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Twin Cities' Historic Low Vacancy Brings Buyers

The overall vacancy rate is less than 7.0%, and Dallas-based Westmont likes what it sees.

By Brian J. Rogal | Updated on October 26, 2017

mn-peavey 4100 Peavey Rd. in Chaska, MN, a southwest suburb, was part of Westmont’s new portfolio.

MINNEAPOLIS—Dallas-based Westmount Realty Capital has just shown once again how much it likes the Midwest. It recently acquired a five-building, 845,622-square-foot industrial portfolio in the Minneapolis metro area. This acquisition was its first in the Twin Cities, but as reported in GlobeSt.com, the company also recently bought a major portfolio in the Milwaukee area, and another in the Chicago region, where it already owned millions of square feet.

“We are in a period of strategic growth and this property presented Westmount with the opportunity to acquire a multi-tenant, industrial infill property with significant potential,” says Clifford Booth, president and chief executive officer of Westmount. “Westmount is currently looking to acquire stabilized and value-add industrial assets within the primary and secondary markets within the US.”

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