DALLAS, May 1, 2024
/PRNewswire/ -- Dalfen Industrial has announced the acquisition of
five industrial outdoor storage ("IOS") sites along the west coast.
The assets were acquired into a venture with
Centerbridge Partners, L.P. ("Centerbridge"). The venture is
rapidly expanding its portfolio within infill industrial markets
with proximity to ports and key logistics infrastructure.
In separate transactions, Dalfen acquired two properties in
Hayward - 847-877 Industrial Parkway and 23422
Clawiter Road. At acquisition, 847-877 Industrial Parkway was ±70%
leased. Dalfen was quickly able to secure a new tenant and bring
occupancy to 100%. 232422 Clawiter was acquired 100% leased with
significant capital upgrades planned. Both sites offer strategic
East Bay locations with convenient access to Hwy 238, Interstates
880 and 580, and proximity to the Port of Oakland.
In Southern California, Dalfen
acquired a fully paved and fenced yard at 12371 Los Nietos in
Santa Fe Springs, CA. The property
has great proximity to the I-605/I-5 Interchange less than 3 miles
away. Select capital improvements are planned prior to offering the
site for lease.
Dalfen also acquired two IOS sites in Washington, 214 21st Street SE in
Auburn and 8328 South Tacoma Way
in Lakewood. The Auburn site was acquired with highly accretive
seller financing and is 100% leased to one tenant A ten year lease
with a large regional landscaping company was signed concurrent
with closing of the Lakewood
site.
"These acquisitions fit the mold of our strategy of targeting
coastal infill markets and demonstrates our ability to craft and
execute a business plan," said Rich
Weiss, Regional SVP at Dalfen Industrial. "As illustrated by
the leasing velocity, these markets continue to see strong demand
in this size range, and we'll continue to target comparable sites
throughout Northern California,
SoCal, Seattle and other select
western metros."
"These acquisitions are consistent with our broader strategy of
constructing a scalable, best-in-class IOS portfolio in the top
markets throughout the United
States," added Mike Cohen,
Head of Acquisitions at Dalfen Industrial.
About Dalfen Industrial
Dalfen Industrial LLC, headquartered in Dallas, is one of the largest privately owned
industrial real estate firms in the
United States and is a leader in the last-mile property
sector. Their investment focus is on strategically located urban
infill warehouses and distribution buildings. Dalfen currently owns
and operates millions of square feet of premier industrial
properties throughout the United
States. For more information, please visit
www.dalfen.com.
About Centerbridge
Centerbridge Partners, L.P. is a private investment management
firm employing a flexible approach across investment disciplines —
Real Estate, Private Equity and Private Credit — in an effort to
develop the most attractive opportunities for our investors. The
Firm was founded in 2005 and as of January
31, 2023 has approximately $36
billion in capital under management with offices in
New York and
London. Centerbridge is dedicated to partnering with
world-class management teams across targeted industry sectors and
geographies. For more information, please visit
www.centerbridge.com.
Media Contact: Liz Morley, emorley@dalfen.com
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SOURCE Dalfen Industrial