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EWYORK, NY — In- vestcorp announced that its U.S.-based N 56 industrial properties for approximately $300 million Investcorp announces its largest U.S. warehouse portfolio acquisition house/manufacturing buildings in Phoenix
ISSUE HIGHLIGHTS Volume 30, Issue 15 Sept. 28 - Oct. 11, 2018
expand our presence in this important and growing indus- trial/warehouse sector in the US," said Mohammed Alar- dhi , executive chairman of Investcorp. "This investment further reflects our commit- ment to growing Investcorp's footprint in the US, which is a key driver of the firm's overall growth strategy and an area in which we will look to continue expanding as opportunities arise." This investment provides Investcorp with a 90% leased portfolio of class A and B ware- house, light manufacturing and flex buildings, across the e-commerce, manufacturing, design, wholesaling and food services industries. The port-
folio was purchased as a single investment, with over 60% of the property located in "Tier One" industrial markets. The properties that comprise this portfolio include: • Nine multi-tenant class A and B warehouses in Min- neapolis • 16 multi-tenant class B in- dustrial warehouse/flex build- ings in Dallas • 14 single and multi-tenant class B industrial warehouse/ manufacturing buildings in Chicago • Nine multi-tenant class A and class B industrial ware- house and flex buildings in Philadelphia / Delaware • Five multi-tenant class A and class B industrial ware-
SPOTLIGHTS
• Two multi-tenant class B industrial warehouse buildings in Houston • One multi-tenant class B industrial warehouse building in San Antonio "This investment will help our clients gain and increase exposure to the highly relevant industrial sector in a diversi- fied manner and benefit from some of the secular trends shaping the retailing industry in the US," said Rishi Kapoor, co-chief executive officer of In- vestcorp "The properties in this portfolio are located in supply constrained infill areas offering "last mile" proximity to major population centres."
real estate team recent- ly acquired i t s l arges t U.S. ware - house portfo- lio, totaling 4.5 million s/f and includ- ing 56 indus-
PA/NJ/DE CONFERENCE & DEAL MAKING
Rishi Kapoor
trial properties across seven metropolitan markets, for a total purchase price of $300 million. "We are proud to announce our largest US warehouse portfolio acquisition since the inception of the business, giving us the opportunity to BALTIMORE, MD — Ches- apeake Real Estate Group, LLC (CREG) and EverWest Real Estate Investors, LLC (EW) , on behalf of an EverWest separate account client, have executed a lease with Best Buy for 500,400 s/f of space within Brandon Woods III, a 259-acre site located near Fort Smallwood Rd. in Anne Arundel County. The Baltimore-based real estate company acquired the site from Exelon Corpora- tion last summer and, through a partnership with EW, intend to build up to 1 million s/f of industrial development. Matt Laraway and Scott Skogmo of Chesapeake Real Estate
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Chesapeake Real Estate Group and Everwest Real Estate Investors execute 500,400 s/f lease with Best Buy
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Brandon Woods III
Group represented the landlord and Michael Royce of Avison Young represented Best Buy in this lease transaction. Best Buy plans to consoli- date three existing locations throughout the Baltimore- Washington, DC, metropolitan region to occupy the building at 7550 Perryman St. CREG broke ground on this specula- tive building - featuring 36-foot- clear ceiling heights - last year, and it is currently 90% com- pleted. It is considered the largest industrial speculative project ever constructed in Anne Arundel County and one of the largest built in the state of Maryland. Best Buy expects to take occupancy in March 2019. The facility, which will sup- port 200 jobs, will be used to warehouse and distribute large
products to stores throughout the Mid-Atlantic region. “This lease validates our de- cision to acquire the 259-acre site last summer and immedi- ately proceed with the specula- tive development of more than 500,000 s/f of space. We intend to capitalize on current demand and the strong market funda- mentals by moving forward right away with our second building that will be 340,000 s/f,” said Matt Laraway, SIOR, partner, Chesapeake Real Es- tate Group. “With strategically located, large-scale sites be- coming increasingly difficult to assemble, our team understood the tremendous opportunity to create class A warehouse and distribution product to service emerging e-commerce and lo- gistical requirements. Among
the major strengths of Brandon Woods III is its access to nearly 50 percent of the nation’s popu- lation within a one-day truck drive and its immediate prox- imity to the Port of Baltimore and Baltimore-Washington International Airport.” Constellation Real Estate utilized a portion of this site to dispose of fly ash that was produced at its nearby Brandon Woods power plant. Immedi- ately upon its purchase of the Brandon Woods III site last year, CREG entered the prop- erty into the Voluntary Clean Up Program as outlined in the Land Restoration Program of the Maryland Department of the Environment. CREG has capped the brownfield fly ash portion of the site pursuant to MDE requirements.
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JUST LISTED - FOR SALE The Village at Upstream Farm Investment Offering Ground Lease
Pinewoods Association, LLC is offering for sale approximately 26 acres of land together with a 99 year ground lease with 82 years remaining containing a 55+ community in Forks Township, Northampton County. The Lessee is The Village at Upstream Farm Condominium Association. The development is comprised of 124 one and two-bedroom condominium units with garages. The ground lease began in July of 2001 and terminates on August 31, 2100 at which time the lessee has an option to purchase the property for $1.00.
• Monthly rental income: Pure NNN • Ground Lease with no landlord responsibilities • Annual increases at CPI not to exceed 5% per year • Homeowners association pays all costs of maintenance and capital repairs to the property • Clubhouse is included as part of the fee simple sale • Condominium Association has capital reserves for property upgrades and repairs • Potential for future property management • Condominium Association has never missed a payment
For additional information and a full investment package, please contact: Cindy McDonnell Feinberg at 610-709-6231 Gregg M. Feinberg at 610-709-6233 1390 Ridgeview Dr., Suite 301 This unique investment opportunity is offered at $10,995,000.00
Allentown, PA 18104 www.feinbergrea.com
Real Estate Journal — September 28 - October 11, 2018 — 1A
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Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States specializing in the sale of single tenant net-lease assets and retail shopping centers. We have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. We have a dedicated buy side desk that provides real time inventory and market >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84
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