Schaumburg, IL (February, 2022) – In an expansive transaction involving 14 properties previously owned by Ahern Rentals, Industrial Outdoor Ventures (IOV) has acquired 11 other properties where Ahern will become a tenant and lease the properties back in a sale/leaseback as well three vacant, value-add properties. The portfolio consists of low coverage Industrial Service Facilities or ISF’s and totals 357,157 square feet of buildings and over 65 acres of improved yard area.

The financial details of the transaction, involving properties in eight states across the country, were not disclosed.

“This is a milestone opportunity for us on various fronts,” said the CEO of Industrial Outdoor Ventures, Tom Barbera. “Adding 11 stabilized ISF’s with a quality tenant like Ahern to our portfolio was a great way to close out 2021 and adding three prime value-add assets in high barrier-to-entry submarkets is a great way to kick off 2022. This will also open the doors to further our relationship with Ahern Rentals, the largest privately held equipment rental firm in the country.”

Three Vacant Value-Add Properties,

The properties acquired are located in CA and TN, and total 17.04 acres of land. Two of the properties have buildings totaling 34,481 square feet on the premises. IOV has proposed a spec building on one of the California properties.

11909 Riverside Drive located in Jurupa Valley, CA, on 6.22 acres. IOV is actively marketing this property which includes plans for a spec building, a 30,000-square foot maintenance facility. The site has prime interstate visibility.

1020 Airport Road is located in Oceanside, CA, on 6.98 acres and includes a 16,060-square-foot building. The property is fully leased.

1500 J P Hennessy Drive is located in La Vergne, TN on 3.84 acres and includes an 18,421-square-foot building. The property was recently leased to Sunstate Equipment, a national equipment rental firm.

11 Sale/Leaseback Properties Occupied by Ahern Rentals

Additionally, IOV will manage 11 properties where Ahern Rentals is a tenant. Cumulatively, these properties include 48.13 acres of land and 293,036 square feet of buildings. Five of the properties are in FL, one each in GA and CA, two are in the Midwest and two are in Mid-Atlantic states.