Crow Holdings has sold an eight-property industrial portfolio comprising 15 buildings and totaling 4.7 million square feet of space to PGIM Real Estate. The sales price is estimated to be $425 million.
This sale represents one of the largest portfolios of industrial assets to sell during the COVID-19 pandemic.
The eight properties are located in five key U.S. markets: Atlanta, Dallas, Denver, Fort Worth and Phoenix — all of which are growing population centers located near gateway airports. Across the portfolio, leased occupancy improved three-fold during the sale process. Tenants include an array of national retail chains and corporations.
