Industrial outdoor storage activity has soared in recent years. The product type has a limited supply, high-quality credit tenants and future development opportunities to a higher and better use.

Industrial outdoor storage is what it sounds like: massive parking lots and storage spaces used primarily for trucks, products that can't be stored in a warehouse, and other rental equipment.

In what may be the largest industrial outdoor storage deal ever in New Jersey, Chicago-based Ambient Capital Partners purchased six properties in Harrison and Kearny for $156.3 million.

Industrial outdoor storage is a relatively new term in real estate, used to describe typically open-air storage areas for trucks, construction equipment or other industrial assets.