Dalfen America Corp. (DAC) today announced the acquisition of two industrial properties located in Cincinnati, Ohio and Rogers, Minnesota totaling approximately 450,000 square feet.
The I-94 Distribution Center, built in 1999, is a 297,756 multi-tenant industrial property located in the Northwest submarket of Minneapolis, Minnesota. Currently 94% occupied and home to tenants including Guardian Building Products and others, the property fronts I-94 and located near the new FedEx Ground facility. Pete Rand, Executive Director of Cushman Wakefield/NorthMarq, arranged the transaction on behalf of the seller.
The Turfway Road Distribution Center, located adjacent to the Cincinnati/Northern Kentucky International Airport, is a 165,515 square foot shallow bay warehouse and distribution facility built in 1990. The 24′ clear facility is currently 45% occupied and was purchased via an off market transaction directly with the seller.
With the acquisition of these two properties, Dalfen will finish the year having closed transactions totaling approximately $400 million of properties in 15 metro markets across the country in 2016. “We continue to execute our strategy of buying buildings catering to ecommerce and fulfillment located in target markets across the country,” said Sean Dalfen, President. He added, “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.”