Plymouth Industrial REIT Acquires Distribution Space In Indiana

July 21, 2017

Plymouth Industrial REIT said Friday it has acquired a six-property portfolio of industrial buildings with a combined 667,000 square feet in South Bend, Indiana for $26.0 million in cash, and an initial yield of 9.2%. It was the REIT’s first acquisition after listing on the stock exchange.

The buildings are leased to Corporate Services, a private logistics-fulfillment service that provides distribution and marketing-advertising support services to clients in the pharmaceutical industry. CSI’s location in South Bend provides its customers immediate access to surface carriers reaching 80% of the U.S. population in two days or less.

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By Stephen Holmes

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