CHICAGO, MILWAUKEE—As reported in GlobeSt.com, CenterPoint Properties Trust just sold a 1.7-million-square-foot industrial portfolio with properties in the Milwaukee area and in the Southeast Wisconsin submarket to Westmount Realty Capital LLC from Dallas, one of the largest portfolio sales in the Midwest in recent years.
“In the larger sense the sale is a good example of what is happening in many secondary markets,” Erik Foster, principal and practice leader of Avison Young's Chicago-based industrial capital markets team, tells GlobeSt.com. “Capital is looking beyond core markets and going to smaller ones that are improving with tangible absorption and tangible rent growth.”
Other industrial markets such as Nashville, Memphis and Cincinnati are experiencing similar growth and also generating interest from institutional investors who want to avoid the intense competition, and lower returns, found in core cities. Since 2013, the smaller metro areas have “a better story for investors that want to put their dollars to work and get better returns.”
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
