November 06, 2017
Dallas – Transwestern Investment Group (TIG®) today announces it has acquired a nine-building industrial portfolio exceeding 2.5 million square feet. With this acquisition, the TIG Midwest industrial portfolio has surpassed 10 million square feet.
“We were attracted to this portfolio because of its strong in-place cash flow with tenant and market diversity, staggered rollover and limited near-term capital expenditures,” said John Higgins, Director of Acquisitions at TIG. “We believe tenant demand and vacancy in St. Louis and Indianapolis are favorable for industrial landlords, and e-commerce will further drive demand in Midwest cities with well-developed transportation networks, access to skilled labor and proximity to the majority of the nation’s population.”
The buildings provide modern bulk designs with low office finishes, ample truck courts, and clear heights ranging from 22 to 39 feet. Located along the Interstate 70 transportation corridor that bisects the country, the properties include the following:
· 28 W. Gateway Commerce in St. Louis: 500,000 square feet
· 4702 Park 370 Blvd. in St. Louis: 494,333 square feet
· 1600 – 4774 Park 370 Place in St. Louis: 319,184 square feet
· 1010 Turner Road in St. Louis: 248,635 square feet
· 1602 – 1620 Park 370 Court in St. Louis: 215,935 square feet
· 22 W. Gateway Commerce in St. Louis: 155,700 square feet
· 1430 S. Third St. in St. Louis: 125,712 square feet
· 6030 Gateway Drive in Indianapolis: 274,530 square feet
· 5345 Decatur Blvd. in Indianapolis: 193,055 square feet
The portfolio was 92 percent leased at the time of sale. Jay Borzi, Steve Silk and Josh McArtor of Eastdil Secured brokered the transaction on behalf of the seller.
ABOUT TRANSWESTERN INVESTMENT GROUP
Transwestern Investment Group (TIG®) is an investment adviser serving a broad range of investors through a diversified array of discretionary and non-discretionary investment vehicles. Our client-focused, relationship-driven approach ensures our priorities are our clients' investment objectives. With $3 billion of assets under management, trust, integrity and transparency are the cornerstones of our business. TIG provides tactical investment management with an integrated operating platform through the Transwestern family of companies, which includes a diversified real estate services firm with 35 U.S. offices and a development company. For more information, visit transwesterninvest.com.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
Media Contact:
Stefanie Lewis
713.272.1266
stefanie.lewis@transwestern.com
twmediarelations@transwestern.com