Four-property industrial portfolio in Minneapolis and Milwaukee markets sells for $50.5M

MINNEAPOLIS, June 2, 2026 – JLL Capital Markets announced today it arranged the $50.5 million sale and secured acquisition financing for the Midwest Distribution Portfolio, a strategically positioned collection of four industrial properties totaling 608,316 square feet across the Minneapolis and Milwaukee metropolitan areas.

JLL represented the seller, Biynah Industrial Partners, in the transaction. Working on behalf of the new owner, JLL also secured the acquisition financing.

The fully occupied portfolio includes a 265,516-square-foot distribution center in Lino Lakes, Minnesota, two buildings totaling 141,750 square feet in Pewaukee, Wisconsin and a 201,050-square-foot complex in Milwaukee adjacent to the international airport.

The portfolio serves nine tenants across essential sectors including merchant wholesalers, apparel, motor freight distribution and air freight services. Properties feature clear heights ranging from 22 to 30 feet with more than 70 loading positions across the four buildings.

The Lino Lakes facility offers immediate Interstate 35W access serving an affluent demographic area with median household income exceeding $125,000, while the Pewaukee properties are positioned near Interstate 94 in Waukesha County's premier business corridor. The Milwaukee asset capitalizes on its location adjacent to an airport handling 6.9 million passengers annually.

The JLL Capital Markets team was led by Senior Managing Directors Colin Ryan and David Berglund, Managing Director Ed Halaburt and Colliers International Partner, Tom Shepherd. Financing was arranged by JLL’s Senior Managing Director Matthew Schoenfeldt and Managing Director Lucas Borges.

"We've seen transaction momentum in the Midwest pick up significantly as investors recognize the region's supply constraints and strong fundamentals, with both Minneapolis and Milwaukee maintaining vacancy rates well below the national average," said Ryan. "This portfolio stood out with its 100 percent occupancy, diverse tenant base with exceptional tenure averaging over 11 years and immediate mark-to-market rental upside that created a clear path to value creation."

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Biynah Industrial Partners, LLC (BIP) is a Minneapolis-based private equity firm founded in 2009 that exclusively focuses on making direct investments in industrial real estate located throughout the United States. For more information visit bipmgmt.com.