Newest Purchase Brings Phoenix Portfolio of Owned and Managed Assets to Seven
ROSEMONT (June 16, 2025)—Industrial Outdoor Ventures (IOV), a leading national investor and operator of industrial outdoor storage (IOS) facilities, has completed its sixth acquisition in the Phoenix market with the purchase of 2115 S 16th St, a 4.36-acre property with six maintenance and office buildings totaling 33,266 SF. The acquisition brings IOV’s Phoenix footprint to over 296,000 square feet and 65 acres.
Located one mile from Sky Harbor International Airport and directly adjacent to I-17 and I-10, the property offers immediate access to Phoenix’s core distribution corridors, as well as proximity to downtown and major transportation infrastructure. The Airport submarket continues to benefit from strong tenant demand with limited supply of heavily zoned industrial land.
The six structures offer high-clear maintenance bays, lower-clear shop space, will-call areas, and several dedicated offices. The property is leased to two tenants: Action Scaffolding, a leading regional construction support firm utilizing the site for equipment storage, scaffold fabrication, and its headquarters; and Johnson Controls (NYSE: JCI), a global building systems and HVAC leader, which has operated onsite for more than a decade as a key hub supporting regional infrastructure projects.
“This transaction reflects IOV’s continued focus on acquiring well-located, functional maintenance facilities in high-growth, low-vacancy markets,” said Ben Backer, Acquisition Officer – Western Region, Industrial Outdoor Ventures. “The credit tenancies, existing improvements, and proximity to Phoenix airport and downtown make this a logical addition to our portfolio.”
Michael Kitlica of Cushman & Wakefield represented IOV in the transaction.
With this acquisition, IOV has surpassed the $1 billion in assets under management milestone. The current IOV portfolio consists of more than 80 assets in 18 markets and is comprised of more than 1,000 acres of improved land/yard area and more than 2.4 million square feet of buildings.
The acquisition also represents the second property IOV has acquired in the Phoenix marketplace in the last 60 days. In late April, IOV completed its sixth acquisition in the Phoenix market: 2816 N. 27th Ave. (“27th”), a 2.65-acre site featuring a ±9,870-square-foot equipment maintenance facility. The property is currently being marketed for lease.
ERIC JOHNSON
Senior Vice President, Development & Acquisitions
Phone: 312.898.2978
Email: eric@iovre.com
BEN BACKER
Acquisitions Officer
Phone: 317.750.0007
Email: ben@iovre.com