Goldman Sachs, Dalfen Industrial acquire 10 last mile properties

Goldman Sachs, Dalfen Industrial acquire 11 last mile properties
Interstate Park Logistics Center

Goldman Sachs Merchant Banking Division and Dalfen Industrial have purchased 10 last mile properties.

The properties are located in Denver, West Palm Beach, Charlotte, San Antonio, and Fort Worth, bringing the partnership total to date to over 8 million square feet of infill industrial acquisitions, of which the partnership has exited 9 assets totaling 896,205 SF.

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“Dalfen Industrial is excited about the expansion of our partnership with Goldman Sachs with the addition of eleven more best-in-class, last mile industrial properties in key markets,” said Sean Dalfen, President & Chief Investment Officer at Dalfen Industrial.

”The partnership between Dalfen Industrial and Goldman Sachs now sits at 52 properties totaling 7.13M square feet in 19 major US markets in 10 states.”

Two of the acquisitions are located in the West Palm Beach market – a key location to service South Florida. Built in 1996, the 204,900 square foot property, Interstate Park Logistics Center, fronts I-95 and is 100% occupied by its long-term tenant, Serta. The Blue Heron Logistics Center is a 152,052 square foot industrial facility located on Blue Heron Blvd., the major thoroughfare through West Palm Beach. The property’s largest tenant is Fedex Home Delivery.

The Denver property, Aurora Center at Gateway I, is a 75,000 square foot industrial property located in the northeast submarket nearly halfway between downtown Denver and the Denver International Airport. The property resides in the Denver’s largest submarket and is within a 30-minute drive of 1.8 million people – half of the Denver MSA population.

The partnership also acquired CLT Fulfillment Center in Charlotte, North Carolina – a 58,160 square foot facility just south of Charlotte Douglas International Airport.

The overall portfolio grew by 6 industrial buildings in Texas – a state that continues to see rapid population growth and influx of businesses to the state. Mark IV Commerce Center is a newly constructed, three-building, 1,025,500 square foot industrial park Fort Worth, Texas. At the major intersection of I-35 and I-820, these assets are located in one of the fastest growing submarkets in the Dallas/Fort Worth metroplex. Mark IV is in close proximity to three airports – Dallas/Fort Worth International Airport, Alliance Airport, and Meacham International Airport. The other three Texas assets are located in Schertz, Texas, a rapidly growing submarket of San Antonio. Located between the San Antonio MSA and Austin MSA, these last mile locations allow tenants to service 3.5 million people. Built in 2016, Tri-County 5 & 7 total 211,950 square feet. Built in 2018. Schertz Distribution Center is a 187,288 square foot property is within a mile of the Tri-County properties. The three Schertz properties are almost 80% occupied at time of acquisitions including tenants such as Brinks and TJ Maxx.