Prairie Hill Holdings has completed the acquisition of an industrial real estate portfolio in Terre Haute, Indiana totaling 385,830 square feet across three properties, for $10.075 million. It is leased to Distributors Terminal Corporation, a third-party logistics (3PL) company that has been in business for over 100 years.
The 3PL industry is projected to grow at 8% per year through 2030, and Terre Haute is benefiting from large investments being made by companies in the energy transition sector. Entek recently announced a $1.5 billion investment to expand their lithium battery production and there are other announcements to come.
Industrial investments are a major focus for Prairie Hill, and the company said it expects to continue making purchases nationally in industrial properties, both in investment grade tenancy as well as middle market.
