Sale Leaseback Opportunity - Mission Critical Flooring Manufacturing Facility - New Hampshire

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the sale and leaseback of 41 Safford Drive (the “Property” or “Asset”) on behalf of Carlisle Wide Plank Floors (the “Offering”), a portfolio company of Switchback Capital ("Switchback").

The Property is 65,150 SF of hardwood flooring manufacturing space that represents 100% of the tenant's production footprint. Carlisle Wide Plank Floors, Inc. ("Carlisle" or "Tenant") is a widely-recognized leader in the design, manufacture and direct sale of luxury, hardwood wide plank flooring with nearly 60 years of history serving residential consumers, designers, architects and builders.

Carlisle's online-first business model combines an internet-driven customer acquisition strategy with a nationwide network of showrooms. Their efficient, handcrafted manufacturing infrastructure supports a unique ability to offer varied product configurations, reinforcing the brand's premium positioning while driving attractive margins.

The Property lies in the Greater Manchester industrial market, which contains approximately 43.7 million SF of inventory with a 7.0% vacancy rate as of Q2 2025. Market rents average $11.20/SF with 1.9% year-over-year growth, while the 10-year average annual rent growth is 5.1%, demonstrating stable demand despite current vacancy being above historical averages.

At close of this transaction, the Tenant will commit to a 15-year lease with fixed annual 2.5-3.0% base rent increases. The Offering provides investors the exceptional opportunity to acquire a mission-critical manufacturing asset supported by a proven tenant with $38.4 million in projected 2025 revenue, attractive annual rent escalations, multiple extension options, and the ability to fund future expansion capacity to support Carlisle's continued growth.