Industrial Outdoor Ventures closes on largest managed truck and trailer parking lot in U.S.

Industrial Outdoor Ventures (IOV), the first national real estate investment company focused exclusively on the acquisition, development and re-development of Industrial Service Facilities, has acquired the largest managed truck and trailer parking lot in the United States from Norco Trucking Corp. Sale price was not disclosed.

The 44-acre lot is located at 1353 Jarvis Road in Saginaw, Texas, and features 1700 parking spaces for trucks, trailers, containers and chassis. It is strategically located near Alliance Business Park, the BNSF intermodal and Alliance Airport.

Flexibility is a hallmark of the property, which provides lease terms ranging from daily rate parking to multi-year contracts. For tenants seeking large scale, dedicated parking opportunities, IOV can provide multiple acres to any single user.

Immediate improvement plans for the Saginaw facility include additional site lighting, upgraded surveillance cameras, upgraded staff facilities and implementation of Depot Systems, a well-known equipment tracking platform that allows transportation companies and shippers to track equipment moves.

“This managed parking model can be replicated at major transportation centers and consumption zones around the country,” said JD Salazar, IOV COO.

Following a rebrand of the Saginaw property, which will become Park My Truck, the company will launch a new business unit with the same name whose goal is to acquire and develop these facilities in major markets throughout the country.

Industrial Service Facilities (ISF) are mission critical facilities that are used to store, maintain and dispatch equipment and/or bulk material. They are primarily used by the transportation, construction, construction material and utility industries.

IOV’s seeks to acquire $100 million in assets over the next 12 months with a five-year plan to amass more than $500 million in ISF properties in major markets throughout the U.S.