Dallas-based Transwestern Investment Group has acquired a 1.5 million-square-foot industrial portfolio in Southeast Columbus. The purchase, made on behalf of TSP Value and Income Fund II, follows the fund’s strategy of acquiring undervalued assets in infill, last-mile locations.
The three bulk industrial buildings bring the value-add real estate fund’s industrial portfolio to more than 4 million square feet in the Midwest markets, where it adds value through local market experts, tactical capital investment and a comprehensive marketing strategy.
The properties — at 3800 Lockbourne Road, 4150 Lockbourne Road and 3880 Groveport Road — are nearly 50 percent leased.
The Columbus industrial market continues to outperform the national market, with overall market vacancy at 4.5 percent and 5.9 percent rent growth year-over-year, according to CoStar data.
The portfolio was acquired from a joint venture between Chicago’s Singerman Real Estate and Green Door Capital.