EQT Buys 1.6 MSF Industrial Portfolio
The assets are located across seven markets.
EQT Real Estate has acquired a 13-asset logistics portfolio totaling more than 1.6 million square feet through EQT Real Estate Industrial Value Fund VI. CBRE represented the seller.
Located in Orlando, Fla., Jacksonville, Fla., Chicago, Greenville-Spartanburg, S.C., Houston, San Antonio and Indianapolis, the assets are institutional-grade buildings with an average construction year of 2015, according to EQT. They function as regional and last-mile distribution to large population centers.
The properties feature 30-foot clear heights and flexible configurations as to create small-to-mid-sized footprints, which the buyer notes are in strong demand. That is the case as new development is constrained by rising construction costs and land scarcity.
The acquisition aligns with EQT’s strategy of pursuing infill assets, CIO Matthew Brodnik said in prepared remarks. José Lobón of CBRE National Partners advised the seller in the transaction.
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EQT Real Estate has been an energetic industrial asset buyer recently, purchases including both single assets and portfolios. In July, the company acquired a 2.4 million-square-foot portfolio for $241.2 million from Mapletree Investments. That deal involved properties in Florida, Georgia and Texas markets.
The same month, EQT Real Estate acquired a 2 million-square-foot industrial portfolio in Manteca, Calif., also through its Industrial Value Fund VI. The assets traded for $264 million.
EQT Exeter REIT also makes acquisition
In a separate deal, EQT Exeter Real Estate Income Trust, a related company, acquired a 76,007-square-foot industrial property in Torrance, Calif., for $51.5 million. The asset occupies about 9.6 acres in the South Bay submarket of Los Angeles, another supply-constrained logistics hub, with proximity to the ports of Los Angeles and Long Beach.
PepsiCo previously owned the property at 1500 Francisco St., Yardi Matrix data shows, and will continue to occupy it under a sale-leaseback agreement. Completed in 2000, the LEED Platinum-certified building features a 30-foot clear height and about 12 percent office build-out. There are multiple EV charging stations to support zero-emission last-mile delivery fleets.
The deals came at a time of industrial development contraction. In November 2024, developers had broken ground on 22.9 million square feet of U.S. industrial space, which was less than the go-go period immediately after the pandemic, but still active. By November 2025, however, starts collapsed to just 8.7 million square feet, marking a 62 percent decline, according to Yardi Matrix data.
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