Principal Asset Management Acquires 2.1M SF Industrial Portfolio Across Denver Houston New Jersey

This transaction involves the sale of an industrial portfolio consisting of 2,100,000 square feet, primarily located in the markets of Denver, Houston, and Northern New Jersey. The portfolio is 96.7% leased, indicating a strong occupancy rate in key logistics areas.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not specified
• Square Footage: 2,100,000
• Address: Industrial Portfolio
• Market: Denver, Houston & Northern New Jersey
• Buyer: Kamal Bhatia - Principal Asset Management
• Broker: Charlie Strauss, John Huguenard, John Plower, Patrick Nally, Peter Merrion, Rob Key, Trent Agnew & William McCormack - JLL

The deal highlights the collaboration between Principal Asset Management and a state-sponsored pension plan in acquiring the portfolio, orchestrated by the brokerage firm JLL. This transaction reflects a trend of sustained investor demand for Class A industrial assets in prominent logistics markets.