Cision PR Newswire
Dalfen Industrial Commits $430M of Industrial Properties in December
News provided byDalfen Industrial
Jan 25, 2022, 8:33 AM ET
DALLAS, Jan. 25, 2022 /PRNewswire/ -- Dalfen Industrial, one of the largest industrial real estate buyers and developers, committed $430 million of industrial properties across 8 U.S. metropolitan areas in December 2021. The transactions were a mix of acquisitions and speculative developments totaling over 3.7 million square feet.
In terms of acquisitions, Dalfen acquired four properties in December, totaling over 1.9 million square feet. They are located in the Dallas/Fort Worth, Charleston, Baltimore, and East Bay's Central Valley. All of these properties were chosen due to their last mile location, good labor pools, high tenant demand, and population growth. Some notable transportation hubs in close proximity to the acquired properties include both Union Pacific and BNSF Railroads, the Dallas/Fort Worth International Airport, Dallas Love Field Airport, and the Ports of Charleston, Baltimore, and Stockton.
"The purchases epitomize our strategy of acquiring and developing high quality urban infill fulfillment centers that cater to both the metro markets as well as the millions of others in the surrounding areas," said Sean Dalfen, President and CIO.
On the development front, in December, Dalfen also acquired over 186 acres of land for development in the Charleston, Miami, and West Palm Beach markets. They will be building three buildings totaling over 1.8 million square feet of industrial space with all of the amenities modern e-commerce tenants demand. In addition to major interstates, highways and railroads, notable transportation hubs near these developments include the Charleston International Airport, the Port of Charleston, Miami International Airport, Fort Lauderdale/Hollywood International Airport, PortMiami, and the Port of Palm Beach.
"In many markets, the cost to build a new, top-of-the-line industrial facility can be less than the cost that existing older, less functional assets are trading for," said Dalfen. "With tenant demand that continually outpaces supply, our experience shows that developments in these markets will be highly sought after, frequently receiving RFPs from tenants before the building is even finished."
Over the past 12 months, Dalfen closed $2.4B in acquisitions and developments.
Dalfen Industrial is one of the nation's largest buyers of industrial real estate and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen currently owns and operates millions of square feet of premier industrial properties throughout the United States.
View original content to download multimedia:https://www.prnewswire.com/news-releases/dalfen-industrial-commits-430m-of-industrial-properties-in-december-301466837.html
SOURCE Dalfen Industrial