WPT Industrial REIT has acquired a portfolio of 13 industrial buildings and three land parcels located in multiple markets in the United States, totaling approximately 2.2 million square feet of gross leasable area. The acquisition price was $226 million.
The acquisition portfolio increases the REIT’s scale in Chicago, Milwaukee and Minneapolis and adds properties in three new markets for the REIT, including the high-barrier coastal markets of Los Angeles and Miami. The portfolio also features well-located, highly functional distribution properties with a balanced blend of eight single-tenant and five multi-tenant buildings, which add scale and diversification to the REIT’s portfolio and tenant base.
