A 7-acre site with industrial outdoor storage and a 27,000-square-foot industrial building in El Monte has received $20 million in refinancing. Century City-based Bandon Capital Advisors arranged the loan with a life insurance company lender on behalf of an undisclosed private investor.
Industrial outdoor storage, which is casually known as IOS among industry professionals, refers to a niche commercial property asset type that has grown in popularity in recent years.
The El Monte transaction highlights this asset type’s growing popularity, particularly in strong industrial markets like Los Angeles, according to Bryan Kenny, co-founder and president at Bandon Capital Advisors.
“Demand for IOS properties is increasing as investors seek assets that are both protected from downside risk and offer the potential for rising value in the current uncertain economic climate,” Kenny said.
