ARCP buys industrial portfolio for $295m
American Realty Capital Properties has acquired a 2.5 million-square-foot industrial portfolio of energy-sector properties from Houston-based Mesa Real Estate Partners,for $295 million, or $123 per square foot.
JLL represented the seller.
The portfolio is part of a fully leased, single-tenant 75-building portfolio. The majority of the assets are in Texas.
The properties are heavily focused in markets driven by the energy industry. More than 80 percent of the buildings are in Texas, including 24 in the Dallas–Fort Worth area and eight in greater Houston. The others are in Oklahoma, Louisiana, Arkansas, New Mexico, North Dakota’s Bakken region, western Pennsylvania and eastern Ohio.