EXECUTIVE SUMMARY

On behalf of Ownership, Jones Lang LaSalle America, Inc. (“JLL”) has been retained as the exclusive sales representative for LX Pantos at Green Point Park (the “Property”) – a 573,578 SF brand new Class A facility. The Property was recently completed in January 2024 and is 100% leased to LX Pantos America, Inc., a wholly owned subsidiary of LX Pantos Co., Ltd. (2022 Rev: $8B), with 6.8 years of term remaining. The Property features 36′ clear height, 60-mil TPO roof with a 20-year warranty, 185′ & 285′ fully concrete truck courts, 91 dock high doors, and 4 drive-ins. The bulk warehouse is situated in a newly constructed state-of- the-art logistics park totaling 1.8 MSF and 100% leased that is well positioned to attract high-quality and affordable labor.

The Property is located within a 5-minute drive from I-75. Situated in Dalton, GA, a top production submarket in the Southeast, the Property is centrally located in the burgeoning I-75 North Corridor between Atlanta and Chattanooga. This offering represents an opportunity to acquire a fully stabilized, Class A industrial asset with heavy tenant investment located in an extremely tight industrial market which has seen unprecedented tenant demand and high fundamental growth.

OFFERS DUE: MARCH 14, 2024

PROPERTY SPECS

INVESTMENT HIGHLIGHTS

Institutional Class A Design  

• State-of-the-art Class A modern logistics facility recently completed in January 2024
• 36' clear height 
• Reinforced concrete tilt-wall construction 
• Rear-load configuration with 54′ x 50′ column spacing and 65′ speed bays
  • 185' and 285' fully concrete truck courts
  • 91 dock high doors and 4 drive-ins
  • 165 trailer spaces
• ESFR fire sprinklers and LED lighting
• 60-mil TPO roof with 20-year warranty

Quality Tenancy   

• LX Pantos America, Inc. is primarily engaged in freight and transportation arrangement services
• In 2022, the company and it’s subsidiaries recorded $598M in total revenue from contracts with customers
• In this facility, the tenant will service the 1 MSF LG factory in Clarkesville, TN
  primarily handling washing machines
• The tenant, LX Pantos USA, Inc., recently merged with its guarantor, LX Pantos America, Inc, making LX Pantos America, Inc. the tenant in place
• LX Pantos America, Inc. is a wholly owned subsidiary of LX Pantos Co., Ltd
  • Korea’s #1 logistics company that offers comprehensive logistics services worldwide with a revenue of $8B in 2022
    • Robust 360 networks worldwide, including 250 warehouses in 40 countries, that service 13,000 customers
    • Ranked #1 in Korea and #6 in the world for freight volume with 1.65 million TEUs per year
    • 15 consecutive years as the largest air freight exporter in Korea (2008-2022)

Atlanta Industrial Market    

• For the 9th consecutive year, average NNN rental rates reached an all-time high
  at $6.59
  
  • 11.9% year-over-year increase
• Construction starts are down nearly 50% from the past 5-year average
  •  Atlanta currently only has 300 KSF of proposed supply
• Currently, there are approximately 45 MSF of active tenant requirements
  • 17.3% increase in demand from 2022 to 2023
• 74.7 MSF of absorption over the past 3 years

Exceptional Submarket Dynamics - Atlanta I-75 North Corridor 

• The Atlanta I-75 North Corridor has an inventory of 163 MSF, representing one
  of the fastest growing submarkets in the SE with unprecedented tenant demand
• The five-year average corridor vacancy rate of 4.8% (2019-2023) is well below
  the Metro Atlanta five-year average rate of 5.3%
• Rents continue to reach record highs for the 7th consecutive year with a 14.4%
  YOY rental rate growth
• Heavily embedded tenant base from the robust volume of production and assembly operations and many high-finish R&D requirements drive rent growth for investors
• High barriers to entry - rocky soil and difficult topography limit industrial development
• I-75 North Corridor possesses the heaviest truck count in the state
• Second largest amount of industrial labor jobs in Atlanta
  • Largest amount of resident workers
  • Most affordable supply of labor
• With a large production base, the reshoring of production operations to the US along with other foreign direct investments will drive outsized industrial performance in the I-75 North Corridor

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