Troy Distribution Center

Jones Lang LaSalle (“JLL”), as exclusive advisor to ownership, has been retained to market for sale the fee-simple interest in the Troy Distribution Center, a fully occupied, 211,925 square foot industrial facility located in the affluent suburb of Troy, OH (the “Offering”, the “Property”, or the “Asset”). Built in 1996 and situated less than a half-mile from Interstate 75 and less than 15 miles from the Dayton International Airport, the Property represents the opportunity to acquire a well located an highly functional distribution center strategically located in the Upper Valley submarket of Dayton.

This town-tenant facility is 100% leased with just over half of the Property occupied by an investment grade tenant with more than a decade of tenure (Hobart is a wholly owned subsidiary of Illinois Tool Works (NYSE: ITW, Moody’s: A1, S&P: A+)). The Troy Distribution Center is a well-positioned, cross-dock asset being offered to investors at a basis below replacement cost in a historically low-vacancy market with strong rent growth. The Asset has in-place WALT of 2.5 years or 7.1 years with all options exercised; 47% of GLA is assumed to roll to a market rate renewal option in year 2 of the analysis, creating income growth during the hold period while avoiding significant leasing costs.