Cabot VF 6 Portfolio - Mountain West

6615 West Boston Street, Chandler, AZ, 85226, US

Description

On behalf of ownership, Jones Lang LaSalle Americas is exclusively marketing for sale the Mountain West Growth Portfolio (the “Portfolio”), an 11-building, 1.1 million square foot logistics and distribution portfolio located across four (4) critical Western US markets: Denver, CO, Phoenix, AZ, San Diego, CA, and Seattle, WA. The Portfolio is currently 86% leased with 2.0 years of WALT, offering immediate value creation via the lease up of the remaining 148,784 square feet of move-in ready space. Furthermore, the Portfolio offers a robust mark-to-market opportunity with existing in-place rents 25.3% below market. The Portfolio consists of an advantageous asset mix of institutional-grade tilt-wall product featuring efficient single- and multi-tenant configurations to support future leasing optionality.

The offering’s distribution throughout major Western US metro areas positions the Mountain West Growth Portfolio to mitigate consolidation risk and promote long-term leasing success in the fundamentally-robust markets of Denver, Phoenix, San Diego and Seattle. Exceptional logistics locations and access to national and international transportation corridors in each of the respective markets preserves the future operational niche of the Portfolio assets.

Overall, Mountain West Growth Portfolio offers investors the opportunity to acquire an institutional-grade logistics and distribution portfolio providing a sought-after near-term value creation strategy in an advantageous collection of Western US logistics hubs.

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Attributes

Building area net

99,437 sm

Occupancy

86.1%

WAULT

2 years

Media

Investment highlights

OPPORTUNITY TO PLANT A FLAG IN FUNDAMENTALLY-ROBUST WESTERN US LOGISTICS MARKETS

Ability to immediately scale in multiple key national logistics markets with diversified footprint in four (4) major US metro areas
Balanced portfolio composition with no single market comprising more than 50% of Year 1 NOI or Portfolio rentable area

IMMEDIATE VALUE-ADD OPPPORTUNITY

Day 1 value creation strategy via the lease-up of the remaining 148,784 square feet of move-in ready space
Existing vacant suites feature advantageous design characteristics including multi-tenant divisibility and appropriate office finish

FUTURE MARK-TO-MARKET POTENTIAL

Attractive future NOI expansion strategy with in-place rents more than 25% below market and all Fair Market Value (FMV) renewal options
Beneficial rollover profile offers access to 100% of the existing rent roll within the first five (5) years of the hold period

HIGHLY FUNCTIONAL LOGISTICS PORTFOLIO WITH SINGLE- AND MULTI-TENANT DESIGN

The Portfolio comprises eleven (11) tilt-wall logistics and distribution assets with a 2006 average vintage and 9.1% average office finish
A total of 18 building suites ranging from 12,013 – 281,181 square feet (average of 59,463 square feet) presents strong diversity in user functionality and offers leasing optionality.