REI Industrial Portfolio

Location:

Lebanon, TN; Goodyear, AZ; Sumner, WA; Bedford, PA

Acquisition Date:

February 2025

Size:

1,843,429 SF

Asset Type:

Industrial

Opportunity:

In February 2025, Madison Capital acquired all four of REI Co-op’s Class A distribution centers. At closing, REI signed absolute NNN leases for 100% of the 1.8 million square foot portfolio. Located in the Nashville, Phoenix, Seattle and Central Pennsylvania metros, the distribution centers serve over 190 stores across the US and fulfill online sales. Built between 1992 and 2023, the properties were developed to Class A owner-user standards with 33’ to 40’ clear heights, significant loading and parking, full HVAC and 100% renewable electricity with LEED certifications (three of the four buildings are LEED certified). The Arizona facility was the first distribution center in the U.S. to achieve LEED Platinum certification. The Tennessee facility is certified LEED v4 Platinum and is the largest LEED Platinum industrial building in the Southeast.