December 13, 2018
Dallas-based Westmount Realty Capital, LLC acquired a 1.43 million square-foot industrial portfolio in Chicago, Cincinnati and Columbus, OH. Comprised of 12 buildings built between 1970 and 1994, the portfolio has clear heights ranging from 20 to 26 feet, an average office finish of 7% and an average historical tenant tenure of 12 years. The seller was Evergreen Industrial Properties.
Westmount’s Brian Scruggs says, “This portfolio presented Westmount with a unique opportunity to acquire a critical mass of well-located, infill industrial real estate in three of the strongest industrial markets in the Midwest.”
The Chicago area portfolio consists of a 123,986-square-foot single asset in Alsip that is currently 100% leased to four tenants. The Cincinnati portion of the portfolio includes a collection of seven assets. The Columbus portion of the portfolio consists of three infill properties in the West submarket, and one 289,491-square-foot asset located south in the Rickenbacker submarket.
*Pictured 1999 Dividend Dr., Columbus, OH
For comments, questions or concerns, please contact Dennis Kaiser