Investcorp has acquired two industrial portfolios in the Minneapolis and Baltimore markets for a gross transaction value of more than $335 million.
The portfolios comprise a total of 27 properties and 2.7 million square feet. They are Minneapolis Industrial Portfolio, a 17-building portfolio spanning nearly 1.9 million square feet, and Baltimore Industrial Portfolio, a 10-building portfolio totaling approximately 881,000 square feet.
“The evolution of supply-chain logistics over the past several years has continued to support demand in the U.S. industrial sector, which has retained its strong fundamentals throughout market cycles despite broader economic volatility. With ecommerce showing no sign of slowing and a lack of new supply for infill and urban products, we continue to believe in the long-term viability of the asset class,” said Herb Myers, global co-head of real assets at Investcorp.
As of fourth quarter 2024, market rent growth over the past three
