Peakstone Realty Trust Expands with Major Acquisition

Peakstone Realty Trust ( (PKST) ) has provided an update.

Peakstone Realty Trust has expanded its industrial portfolio by acquiring 51 industrial outdoor storage properties from a joint venture between Alterra IOS and J.P. Morgan Asset Management for $490 million. This strategic acquisition boosts Peakstone’s presence in a high-growth sector characterized by favorable dynamics and supply constraints, offering a potential 70% mark-to-market opportunity. The portfolio, spanning 440 acres across 14 states, is nearly fully leased to diverse tenants, enhancing Peakstone’s long-term growth and positioning it favorably within the industrial market.

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