Continuing its Last-Mile Industrial Strategy, Taurus Acquires Minneapolis Shallow Bay Portfolio

Press Release

IndustrialJan 28, 2025

Taurus Investment Holdings, LLC (“Taurus”), a global private equity real estate firm, today announced the acquisition of a Minneapolis shallow-bay industrial portfolio. The portfolio consists of 636,051 square feet and is currently 96% occupied by 71 tenants. With the addition of the Minneapolis Shallow Bay Portfolio, Taurus’ US portfolio encompasses 13.2M square feet of industrial product throughout the United States, including recent acquisitions in the Southwest and Northeast.

“This Minneapolis portfolio represents the latest acquisition that is part of Taurus’ last-mile industrial strategy,” said Peter A. Merrigan, CEO of Taurus. “Given the current market dynamics, particularly the significant supply-demand imbalance, we believe this portfolio presents an exceptional opportunity for value creation. Across the past five years, Taurus has transacted on over 25,000,000 SF of logistics/distribution space in the US market and I am confident that our team will unlock significant potential and deliver strong returns for our investors.”

Managing Director of Taurus’ Industrial Platform, Lathan Allen added: “Shallow bay continues to outperform the broader industrial market, both nationally and in Minneapolis/St. Paul, and has minimal supply side pressure. Of the 2.3M SF of industrial currently under development in Minneapolis, just 250k SF of speculative space remains available for lease, making this portfolio ideal for continued E-commerce growth and supply chain transformation in the region.

Taurus has consistently demonstrated a strategic focus on acquiring last-mile industrial opportunities within established markets, building on decades of experience in this sector. With it’s shallow bay industrial strategy, Taurus prioritizes properties defined as those with 100,000 SF or less that are typically demised to accommodate multiple tenants. With an average building size of ~40,000 SF, the Minneapolis Portfolio has maintained an average occupancy of +98%, further reinforcing the stable demand for shallow bay properties.