Disposition of Last Asset in 2.5 MSF Midwest Industrial Portfolio
December 07, 2022
ST. LOUIS – Transwestern Investment Group (TIG®) on behalf of its discretionary investment fund, Transwestern Strategic Partners Fund II (“TSP Fund II”), announces the sale of 28 Gateway Commerce Center, a 500,000-square-foot, Class A cross-dock warehouse in Edwardsville, Illinois. The property was fully leased to Walgreens.com, Inc. at the time of sale.
TIG acquired the property in 2017 as a part of a 2.5-million-square-foot industrial portfolio, marking the first investment by TSP Fund II. With the completion of this transaction, the portfolio is now fully liquidated.
“The exceptional performance of this investment was a combination of our team’s ability to acquire these assets at an attractive basis, successfully lease over 2 million square feet to high-quality tenants and realize maximum value creation by tactically executing portfolio and single-asset dispositions over the last 17 months,” said Chris Sterling, Director of Acquisitions for TIG.
St. Louis is an increasingly important e-commerce market. In the third quarter of 2022, the industrial real estate sector experienced annual rent growth of more than 13 percent and posted an overall vacancy of just 3.5 percent, according to Transwestern research.
Caitlin Clinton and Josh McArtor from Eastdil Secured represented TIG in the transaction.
Photography available for download here.
In October 2022, TIG announced the close of Transwestern Strategic Partners Fund III. The fund closed with $325 million of commitments, the company’s largest fundraise to date. Similar to TSP Fund II, TSP Fund III focuses on diversified value-add investment and development opportunities in markets across the U.S. that are driven by strong job growth and global supply chains.
About Transwestern Investment Group
Transwestern Investment Group (TIG®) is a real estate investment adviser with $5.3 billion of assets under management. The firm serves a broad range of institutional and high-net-worth investors with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for investors across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
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.
The investors included in this press release were not selected based on performance, but because they are some of the largest well-known investors with similar strategic alliances. It is not known whether these investors approve or disapprove of TIG or the services or products it provides.