Dallas investors, Goldman Sachs partner on big portfolio deal of last-mile fulfillment centers that includes six Florida warehouses
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Aug 3, 2020

An industrial real estate owner with a significant presence in the Tampa Bay region has partnered with Goldman Sachs to buy a nationwide portfolio of last-mile fulfillment centers that includes six properties in Florida.

Dalfen Industrial, based in Dallas, said it has partnered with Goldman's merchant banking division to purchase the portfolio of 46 last-mile fulfillment centers. The warehouses — which are occupied by or geared toward ecommerce operators and are a product's last stop before being delivered to consumers — total 6.3 million square feet. The portfolio is 94 percent occupied, and the average property size is 126,000 square feet. Major tenants include Amazon, Frito Lay, Brinks, Central Garden & Pet, Pods, and Sherwin Williams.

Bloomberg, citing a person familiar with the deal, pegged the sales price at $500 million. A Dalfen representative did not respond to a request for comment on pricing.

Outside of Florida, the portfolio includes warehouses in Atlanta, Dallas, Chicago, Phoenix, Raleigh, Houston, Baltimore, Minneapolis, Cincinnati, Columbus and Reno, Nevada.

The acquisition is yet another sign of investors' confidence in industrial real estate, which is seeing unprecedented demand for space as the novel coronavirus pandemic has spurred shoppers to shift more of their spending to online platforms. Central Florida and the Tampa Bay region were already seeing an unprecedented boom in the industrial market prior to Covid-19, and the pandemic has caused an even bigger ramp up in demand, commercial real estate brokers say.

Here are the Florida properties included in the portfolio: