March 31, 2022 -- Triten Real Estate Partners has expanded their nationwide Industrial Service Facility (ISF) portfolio with a recent off-market acquisition of a 15-acre LTL terminal portfolio across two markets in Missouri. The portfolio consists of over 9-acres in Kansas City located in the Northeast Industrial District directly north of the Union Pacific intermodal, and over 5-acres in St. Louis located in North Riverfront 3 miles north of Interstate 70 in the area’s core ISF trucking corridor. The portfolio is 100% leased and consists of a diverse mix of local, regional, and national tenants, focusing on trucking and logistics.
Henry Weiler with FWI Industrial assisted Triten with the transaction.
Kansas City delivered more than 8 million square feet of new industrial warehouse space in 2021 while St. Louis has just over 3 million square feet of the expected 7 million square feet of product under construction and ready to deliver Q2 2022. The exponential growth in demand for trucking, logistics, and intermodal users is not slowing, and these Missouri markets continue to be some of the fastest-growing industrial markets in the U.S. Triten continues to work diligently on growing their portfolio as this demand increases and currently owns a portfolio of approximately 320-acres of ISF product nationally. Triten is actively acquiring new opportunities in core markets including the Mid-Atlantic region, Atlanta, Savannah, Dallas, and the Inland Empire.
Last year, Triten secured a $150 million investment from an institutional investor with plans to buy $400 million of ISF properties over the next three years. In the last year, Triten has acquired over 300 acres of ISF properties consisting of freight facilities, outdoor storage, LTL terminals, and truck parking locations.