TPG Angelo Gordon Acquires Industrial Portfolio From Douglas Dynamics For $64.2 Million

The transaction involves an industrial portfolio consisting of seven facilities located in Huntley, Illinois; Manchester, Iowa; Rockland, Maine; Madison Heights & Michigan; and Milwaukee, Wisconsin. The total square footage of the portfolio is 780,000 sq. ft., and it was sold for $64,200,000, which translates to a price per square foot of $82. The properties are subject to initial lease terms of 15 years, with two renewal options of 10 years each.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $64,200,000
• Total Square Footage: 780,000 sq. ft.
• Buyer: TPG Angelo Gordon
• Seller: Sarah Lauber - Douglas Dynamics, Inc.
• Broker Representatives: Bob Mohr, Elizabeth Loving, Robert Shibuya III & Ruth Baker - Mohr Partners

Mohr Partners facilitated the transaction, representing Douglas Dynamics in the sale-leaseback deal. TPG Angelo Gordon was represented by Jeff Henson in the acquisition of the portfolio, which reflects a strategic investment involving multiple states and facilities.