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.

The portfolio is 95% leased to 31 tenants, with an average remaining lease term of nearly six years. The tenants are involved in a wide variety of industries including food products, aviation, paper distribution, construction material, corrugated cardboard, apparel and automotive.  Several of the largest tenants have remaining lease terms of six to 11 years.  Submarkets represented in the portfolio include DFW Airport, Northwest Dallas, Northeast Dallas and Inner Southwest Dallas.

Representatives from HFF and Cobalt were not immediately available for comment.