Investment Criteria
Characteristics
Midwest Focused
- Chicago
- St. Louis
- Cincinnati
- Columbus
- Dayton
- Minneapolis
Property Type
- Consider all assets within respective Midwest city MSA
- Infill location
- Less than 3 miles from interchange
- Within established business park
- Submarket that is less than 10% vacancy rate
Property Profile
- 50,000 to 500,000 square feet
- Properties outside preferred range may be considered on case-by-case basis
- Must be freestanding structures (no condos or TIC arrangements) & independent properties
Price Range
- $2 million to $100 million
- Properties outside preferred price range may be considered on case-by-case basis
Strategy
Value-Add and Opportunistic
- B and C grade property preference including under-performing, bulk distribution, light manufacturing, “flex” properties, properties with low to medium occupancy, deferred maintenance, & high expense profiles, etc.
Core Plus
- Class A and B bulk distribution and light manufacturing buildings located close to major transportation hubs
- Preference given to stable properties or portfolios with high occupancy, low short-term rollover and/or excess land for expansion
Sale/Leasback
- Typically prefer Net or Absolute Net lease structures with 1-3 year or 7-10 year term lengths.
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