Dalfen Increases Ohio Presence with Acquisition of 23-Building Industrial Portfolio
- Apr 18, 2016
Cincinnati—Dalfen America Corp. of Dallas announced it has acquired an industrial real estate portfolio comprised of 23 buildings located in the Cincinnati, Columbus and Cleveland metropolitan markets. The financial terms of the transaction were not disclosed.
Michael Caprile and Ted Staszak of CBRE’s Chicago office represented the seller in the transaction. The Ohio light industrial portfolio encompasses 2,077,743 square feet and includes 6.5 acres of land for future development. At the time of the sale, the portfolio was 94 percent leased to a roster of tenants including Home Depot, T-Mobile US Inc., Bosch Auto Part, The Nexio Group Inc. and The Black and Decker Corp.
“These light industrial buildings are located in markets with strong fundamentals and some of the highest year over year rental growth in the country,” said Sean Dalfen, president & chief information officer of Dalfen America Corp.
The transaction marks the latest acquisition by Dalfen’s Core-Plus Industrial Fund, Ashrei III.
“The evolution of e-commerce has made it increasingly important for companies to have fulfillment facilities in infill metro locations in order to expedite delivery of goods to consumers. These properties are ideally tailored to serve that demand and the acquisition of these properties further strengthens our Midwest presence,” continued Dalfen. He added, “We continue to grow our national industrial portfolio by building a strategic presence in key target markets across the country.”
Image courtesy of Dalfen America Corp.