Dalfen America Lands 450KSF Industrial Properties
Located in Cincinnati and the Minneapolis suburb of Rogers, the two assets were purchased for an undisclosed amount.
By Laura Calugar
The Turfway Road Distribution Center in Rogers, Minn.
Cincinnati & Minneapolis—Dalfen America Corp. announced the acquisition of two industrial properties located in Cincinnati and Rogers, Minn., totaling approximately 450,000 square feet.
Located adjacent to the Cincinnati/Northern Kentucky International Airport, the Turfway Road Distribution Center is a 165,515-square-foot warehouse and distribution facility built in 1990. The 24-foot clear facility is currently 45 percent occupied and was purchased via an off market transaction directly with the seller.
Built in 1999, the I-94 Distribution Center is a 297,756-square-foot multi-tenant industrial property located in Minneapolis’ Northwest submarket of Rogers. The property fronts I-94 and is located near the new FedEx Ground facility. Currently, the building is 94 percent leased and includes tenants such as Guardian Building Products. Pete Rand, executive director of Cushman & Wakefield/NorthMarq arranged the transaction on behalf of the seller.
The I-94 Distribution Center in Cincinnati
“We continue to execute our strategy of buying buildings catering to ecommerce and fulfillment located in target markets across the country. We continue to be one of the largest buyers of industrial real estate in the country and in 2017 we anticipate to increase our acquisition volume substantially,” said Sean Dalfen, president of Dalfen America Corp., in prepared remarks.
With the acquisition of these two properties, Dalfen will finish the year having closed transactions totaling approximately $400 million in 15 metro markets across the country in the last 12 months.
Images courtesy of Dalfen America Corp.
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