{"id":1004319509,"date":"2019-04-24T02:13:58","date_gmt":"2019-04-24T10:13:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004319509"},"modified":"2019-04-24T02:13:58","modified_gmt":"2019-04-24T10:13:58","slug":"transwestern-buys-1-5-msf-industrial-portfolio-in-columbus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/transwestern-buys-1-5-msf-industrial-portfolio-in-columbus\/","title":{"rendered":"Transwestern Buys 1.5 MSF Industrial Portfolio in Columbus"},"content":{"rendered":"
\"\"<\/a>

3880 Groveport. Image courtesy of Transwestern Investment Group<\/em><\/p><\/div>\n

Transwestern Investment Group has acquired a three-property, 1.5 million-square-foot industrial portfolio in Columbus, Ohio, on behalf of its TSP Value and Income Fund II, from a joint venture between Singerman Real Estate and Green Door Capital.<\/p>\n

Earlier this month, TIG raised $200 million<\/a> to start the TSP Value and Income Fund II, which is targeting a 12.5 percent or higher net IRR for investors.<\/p>\n

\u201cThe portfolio fits with the fund\u2019s strategy to acquire undervalued assets in infill, last-mile locations,\u201d<\/em> Chris Sterling, TIG\u2019s vice president, told Commercial Property Executive<\/em>. \u201cColumbus is a key e-commerce and logistics market that continues to outperform the national market. The portfolio has one of the only bulk availabilities in the market and will be poised to take advantage of these strong market fundamentals.\u201d<\/em><\/p>\n

The trio of bulk industrial buildings in the portfolio consists of the 706,162-square-foot building at 3880 Groveport Road; a 403,122-square-foot building at 3800 Lockbourne Industrial Parkway; and the 398,471-square-foot building at 4150 Lockbourne Industrial Parkway. The properties feature clear heights ranging from 22 to 24 feet and have more than 400 trailer storage spaces and over 500 car parking spaces combined. TIG now plans to make several cosmetic improvements on all the properties in the portfolio.<\/p>\n

\u201cThe Columbus market continues to outperform the national market, with overall market vacancy at 4.5 percent and strong year-over-year rent growth at 5.9 percent,\u201d <\/em>Sterling said. \u201cThe acquisition will take advantage of a tight submarket with limited bulk availabilities and a limited construction pipeline through the lease-up of 3880 Groveport, which is one of the only bulk options currently in the market.\u201d<\/em><\/p>\n

Increasing industrial demand
\n<\/strong><\/h2>\n

According to Sterling, Columbus\u2019 central location is ideal for e-commerce and logistics companies and that makes these properties in demand.<\/p>\n

\u201cThe properties benefit from their proximity to major transportation infrastructure, which includes Rickenbacker International Airport, the Norfolk Southern Intermodal Park and Interstate 270,\u201d<\/em> he said. \u201cThe properties are located inside of I-270 and are true last-mile locations that will benefit going forward as last-mile becomes even more critical for tenants.\u201d<\/em><\/p>\n

HFF\u2019s Kurt Sarbaugh and Robin Stolberg represented the seller in the transaction. The firms\u2019 debt placement team of Ken Martin and Brian Carlton represented the owner.<\/p>\n","protected":false},"excerpt":{"rendered":"

A joint venture between Singerman Real Estate and Green Door Capital has sold a collection of three properties to the firm’s new TSP Value and Income Fund II.<\/p>\n","protected":false},"author":451,"featured_media":1004319533,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1585,21743,21808,21748,21783,13,21742],"tags":[32914,32792,43481,33313],"class_list":["post-1004319509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-columbus","category-deals","category-featured","category-industrial","category-investment","category-midwest","category-latest","tag-e-commerce","tag-hff","tag-singerman-real-estate","tag-transwestern"],"acf":[],"yoast_head":"\nTranswestern Buys 1.5 MSF Industrial Portfolio in Columbus - 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\/transwestern-buys-1-5-msf-industrial-portfolio-in-columbus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Transwestern Buys 1.5 MSF Industrial Portfolio in Columbus\" \/>\n<meta property=\"og:description\" content=\"A joint venture between Singerman Real Estate and Green Door Capital has sold a collection of three properties to the firm's new TSP Value and Income Fund II.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/transwestern-buys-1-5-msf-industrial-portfolio-in-columbus\/\" \/>\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=\"2019-04-24T10:13:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/3880-Groveport.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=\"Keith Loria\" \/>\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\/transwestern-buys-1-5-msf-industrial-portfolio-in-columbus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/transwestern-buys-1-5-msf-industrial-portfolio-in-columbus\/\",\"name\":\"Transwestern Buys 1.5 MSF Industrial Portfolio in Columbus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/transwestern-buys-1-5-msf-industrial-portfolio-in-columbus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/transwestern-buys-1-5-msf-industrial-portfolio-in-columbus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/3880-Groveport.jpg\",\"datePublished\":\"2019-04-24T10:13:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/transwestern-buys-1-5-msf-industrial-portfolio-in-columbus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/transwestern-buys-1-5-msf-industrial-portfolio-in-columbus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/transwestern-buys-1-5-msf-industrial-portfolio-in-columbus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/3880-Groveport.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/3880-Groveport.jpg\",\"width\":800,\"height\":620,\"caption\":\"3880 Groveport. 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