Industrial real estate executives Matt Dickerson and Chip Barnes have expanded the reach of i3 Investors, the Indianapolis-based private real estate investment firm they cofounded in 2013.
The company’s newest acquisition is a six-building, core-plus industrial portfolio in the Progress Way Business Center in Cincinnati, Ohio.
Additional acquisitions are planned in 2021 and 2022 that will more than double the size of the company’s portfolio and expand its footprint into the southeastern United States.
Based in Indianapolis, i3 Investors is a private real estate investment firm specializing in acquisition, leasing and management of core-plus industrial properties. Its current portfolio, which spans the Midwest, includes 1.5 million square feet of space occupied by more than 80 tenants.
Dickerson and Barnes recently departed JLL after serving more than 10 years as industrial advisors at the global real estate firm to focus full-time on growing i3 Investors.
“Despite many sectors of commercial real estate being negatively impacted during these unparalleled times, our industrial portfolio continues to perform well,” Dickerson said. “The time is right for us to look for opportunities to expand our footprint and further diversify our portfolio.”
Barnes added, “We are committed to growing i3 Investors in a way that provides consistent returns to our investors and unmatched service to our tenants. By expanding into markets such as Charlotte, Tampa and Atlanta, we are able to identify additional opportunities in key industrial markets that will provide geographic diversification in high growth markets for our investors.”
Both Dickerson and Barnes have more than 20 years of experience in industrial real estate. Prior to joining JLL, they were principals at NAI Olympia Partners in Indianapolis. Dickerson is a graduate of Wabash College. Barnes is a graduate of the Kelley School of Business at Indiana University.