Curated News
By: NewsRamp Editorial Staff
August 26, 2025
Steel Peak Expands West Coast Portfolio with $6.2M Seattle IOS Acquisition
TLDR
- Steel Peak gains strategic advantage with its ninth IOS acquisition in Seattle, positioning for outsized returns in high-demand industrial outdoor storage markets.
- Steel Peak acquired a 2.40-acre IOS property for $6.2 million, featuring 3,000 sq ft shop space and over two acres of yard space for industrial use.
- Steel Peak's investments support construction and infrastructure growth, providing essential storage space that helps businesses operate efficiently and serve communities better.
- Steel Peak's rapid expansion includes nine properties across three states since January 2024, focusing on irreplaceable industrial sites with unique functional features.
Impact - Why it Matters
This acquisition reflects the growing demand for industrial outdoor storage properties driven by increased infrastructure spending and construction activity. For businesses in construction, equipment rental, and logistics, the limited supply of functional IOS properties means rising costs and competition for suitable operational space. Investors should note the strong fundamentals in this niche real estate sector, where limited new development and high replacement costs create favorable conditions for long-term rent growth and investment returns.
Summary
Steel Peak, a Southern California-based commercial real estate investment firm specializing in industrial outdoor storage (IOS) properties, has made its second Seattle acquisition this year with the $6.2 million purchase of a strategic property at 1503 Thornton Ave SW in Pacific, Washington. This acquisition marks the company's ninth property overall since its founding in January 2024, expanding its portfolio across Washington, California, and Utah. The 2.40-acre site features immediate access to Highway 167 and the Ports of Seattle and Tacoma, making it an ideal location for industrial service users.
According to Steel Peak Co-Founder Pasha Johnson, this acquisition strengthens the company's growing presence in the Seattle market, particularly in the Kent Valley and surrounding submarkets. Principal Blake Rodgers emphasized that demand from construction-related users, contractors, and equipment rental companies continues to outpace supply for functional IOS assets. The property includes a 3,000-square-foot maintenance shop with office space and over two acres of graveled and partially paved yard space, zoned for contractor yards, building material providers, equipment rental, and vehicle maintenance.
Newmark brokers Thad Mallory and Cam Warren represented both Steel Peak and the private seller in the transaction. Steel Peak continues to actively seek additional IOS investment opportunities throughout the Western U.S., targeting properties with capitalized values ranging from $3 million to $50 million. The firm invests both directly and through partnerships with institutional and high net-worth investors, maintaining a relationship-driven strategy focused on sourcing hidden opportunities that deliver outsized returns. For more information about their investment approach, visit www.steelpeakproperties.com.
Source Statement
This curated news summary relied on content disributed by citybiz. Read the original source here, Steel Peak Expands West Coast Portfolio with $6.2M Seattle IOS Acquisition
