Dalfen Industrial, RGA Form Joint Venture for 253,055 SF Industrial Portfolio in Arizona, Georgia

by Amy Works

GILBERT, ARIZ., AND ALPHARETTA AND NORCROSS, GA. — Cushman & Wakefield has advised Dalfen Industrial in the disposition and recapitalization of a multi-tenant industrial portfolio, totaling 253,055 square feet across two projects in Atlanta and Phoenix metro markets.

The dual-project portfolio was owned in Dalfen Industrial’s Value-Add Fund IV and was recapitalized in a joint venture between Dalfen Industrial and RGA ReCap Inc. on behalf of Reinsurance Group of America Inc. Terms of the transaction were not released.

Located in Gilbert, Gilbert Distribution Center is a freestanding Class A industrial building at 1495 E. Baseline Road. Two tenants fully occupy the property, which features multiple points of ingress/egress, multiple storefronts, loading, functional column spacing and concrete truck aprons on a 140-foot truck court.

The North Atlanta Infill Portfolio is a collection of four multi-tenant, rear-load, light industrial buildings located at 6205 and 6215 Shiloh Crossing in Alpharetta and 2915 Courtyards Drive and 3055 Northwoods Circle in Norcross. The properties are a combined 86 percent leased to eight tenants, three of which recently extended their lease terms. The buildings offer 18- to 22-foot clear heights, rear loading, a mix of drive-in and dock-high doors, and multiple glass store fronts.

Will Strong, Michael Matchett, Molly Hunt, Dean Wiley, Stewart Calhoun, Casey Masters, Ryan Bellows and Drew Stanford of Cushman & Wakefield represented the seller in the deal.

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