Garrison Acquires 2-Million SF Portfolio

COLUMBUS—In late June 2013, Garrison Investment Group acquired 10 industrial properties located in the Columbus metropolitan area. And Garrison has just hired Westmount Realty Capital, L.L.C. to manage the new portfolio. The partners say Westmount will likely buy into the equity of the deal in the near future. The two companies already own and operate nine other assets in the Columbus market and with this new deal have the second largest industrial portfolio in the Columbus area.

“As the Columbus market is recovering, the assets were able to be purchased at levels well below replacement cost and on a basis that will allow ownership to be quite competitive on rental rates,” says Cliff Booth, chief executive officer at Dallas-based Westmount Realty Capital. “The reasonable cost of this acquisition should translate into accelerated leasing velocity and added value.”