Zenith Industrial Outdoor Storage acquires Phoenix IOS portfolio

JLL Capital Markets secures sale of an eleven-property industrial outdoor storage portfolio near Sky Harbor International Airport

PHOENIX, (Feb. 18, 2026) – JLL Capital Markets announced today the sale of the Phoenix Infill IOS Portfolio, a collection of eleven industrial outdoor storage properties totaling 280,000 square feet across 39 acres in Phoenix, Arizona.

JLL represented the seller, Hanson Capital, in the transaction. Zenith Industrial Outdoor Storage, in partnership with institutional investors advised by J.P. Morgan Asset Management, acquired the asset.

The portfolio consists of strategically positioned properties throughout Phoenix’s most infill submarkets, all located within seven miles of Sky Harbor International Airport, the ninth-busiest airport for travelers in the United States. The properties benefit from superior connectivity to major transportation arteries, including Interstate 10, Interstate 17, U.S. Highway 60, and Loop 202, providing seamless access to Western U.S. markets and the broader supply chain network.

Currently 100% leased to numerous tenants under triple-net lease structures, the diverse tenant roster includes companies across construction, logistics, manufacturing, and specialty services sectors.

The properties feature coverage ratios averaging 16% across the 39-acre land base. Several facilities include dock-high loading capabilities, substantial electrical power infrastructure, and grade-level loading access designed to accommodate the specialized operational requirements of IOS users.

Phoenix continues to attract significant industrial investment, driven by its position as America’s fifth-largest city and the anchor of the nation’s 10th-largest metropolitan area with 5 million residents. The Phoenix industrial market continues to drive institutional investor interest for both warehouses and IOS.

The JLL Capital Markets team was led by Senior Managing Director Ben Geelan, Senior Director Greer Oliver, Associate Bryce Beecher, and Analyst Gigi Martin.

“The Phoenix Infill IOS Portfolio offered an opportunity to acquire an unrivalled collection of IOS assets diversified with stabilized leases and staggered rollover, along with immediate mark-to-market potential,” said Geelan. “We are proud to have secured this exceptional transaction that provides immediate scale in the emerging IOS asset class within Phoenix’s modern infrastructure and superior freeway connectivity that attracts e-commerce, manufacturing and logistics companies.”

Chris Hanson, Founder and CEO of Hanson Capital Group, said, “This portfolio reflects our approach in the Southwest: focus on irreplaceable infill sites, underwrite tenant operations first, and execute with hands on asset management. We appreciate the trust our investors place in us.”

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory, and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.