PCCP, Capital Partners Acquire Minnesota Industrial Portfolio
ByA joint venture between PCCP LLC and Capital Partners LLP has acquired a seven-property industrial portfolio in and around the metro area of Minneapolis, Minn., from Artis. At the time of the sale, the 1.2 million-square-foot portfolio was 82 percent leased.
“Venturing with Capital Partners on this acquisition was a good fit and strategic investment for PCCP,” Brendan Shanahan, PCCP’s vice president, said in a prepared release. “This is a cash-flowing, well-located portfolio that we were able to acquire at an attractive basis. Additionally, this was a rare opportunity to acquire a portfolio of this size as it is the largest offering for multi-tenant industrial real estate in the Minneapolis?St. Paul metro since 2012.”
The portfolio consists of properties located within infill locations near freeways throughout the Minneapolis area. The assets are situated within six and 14 miles from downtown Minneapolis…
PCCP, Capital Partners Acquire Minnesota Industrial Portfolio
