Transwestern Investment Group sells 2.9msf Midwest industrial portfolio

Transwestern Investment Group (TIG) has sold a 10-building, 2.9 million-square-foot industrial portfolio on behalf of its discretionary investment fund, TSP Value and Income Fund II. The properties, which were 100 percent leased at the time of sale to Stockbridge, span Missouri, Indiana and Ohio.

“The disposition reaffirmed TIG’s strategy to aggregate high-performing Midwest industrial product to create a multimarket portfolio that would provide the buyer an immediate presence in the region at a purchase price below replacement cost,” said Ryan Grable, vice president at TIG. “Historically low industrial cap rates and high demand among investors made this the right time to sell the portfolio.”

The portfolio includes five buildings in St. Louis, two buildings in Indianapolis and three buildings in Columbus, ranging from 125,000 square feet to 706,000 square feet. St. Louis, Indianapolis and Columbus are important ecommerce markets experiencing low industrial va