EQT Exeter to Acquire Strategic Supply Chain Assemblage Comprising Nearly Five Million Square Feet of Institutional Quality Industrial Assets

USA - English

• USA - English

• Transaction consists of 33 high-quality distribution buildings located across 12 major industrial markets throughout the United States, all with adjacencies to EQT Exeter offices
• Properties include a mix of big box distribution and last-mile facilities primed to serve a variety of tenants in the Southeast, Midwest, and Texas
• EQT Exeter plans to implement strategic make-ready improvements to fill the remaining vacancy and collaborate with existing tenants to maintain steady occupancy and cash flow

PHILADELPHIA, Nov. 18, 2024 /PRNewswire/ -- EQT Exeter, a leading global real estate investment manager, is pleased to announce that the EQT Exeter Industrial Value Fund VI ("EQT Exeter") has acquired 33 industrial assets ("the Assemblage") strategically located in prime submarkets across the United States. Twenty-one of the assets are located in markets with an EQT Exeter office.

The Assemblage consists of over 4.5 million square feet of bulk and last-mile industrial facilities with an average building size of over 138,000 square feet. The properties are located across four core regional markets, including the Southeast (Richmond, Atlanta, and Jacksonville); the "E-Commerce Triangle" (Louisville, Cincinnati, and Indianapolis); the Midwest (Chicago, St. Louis, Kansas City, and Minnesota); and El Paso, Texas. 

Strategically located within these prime logistics corridors, the properties provide seamless connectivity to key interstate routes and major population centers, optimizing both last-mile and regional distribution. Designed with best-in-class features, these buildings support a broad spectrum of distribution functions and offer flexible suite sizes. Diverse site plans, optimal clear heights, and abundant dock positions maximize operational efficiency, catering to the diverse needs of today's tenants. The properties feature 34 unique tenants and four vacant suites. Roughly 38% of the existing tenants constitute current relationships within EQT Exeter's portfolio, reflecting the depth of the firm's global tenant-partner relationships.

The Assemblage is approximately 90% leased with staggered lease terms. EQT Exeter intends to enhance value through the make-ready and lease-up of the remaining 428,000 square feet of available space across the assets. Through its "locals-with-locals" approach, EQT Exeter intends to strengthen existing tenant-partner relationships, foster new ones, and ensure the assets continue to meet the evolving needs of the tenants they aim to serve. 

Chris Riley of CBRE arranged the transaction with assistance from Ryan Bain, Frank Fallon, Judd Welliver, José Lobón, Jonathan Beard, and Jonathan Bryan of CBRE National Partners.

EQT Press Office, [email protected]  

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https://news.cision.com/eqt/r/eqt-exeter-to-acquire-strategic-supply-chain-assemblage-comprising-nearly-five-million-square-feet-o,c4067845

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