airport as major selling points. “This is a land constrained market with explosive population growth which only adds to the rapidly increasing demand for industrial space throughout South Florida,” he added.
The seller was Philadelphia based investor, Alterra Property Group.
This is the second acquisition the team has made in Florida over the last 24 months. IOV also owns 3732 Bryn Mawr St, Orlando, FL, a 63 door cross-dock truck terminal fully leased to ABF Freight, and 1801 Northwest 15th Ave, Pompano Beach, a vacant 4.03-acre site with immediate development plans for a Class A truck parking facility.
IOV is one of the most active buyers of real estate with a five-year plan to amass more than $1 billion in product type. Its portfolio currently spans the U.S. with properties in major markets such as Atlanta, Denver, Dallas, Chicago and Southern California – among others.
TOM BARBERA
Chief Executive Officer
Phone: 847.595.0270
Email: tom@iovre.com
ERIC JOHNSON
Vice President of Development & Acquisitions
Phone: 312.898.2978
Email: eric@iovre.com