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Transwestern Investment Group Divests Multimarket Industrial Portfolio
Transwestern Investment Group (TIG) has sold a 10-building, 2.9 million-square-foot industrial portfolio on behalf of its discretionary investment fund, TSP Value and Income Fund II. The properties, 100% leased to Stockbridge, span Missouri, Indiana and Ohio.
“The disposition reaffirmed TIG’s strategy to aggregate high-performing Midwest industrial product to create a multimarket portfolio that would provide the buyer an immediate presence in the region at a purchase price below replacement cost,” said Ryan Grable, VIP at TIG. “Historically low industrial cap rates and high demand among investors made this the right time to sell the portfolio.”
The portfolio includes five buildings in St. Louis, two in Indianapolis and three in Columbus, ranging from 125,000 to 706,000 square feet. TIG notes that St. Louis, Indianapolis and Columbus are experiencing low industrial vacancy, positive net absorption and year-over-year rent growth.
CBRE’s Michael Caprile and Zachary Graham represented TIG. Buyer and price weren’t disclosed.
- ◦Sale/Acquisition