EXECUTIVE SUMMARY

Cushman & Wakefield’s National Industrial Advisory Group has been retained by ownership as its exclusive advisor in the sale of the Ohio Light Industrial Portfolio (the “Portfolio”), a collection of twenty-one (21) highly functional assets totaling 1,950,856 square feet across the three most populous cities – Columbus, Cincinnati, and Cleveland – in the state of Ohio.

Strategically concentrated within the leading submarkets (all sub-4% vacancy rates) in each MSA, the Portfolio presents an opportunity to acquire a diverse and complementary mix of institutional-quality, infill light industrial properties featuring an average suite and building size of less than 26,000 and 93,000 square feet, respectively. Due to these prime infill locations with excellent interstate access, proximity to expansive labor pools and access to surrounding amenities, the Portfolio has experienced sustained robust demand for its spaces with an impressive historical average occupancy of 96% since 2016 despite still capturing significant rent growth on new and renewal leasing (i.e. 50% growth on over 200,000 square feet of leasing in 2024).

Currently, the Portfolio is 99% leased to 75 regional, national, international, and investment-grade tenants, with a weighted average term of 2.6 years remaining and a weighted 22% mark-to-market opportunity. Given the Portfolio’s attractive lease rollover profile (i.e. 45% of the tenancy expires in the first two fiscal years), the Portfolio provides the opportunity to substantially increase NOI (34% and 52% by Year 2 and Year 3, respectively) through a near-term 39% mark-to-market opportunity.

The offering represents the opportunity to acquire almost 2 million square feet of institutional-quality assets at a significant discount to replacement cost. The Portfolio’s historical and current occupancy provides investors a highly secure cash flow with immediate NOI upside through the significant mark-to-market opportunity in the first two fiscal years.

INVESTMENT HIGHLIGHTS

• Strategic Infill Sites with Ideal Access
• Highly Attractive Secure Cash Flow with Immediate NOI Upside
• Ideal Tenancy
• Discount to Replacement Cost
• Best-in-Class Operating Performance
• Strong Market Fundamentals

OFFERING AT A GLANCE

CONTACTS

CENTRAL

Jim Carpenter

Mike Tenteris

Adam Tyler

Megan Barker

MOUNTAIN WEST

Will Strong

Michael Matchett

Molly Hunt

Jack Stamets

Madeline Warren

WEST

Jeff Chiate

Rick Ellison

Bryce Aberg

Matthew Leupold

Aubrie Monohan

FLORIDA

Mike Davis

Rick Brugge

Rick Colon

Dominic Montazemi