“Core,” institutional assets acquired at less than replacement costs, and well below institutional sales comparables in the market. The $2.77/SF average of net rents was below market, providing upside potential in income growth as leases rollover, and upon sale.
State-of-the-art facilities with dock-high and drive-in doors and modern cross-dock design for operational efficiency. The 36′ clear height ceilings provide tenants additional vertical racking space to accommodate high inventory and high-volume logistics needs.
Size: 1,133,566 SF on 51.52 Acres
Built: 2005 & 2006
Purchased: June, 2008
Realized: August, 2013
Ownership: Westminster Plainfield LLC, owned 100% Fund VII