JLL has arranged the $50.5 million sale and acquisition financing of the Midwest Distribution Portfolio, a four-property industrial collection totaling 608,316 square feet across the Minneapolis and Milwaukee metropolitan areas. The fully occupied portfolio is described as strategically located within these regional distribution hubs, underscoring ongoing investor interest in Midwestern industrial assets.
JLL represented the seller, Biynah Industrial Partners, in the disposition. At the same time, the firm secured the acquisition financing on behalf of the buyer, providing a combined capital markets and debt advisory solution in a single mandate. The transaction consolidates a mix of distribution and industrial space into a single trade, offering the new owner scale across two major Upper Midwest logistics markets.
The portfolio is composed of four assets in three cities. It includes a 265,516-square-foot distribution center in Lino Lakes, Minnesota, which serves as one of the portfolio’s anchor facilities. In addition, there are two industrial buildings in Pewaukee, Wisconsin, with a combined area of 141,750 square feet. Rounding out the portfolio is a 201,050-square-foot industrial complex in Milwaukee, located adjacent to the city’s international airport, providing direct access to air cargo infrastructure and regional transportation networks. All four buildings are fully leased, highlighting stabilized occupancy at the time of sale.
The JLL Capital Markets team leading the sale effort was headed by Senior Managing Directors Colin Ryan and David Berglund, along with Managing Director Ed Halaburt and Colliers International Partner Tom Shepherd. Their mandate encompassed marketing the portfolio, coordinating the sale process and advising Biynah Industrial Partners on execution strategy. On the debt side, financing for the acquisition was arranged by JLL’s Senior Managing Director Matthew Schoenfeldt and Managing Director Lucas Borges, who structured and secured the loan package for the new owner.
Commenting on broader conditions, Ryan noted that transaction activity in the Midwest has increased as investors respond to supply constraints and resilient fundamentals. He pointed out that both Minneapolis and Milwaukee are maintaining industrial vacancy rates below the national average, reinforcing the appeal of stabilized, well-located distribution product in these markets. The sale and financing of the Midwest Distribution Portfolio align with this trend, reflecting capital flowing toward fully leased industrial assets in supply-constrained metropolitan areas.
