SparrowHawk Buys $400M Midwest Industrial Portfolio

SparrowHawk has completed its largest transaction ever, acquiring a 20-property, 4.4 million-square-foot portfolio located across six Midwest logistics markets. The acquisition price was just under $400 million.

The assets are in St. Louis, Cincinnati, Cleveland, Columbus, Dayton and Louisville. The portfolio includes a tenant mix of national and regional companies operating across logistics, distribution, manufacturing, e-commerce, pharmaceutical and related industries. EQT was the seller of the portfolio, and JLL’s Industrial Capital Markets group represented both EQT and SparrowHawk in the transaction.

“This acquisition accelerates SparrowHawk’s strategic expansion in the Midwest with a portfolio that is integral to connecting industrial occupiers to the large consumer markets driving logistics and e-commerce growth,” said Alfredo Gutierrez, President and Founder, SparrowHawk.

In 2025, SparrowHawk secured approximately $300 million in growth capital through a joint venture with Almanac Realty Investors of New York. SparrowHawk then acquired assets totaling 1.13 million square feet with a combined value of $85 million in Kansas City and St. Louis.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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