The industrial outdoor storage (IOS) sector is rapidly gaining momentum in the United States, emerging as a key player in the industrial real estate landscape. Traditionally dominated by individual investors, the sector is now undergoing rapid institutionalization. While still in the early stages of widespread adoption, IOS is increasingly recognized for its crucial role within the broader industrial supply chain.
Ben Atkins and Daniel Laub, cofounders and managers of Zenith, believe the IOS market is “still in its early innings” in terms of adoption and institutionalization. Recently, Zenith closed its second IOS joint venture with institutional investors advised by J.P. Morgan Asset Management. This new venture aims to build on the success of their first, with plans to acquire approximately $700 million worth of IOS sites across the United States. Combined, these ventures will create one of the largest institutional-quality IOS portfolios in the nation, with a gross ass
