"It's been the most active month that we've had in terms oftransactions," says Lewis D. Friedland, managing partner ofDallas-based Cobalt Capital Partners LP. "We anticipate the rest ofthe year will be fairly active in this deal size." The REIT's sweetspot is 100,000 sf and an average payout of $8.5 million perdeed.

Friedland says the deals constituted marketed and off-markettransactions with sellers that included Boston-based TA AssociatesInc., Wilton, CT-based CommonFund Realty and Bandera Ventures Ltd.of Dallas in addition to one large public industrial REIT and oneinternational company. GlobeSt.com did come across twosales this month: 1135 W. Trinity Mills Rd., 2425 Carter Dr. and1011 Royal Lane. He tells GlobeSt.com that the buying round alsobagged the 278,300-sf Trane distribution center in St. Louis;199,300-sf GE Northwest Atlanta center in Atlanta; 96,000-sf Aspendistribution center in Minneapolis; and a 78,787-sf building at1550 Evans St. in Denver.

[IMGCAP(2)]"We bought these buildings on very attractive yieldsand cost per sf," Friedland says, adding upside lies in rentincreases down the road as leases roll in the nine buildings.In-place rents range from $3 per sf to $6 per sf for a 30-plustenant roster, which is predicted to average 15% to 20% roll peryear.