Dallas-based Dalfen Industrial announced that the company will partner with Goldman Sachs Merchant Banking Division on a 46-property last mile industrial portfolio.
The portfolio of over 6.3 million square feet caters to e-commerce-oriented tenants and is proximate to major population centers and/or key logistics corridors.
The portfolio provides distribution and fulfillment space in numerous major MSA’s such as: Atlanta, Dallas, Chicago, Orlando, Phoenix, Raleigh, Houston, Tampa, Baltimore, Minneapolis, Cincinnati, Columbus, Reno and Jacksonville.
The properties are valued at about $500 million, according to the Bloomberg report citing a person familiar with the matter.
With 94% occupancy and an average property size of 126,000 square feet, this high occupancy portfolio is home to major tenants such as Amazon, Frito Lay, Brinks, Central Garden & Pet, Pods, and Sherwin Williams.
“With the exponential growth of e-commerce, especially in the wake of COVID-19, these last mile properties are more important than ever,” said Sean Dalfen, president and CIO. “The partnership with Goldman Sachs allows us to offer the distribution and fulfillment center properties needed to meet that demand.”