{"id":1004306588,"date":"2019-03-07T04:59:37","date_gmt":"2019-03-07T12:59:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004306588"},"modified":"2019-03-07T05:00:20","modified_gmt":"2019-03-07T13:00:20","slug":"colony-industrial-buys-1b-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/colony-industrial-buys-1b-portfolio\/","title":{"rendered":"Colony Industrial Buys $1B Portfolio"},"content":{"rendered":"
\"LogistiCenter<\/a>

LogistiCenter at 167<\/p><\/div>\n

Colony Industrial has just expanded its holdings by 11.9 million square feet in one fell swoop. The company, which is the industrial platform of global investment management firm Colony Capital Inc., acquired a 54-building national portfolio from Dermody Properties in a nearly $1.2 billion transaction.<\/p>\n

\u201cThis acquisition was very strategic for our business, because while there are always a lot of small to medium-sized acquisition opportunities available for us to pursue, we rarely see a large, national light industrial portfolio of this size and quality,\u201d<\/em> Lew Friedland, managing director at Colony Capital Inc. & head of Colony Industrial, told Commercial Property Executive<\/em>.<\/p>\n

\"Lew<\/a>

Lew Friedland, Managing Director at Colony Capital & Head of Colony Industrial<\/p><\/div>\n

Colony Industrial\u2019s newly acquired collection of premier buildings is located in seven states\u2014California, Illinois, Kentucky, Nevada, Oregon, Pennsylvania and Washington\u2014and spans 10 markets, including metropolitan Seattle, home to LogistiCenter at 167, a 226,000-square-foot warehouse\/distribution center in Fife, Wash. The group of properties encompasses 48 last-mile light industrial buildings purchased via Colony Industrial\u2019s light industrial platform, and six bulk industrial facilities acquired through a new joint venture with an institutional investor. The portfolio, which has an average age of four years, is 71 percent leased and increases Colony Industrial\u2019s square footage by 25 percent.<\/p>\n

CBRE National Partners represented Dermody in the transaction.<\/p>\n

Locking in on light industrial<\/strong><\/h2>\n

With the acquisition from Dermody, Colony Industrial\u2019s presence in the coveted light industrial subsector<\/a> increases by 7.7 million square feet across nine markets. The transaction marks the company\u2019s second move this year in a bid to grow its light industrial footprint. In a joint venture with developer Huntington Industrial Partners, Colony Industrial completed the acquisition of 21 acres of land in Dallas for the development of two light industrial buildings totaling 355,000 square feet.<\/p>\n

Images courtesy of Colony Industrial<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The company acquired the seven-state collection of high-quality facilities from Dermody Properties, enhancing its footprint by 11.9 million square feet. <\/p>\n","protected":false},"author":969,"featured_media":1004306618,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,21783,23891,21742],"tags":[32789,33283,36664,34989],"class_list":["post-1004306588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-investment","category-national","category-latest","tag-cbre","tag-colony-capital-inc","tag-dermody-properties","tag-huntington-industrial-partners"],"acf":[],"yoast_head":"\nColony Industrial Buys $1B Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/colony-industrial-buys-1b-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Colony Industrial Buys $1B Portfolio\" \/>\n<meta property=\"og:description\" content=\"The company acquired the seven-state collection of high-quality facilities from Dermody Properties, enhancing its footprint by 11.9 million square feet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/colony-industrial-buys-1b-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-07T12:59:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-07T13:00:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/LogistiCenter-at-167.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/colony-industrial-buys-1b-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/colony-industrial-buys-1b-portfolio\/\",\"name\":\"Colony Industrial Buys $1B Portfolio - 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