1.6M SF of Industrial Hits the Market

DALLAS-Colbalt Industrial Partners has brought to market a 15 building, 1.65-million-square-foot industrial portfolio consisting of properties around the DFW area. Cobalt, which is offering the buildings as a single portfolio through HFF, is hoping to attract bids of about $78 million, or $47 per square foot.

According to a press release from HFF, a bid of $78 million would offer an initial annual yield of approximately 7%. Furthermore, because the majority of the leases in the portfolio were negotiated when the market was down, future lease expirations will provide plenty of upside when it comes to pushing future rents.