Three industrial properties in Greater Cincinnati just traded hands as part of a coast-to-coast logistics sell-off, hauling in more than $52 million for local owners. The deals were folded into a 36-property package totaling roughly 7.3 million square feet that was marketed by EQT Real Estate. Even as national leasing cools, the sales are a fresh reminder that big institutional money is still very much shopping Cincinnati’s industrial market.
National Deal, Coast-To-Coast Footprint
In a press release, EQT said it completed the sale of the 36-property, roughly 7.3 million square foot portfolio to an Ares Real Estate fund, with Marq Logistics set to manage the assets. PR Newswire noted that this was the second tranche of EQT’s Core Plus industrial exits and that the portfolio spans major U.S. distribution hubs from Chicago to Southern California, with exposure in Columbus and Cincinnati.
What Sold In Cincinnati
According to reporting by the Cincinnati Business Courier, three Greater Cincinnati industrial properties were included in the portfolio and sold for a combined total of more than $52 million. The Business Courier placed the Cincinnati trades among several regional clusters that made up the broader EQT disposition.
Why Buyers Are Still Paying Up…