Biynah Industrial Partners, LLC (Biynah) announces the sale of a two building industrial portfolio located at 10400-10440 Hickman Road in Des Moines, IA (Property). The Property consists of two light industrial buildings totaling 260,000sf. The Portfolio was purchased in 2007 by a joint venture between Biynah and Alex Brown Realty.
“When we purchased the Property in 2007, from an owner-user, the buildings were in need of significant capital improvements and better tenant relations. After an extensive repositioning effort, the Property’s occupancy and rental rates improved. As we completed our repositioning effort and the broader market improved, we were able to capture the current demand for quality industrial assets in the area and decided to sell to a high-quality buyer.” stated Jeff Josephs, Biynah’s Co-Founder and Managing Principal.