EXECUTIVE SUMMARY
Cushman & Wakefield’s National Industrial Advisory Group has been retained by ownership as its exclusive advisor in the sale of the Central U.S. Multi-Tenant Portfolio (the “Portfolio”), a four-building portfolio consisting of 539,371 square feet of highly functional space 100% leased to committed tenants.
The properties are situated in the top performing submarkets within their respective markets – Central DuPage (Chicago), Northwest (Cincinnati) and DeSoto (Memphis). These locations continue to be thriving centers for distribution and logistics due to their central location, depth of labor, highway access and proximity to major shipping hubs.
The Portfolio is 100% leased to 14 tenants, the majority of which have displayed their commitment to the sites through numerous renewals and expansions, resulting in a weighted average tenure of just over 13 years. With 37% of the Portfolio (by SF) rolling in the next three years with a 35% mark-to-market opportunity, investors have the ability to capture higher yields through the mark-to-market of near-term expirations.
The offering represents the opportunity to acquire four well-located and highly functional assets in three dynamic industrial markets with continued strong market fundamentals.
INVESTMENT HIGHLIGHTS
- Institutionally Owned and Developed Class A Assets
- Durable Cash Flow with Upside
- Significant Discount to Replacement Cost
- Located in Preeminent Submarkets
OFFERING AT A GLANCE
Size: | 539,371 SF |
Building(s): | 4 |
Tenant(s): | 14 |
Leased: | 100% |
WALT: |
3.7 Years |
Average Clear Height: | 27' |
Average Year Built: | 2004 |
CONTACTS
MIDWEST JIM CARPENTER Vice Chair |
ADAM TYLER Vice Chair +1 312 470 1840 |
MIKE TENTERIS Vice Chair |
MEGAN BARKER |
SOUTHEAST STEWART CALHOUN Vice Chair +1 404 853 5356 |
CASEY MASTERS Executive Director |
RYAN BELLOWS Director +1 901 482 6767 |
CHICAGO BRITT CASEY Executive Vice Chair |
JEFF MATELLA Director |
MEMPHIS KEMP CONRAD Principal |
OWEN MERCER Vice President |
CINCINNATI JEFF BENDER Executive Vice Chair |
SEATTLE STEIN Director |
JEFF ALTENAU Vice Chair +1 312 470 2355 jeff.altenau@cushwake.com |
ZACH YARNOFF Managing Director |
CUSHMAN & WAKEFIELD NATIONAL INDUSTRIAL ADVISORY GROUP
CENTRAL
Jim Carpenter
Mike Tenteris
Adam Tyler
Megan Barker
MOUNTAIN WEST
Will Strong
Michael Matchett
Molly Hunt
WEST
Jeff Chiate
Rick Ellison
Bryce Aberg
Matthew Leupold
Ashley Tassano
FLORIDA
Mike Davis
Rick Brugge
Rick Colon
Dominic Montazemi
SOUTHWEST
Jim Carpenter
Jud Clements
Robby Rieke
Trevor Berry
NORTHEAST
Gary Gabriel
Gerry Blinebury
Kyle Schmidt
Jon Carpenter
Graham Savage
SOUTHEAST
Stewart Calhoun
Casey Masters
Ryan Bellows
Drew Stanford