The logistics properties were 91% occupied at the time of the sale. The portfolio ranged from small bay to large distribution facilities and included single-tenant and multi-tenant buildings.

The national industrial market continues to outperform in response to unprecedented demand, Transwestern notes. While nearly 1 billion square feet of new inventory has been delivered in the past three years, the year-end vacancy rate for this sector was 4.7%, less than half of the post-recession high of 9.5% in 2010, according to Transwestern's research on the national industrial market. Of the 47 markets Transwestern tracks, more than 90% experienced year-over-year rent growth, and all but four markets posted positive net absorption for the year.

Transwestern Investment has been very active thus far in 2019. Earlier this month, Transwestern Investment Group sold a 400,127-square-foot, Class A office building at 300 Kimball Drive in Parsippany, NJ on behalf of a large national insurance company. The sale followed an expansive capital improvement program which transformed the asset from a single-tenant property into a state-of-the-art, multi-tenant facility.

In February, Transwestern Investment Group announced it had acquired a 1.2 million-square-foot industrial property in north Fort Worth, TX. The firm acquired the property from DHL Supply Chain on behalf of one of its separately managed accounts.

Also in February, Transwestern Investment Group sold the Southpark Commerce Center V in Austin, TX to Hillwood. Located within the Southeast industrial submarket of Austin, Southpark Commerce Center V is a recently completed, three-building project totaling 350,171 square feet.