Property FundsWorld
Dalfen America Corp (DAC) has acquired an industrial real estate portfolio comprised of 23 buildings located in the Columbus, Cincinnati and Cleveland metropolitan markets.
Michael Caprile and Ted Staszak, with CBRE’s Chicago office, represented the seller on the transaction.
The Ohio Light industrial portfolio, totalling 2,077,743 square feet, is currently 94 per cent leased and includes 6.5 acres of land for future development. Notable tenants in the properties include The Home Depot, T- Mobile US Inc, Bosch Auto Parts, The Nexio Group Inc. and The Black and Decker Corporation.
Ohio is home to 23 Fortune 500 Headquarters and has created the 5th most jobs in the country since 2011, ranking first amongst the Midwest. Ohio’s logistics and transportation industry is currently one of the largest in the nation with a total economic output of USD5.2 billion.
This transaction marks the latest acquisition by Dalfen’s Core-Plus Industrial Fund, Ashrei III. “These light industrial buildings are located in markets with strong fundamentals and some of the highest year over year rental growth in the country,” says Sean Dalfen, President and CIO of DAC. “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.” He added, “We continue to grow our national industrial portfolio by building a strategic presence in key target markets across the country.”
