MINNEAPOLIS, October 24, 2017 – Westmount Realty Capital, a Dallas-based commercial real estate company, recently acquired a five-building, 845,622-square-foot industrial portfolio in Minneapolis. The acquisition is Westmount’s first in the Twin Cities.
“We are in a period of strategic growth and this property presented Westmount with the opportunity to acquire a multi-tenant, industrial infill property with significant potential,” said Clifford Booth, president and CEO of Westmount. “Westmount is currently looking to acquire stabilized and value-add industrial assets within the primary and secondary markets within the U.S.”
Located in the southwest suburban industrial market of Minneapolis, the five-building, 845,622-square-foot portfolio is close to the Minneapolis-St. Paul International Airport. The portfolio is fully occupied, which is reflective of the current vacancy rates for industrial properties in the region.
Minneapolis has a thriving business community and is home to some of the largest and most well-known companies in the world including UnitedHealth Group, Target and Best Buy. The area is also considered an important trucking hub in the Midwest, second only to Chicago. North and South Dakota, Iowa and western Wisconsin are all in the logistics range of the Minneapolis-St. Paul area.
With this acquisition, Westmount now has more than 8 million square feet of industrial space in the Midwest region of the U.S. The company currently has a 5 million-square-foot industrial portfolio in the greater Chicago area. Westmount acquired a 10-building industrial portfolio totaling 1.63 million square feet of space in the Milwaukee area in early 2015. The company’s Columbus, Ohio-area portfolio is roughly 1.39 million square feet of industrial space.
Colliers International was the listing broker on this acquisition.
About Westmount Realty Capital
Westmount Realty Capital, LLC is a time-tested, privately held, Dallas-based commercial real estate company that has achieved exceptional performance, with a core team in place, for more than 30 years. Westmount is seen as an innovator and leading edge company in the industry and is a trusted operating partner of numerous U.S. and foreign institutional and private capital sources. The company is active nationally, specializing in value add and opportunistic investments, and has navigated successfully through multiple market cycles. For additional information, contact www.westmountrc.com.
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