Brookfield Asset Management and Blackstone have taken different positions in U.S. industrial outdoor storage, where CNBC reported average rent per usable acre more than doubled from 2020 through the third quarter of 2026.
Brookfield completed its all-cash acquisition of Peakstone Realty Trust on May 6, 2026, at a valuation of about $1.2 billion, according to its filing with the Securities and Exchange Commission. Peakstone’s February deal filing described 76 industrial properties: 60 outdoor storage sites and 16 traditional industrial properties.
Alterra IOS said it closed a $244 million loan from Blackstone Real Estate Debt Strategies on June 5, 2026. The initial funding was secured in part by 37 outdoor storage properties across 27 markets, totaling 165 usable acres and 806,000 square feet of warehouse space.
CNBC’s Nov. 14 report, citing Newmark Research and Alterra IOS data, put average monthly rent per usable acre across eight major U.S. markets at nearly $11,000, up 103.5% from 2020. CNBC also reported a 66% increase in traditional industrial rents over the same period. It said Baltimore rents rose 204%, Houston 159% and Norfolk 148%; in South Florida and Savannah, IOS rent growth trailed traditional industrial.
Businesses use these parcels to park truck and trailer fleets, store equipment and stage materials. Newmark’s July 2025 report put a typical site at one to 15 acres, with buildings occupying less than one-fifth of the land. It said zoning constraints make it harder to add IOS sites and described ownership and pricing as spread across a fragmented market.
In a separate analysis of 15 markets, Newmark reported IOS rent growth of 122.8% from 2020 through year-to-date 2025, compared with 60.3% for bulk warehouses. That market sample and period differ from CNBC’s later figures. Newmark also identified megaprojects, infrastructure investment and specialized fleet networks as possible sources of demand.
Alex Sutterer, executive vice president at NAI Hiffman, told CNBC, “Institutional capital has increased competition in IOS.” Alterra said future loan funding was scheduled for acquisitions.
