Dalfen America Corp.

Dalfen America Corp.

May 31, 2016 07:00 ET

Dalfen America Expands Ohio Industrial Portfolio with Abercrombie & Fitch Building Acquisition

COLUMBUS, OHIO--(Marketwired - May 31, 2016) -

Editor's Note: There is a photo associated with this press release.

Dalfen America Corp. (DAC) has expanded its industrial portfolio in Ohio through its recent purchase of the Donn Eisele Building located at 6600 Donn Eisele Road in Columbus, Ohio. Acquisition of the 162,400-square-foot industrial facility, which was purchased from the retail giant Abercrombie & Fitch, takes place just a month after the company acquired a portfolio of 23 light industrial buildings located in Ohio's three major metropolitan areas.

"The Donn Eisele Building is a strategic acquisition as it allows us to expand our footprint into the sought-after Rickenbacker submarket where buildings of this size and quality are in limited supply," said Sean Dalfen, president and CIO of DAC. "Our ability to close fast is what allowed us to get this deal done. They needed to get this on their books by quarter end, and we were able to accommodate them by closing just seven days after the PSA was signed. This acquisition further increases our presence in one of the Midwest's most dynamic markets."

Built in 2000, the concrete tilt-up facility features 28-foot clear ceiling heights, 20 dock-high loading docks, two grade-level doors and 5,648 square feet of built-out office space. Tenants benefit from the property's location in a Foreign Trade Zone, as well as immediate access to Rickenbacker Inland Port.

The Rickenbacker submarket in Columbus, Ohio is one of the leading ecommerce and logistics hubs in the United States. As one of the world's only cargo-dedicated airports, space with immediate access to the Rickenbacker Inland Port remains in high demand.

DAC's acquisition of the Donn Eisele Building supplements its recent purchase of an Ohio light industrial portfolio totaling 2.1 million square feet and consisting of 23 buildings located in Columbus, Cincinnati and Cleveland. The buildings in this portfolio are 94 percent leased with notable tenants such as The Home Depot, T-Mobil US Inc., Bosch Auto Parts, The Nexio Group Inc. and The Black and Decker Corporation. The portfolio also includes land for future development.

"The logistics and transportation industry in Ohio is one of the largest in the nation, with an economic output of $5.2 billion, and our firm sees the potential for continued growth as demand for premier industrial space increases," Dalfen said. "Columbus, Cincinnati and Cleveland have experienced some of the highest year-over-year rental growth, which is largely being fueled by the shifting demand in ecommerce and the need for businesses to have fulfillment centers in major metropolitan areas for faster delivery to consumers."

Robust activity in the industrial sector has also resulted in a high level of job growth throughout the state. Ohio ranks 5th among states that have created the most jobs in the nation since 2011, and first among Midwest states for job creation. In March 2016, Ohio added 27,324 jobs, for a total of 80,494 positions created this year, according to the Current Population Survey (CPS) by the U.S. Bureau of Labor Statistics. The state has also attracted the attention of major corporations, as Ohio is now home to 23 FORTUNE 500 corporate headquarters.

DAC's strategic investments in Ohio, along with its investments and operations in other markets throughout the United States, are generating nationwide acclaim. In June, the company will be recognized by National Real Estate Investor (NREI) Magazine and the Information Management Network with a 2016 Commercial Real Estate Award during its annual U.S. Opportunity Funds Forum in New York. DAC will be honored in the Investors category as one of the top three real estate operators. The award honors high performance firms that have contributed significantly to the commercial real estate industry over the past 12 months.

About Dalfen America Corp.

Dalfen America Corp. (DAC) is a leading industrial estate investment manager and hands-on real estate operator that is focused on acquiring, developing and operating industrial real estate throughout the United States. DAC currently owns and manages millions of square feet of premier commercial properties in the Unites States and in Canada through its Canadian counterpart, Dalfen's Limited. For more information, visit www.dalfen.com.

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