Plymouth Industrial REIT Acquires 2.63M SF Portfolio for $95.6M

Venture One

Venture One

Subsidiaries of the operating partnership of Boston-based Plymouth Industrial REIT, Inc. have completed the acquisition of 13 industrial properties located in Illinois, Ohio and Tennessee.

The properties consist of an aggregate of approximately 2.63 million rentable square feet and were acquired for an aggregate purchase price of approximately $95.6 million.

Acquisition of Venture One Portfolio

This portfolio consists of six industrial properties in the Chicago metropolitan area.  The six warehouses total 486,200 rentable square feet and are 100% leased under triple net and modified gross leases.

UPDATE: Plymouth Industrial REIT paid $28.5 million for the six fully leased warehouses, which are in Elgin, St. Charles, Libertyville, Orland Park and Elk Grove Village, according to chicagorealestatedaily.com.

Acquisition of Garrity Malkin Portfolio

This portfolio consists of four industrial properties located in Columbus, Ohio and Memphis, Tennessee.  The properties consist of six industrial buildings with approximately 633,700 rentable square feet and are approximately 97% leased under triple net leases.

Acquisition of Pier-One Property

This industrial property is located in Columbus, Ohio, has approximately 527,100 rentable square feet and is 100% leased under triple net leases.

Acquisition of Creekside Property

This industrial property is located in Columbus, Ohio, has approximately 340,000 rentable square feet and is 100% leased under triple net leases.

Acquisition of Perseus Property

This industrial property is located in Jackson, Tennessee, has approximately 638,400 rentable square feet and is 100% leased under triple net leases.

Plymouth Industrial REIT is focused on the acquisition and management of single and multi-tenant Class B industrial properties, primarily located in secondary and select primary markets across the Eastern half of the U.S. and Texas. The Company conducts business through an UPREIT structure in which its properties are owned by Plymouth Industrial OP, LP, a Delaware limited partnership, directly or through wholly-owned subsidiaries of the operating partnership.