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7/31/26
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A joint venture between PCCP and Stonemont has acquired a 38-asset, 5.9 msf industrial portfolio diversified across 14 U.S. logistics markets in 10 states. The portfolio, which was 95% occupied at time of sale, traded in an off-market deal.
The portfolio consists of functional industrial assets located in infill submarkets across core industrial hubs including Central Pennsylvania, Denver, Dallas, Baltimore, Charlotte, Atlanta, and Central Florida, as well as higher-growth markets including Reno, San Diego, Phoenix, El Paso, Austin, and Southern California’s Inland Empire. The portfolio is supported by an operating history and a diversified tenant base of more than 70 national, regional, and investment-grade tenants with an average tenure of nine years.
Thirty-three of the 38 assets are adjacent to at least one other portfolio asset. The venture’s business plan is focused on revenue growth through contractual rent escalations and mark-to-market on lease rollover.
Eastdil Secured acted as an advisor on the transaction.
“The acquisition of this portfolio represents PCCP’s continued conviction in the industrial sector and in markets we have actively invested in within the last five years,” said Ryan Dodge, Partner with PCCP. “We believe our industrial portfolio continues to exhibit strong momentum, with increased leasing demand in recent months. In our view, this portfolio is well positioned to benefit from those same market tailwinds.”
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