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Plymouth REIT Adds 2.2M SF in Illinois, Ohio, Tennessee
Plymouth Industrial REIT completed its previously announced acquisitions of industrial buildings in the Chicago, Cincinnati, Columbus and Memphis regions totaling 2.2 million square feet for total consideration of $90.5 million.
Nearly half the new acquisition total by square footage is accounted for by a Class B, seven-property portfolio in the Chicago area’s South Cook County submarket. In all, the Boston-based REIT acquired 15 properties ranging from less than 100,000 square feet to more than 450,000 square feet.
“These cities are some of the top distribution hubs and industrial markets in the country with access to large, highly skilled labor pools,” said Plymouth president Pendleton White Jr. “With each of these acquisitions, we have strategically grown our presence with locations that are hard to beat, possess very favorable rent growth dynamics in their submarkets and have strong occupancy and stable cash flows.”
Pictured: Cincinnati skyline
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