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JLL Brokers $50M Sale of Four-Property Midwest Industrial Portfolio
JLL arranged the $50.5 million sale and secured acquisition financing for the Midwest Distribution Portfolio, a strategically positioned collection of four industrial properties totaling 608,316 square feet across the Minneapolis and Milwaukee metropolitan areas.
JLL represented the seller, Biynah Industrial Partners, in the transaction. Working on behalf of the new owner, JLL also secured the acquisition financing. The JLL Capital Markets team was led by Senior Managing Directors Colin Ryan and David Berglund, Managing Director Ed Halaburt and Colliers International Partner, Tom Shepherd. Financing was arranged by JLL’s Senior Managing Director Matthew Schoenfeldt and Managing Director Lucas Borges.
The fully occupied portfolio includes a 265,516-square-foot distribution center in Lino Lakes, Minnesota, two buildings totaling 141,750 square feet in Pewaukee, Wisconsin and a 201,050-square-foot complex in Milwaukee adjacent to the international airport.
“We’ve seen transaction momentum in the Midwest pick up significantly as investors recognize the region’s supply constraints and strong fundamentals, with both Minneapolis and Milwaukee maintaining vacancy rates well below the national average,” said Ryan.
