April 22, 2019
A three-building, 1.5-million-square-foot industrial portfolio in Columbus, OH has traded hands for a reported $32 million. Transwestern Investment Group purchased the assets on behalf of TSP Value and Income Fund II from a joint-venture between two Chicago-based private equity firms, Singerman Real Estate and Green Door Capital.
The portfolio comprises three distribution buildings on the near southeast side of the Columbus metro area, including the 706,162-square-foot building at 3880 Groveport Rd. (pictured), a 403,122-square-foot building at 3800 Lockbourne Industrial Pkwy., and the 398,471-square-foot building at 4150 Lockbourne Industrial Pkwy.
The portfolio is roughly 50% leased to four tenants, and features clear heights of 22 to 24 feet and more than 500 car and 400 trailer parking positions across the three assets.
HFF’s Kurt Sarbaugh and Robin Stolberg handled the sale for the JV. HFF’s Ken Martin and Brian Carlton placed the acquisition loan with TBK Bank, SSB.
For comments, questions or concerns, please contact Dennis Kaiser