KCB Real Estate acquired Project Commerce, a portfolio of three mission-critical industrial assets comprised of two distribution and warehouse facilities in Bowling Green, Kentucky, as well as a flex-warehouse facility in Eden Prairie, Minnesota.

The distribution warehouses are positioned strategically due to their proximity to multiple major interstates, regional rail lines, and a large distribution hub comprised of roughly 20 million square feet of rentable industrial properties with 1% vacancy.

The flex-warehouse facility is ideally positioned within the Golden Triangle, one of the most desirable markets for office and industrial space in Minneapolis.

“The entire deal was sourced through a new operating partner who specializes in securing, managing, and leasing NNN industrial properties via sale-leaseback transactions,” said Megan Pautler-Gutnikov, Managing Director at KCB, noting that the transaction is structured at a strong going-in cap rate with a new long-term lease put in place and the tenant responsible for all property expenses.