Caliber Ridge

125 Caliber Ridge Drive, Greer, SC, 29651, US

Description

Jones Lang LaSalle Americas, Inc. ("JLL") has been retained as the exclusive sales representative for Caliber Ridge (the "Portfolio"), a 1.0 million square foot Class A logistics and distribution portfolio positioned at a generational location in the Greenville-Spartanburg, South Carolina MSA. The offering is 100% leased to multiple diverse tenants with 4.0 years of WALT, providing immediate in-place cash flow secured by credit tenancy in Motion Industries (S&P: BBB), Maersk Logistics and Services (S&P: BBB+), and Forward Air, Inc. (NASDAQ: FWRD). Caliber Ridge features a value creation strategy via the mark-to-market of in-place rents +16% below market, complimented by an advantageous rollover schedule that provides access to nearly 90% of the rent roll in the first five (5) years.

Situated at the I-85 / RT-101 interchange at the epicenter of the Greenville-Spartanburg MSA, Caliber Ridge benefits from an irreplicable logistics position directly adjacent to the 8 MSF BMW Group Plant Spartanburg that employs over 11,000 people in Greer, South Carolina. In addition to BMW, other core demand drivers of the metro area include Inland Port Greer and Greenville-Spartanburg International Airport (GSP) which are both located less than five (5) miles from the Portfolio, solidifying Caliber Ridge’s niche at the bullseye of the largest industrial and logistics market in South Carolina.

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Attributes

Building area net

94,399 sm

Occupancy

100%

Building class

WALT

4 years

Tenants

Media

Investment highlights

EMBEDDED VALUE CREATION STRATEGY SECURED BEHIND EXISTING INVESTMENT-GRADE CASH FLOW

• 100% leased to fourteen (14) diverse tenants including investment-grade users such as Motion Industries (S&P: BBB) and Maersk Logistics and Services (S&P: BBB+)

• 4.0 years of WALT with balanced rollover schedule providing access to nearly 90% of the portfolio within the first five (5) years

• Future value creation with in-place rents approximately 16.5% below market and all Fair Market Value (FMV) tenant renewal options

BEST-IN-MARKET LOGISTICS LOCATION ADJACENT TO MAJOR MARKET DRIVERS

• Situated at a generational logistics location at the intersection of I-85 and Route 101, adjacent to the $13.3 billion, 8 MSF BMW Group Plant Spartanburg which employs over 11,000 people

• The Portfolio’s highly infill position provides access to the entirety of the Greenville-Spartanburg MSA and its key demand drivers, located less than five (5) miles from both Inland Port Greer and Greenville-Spartanburg International Airport (GSP)

• Regional connectivity to major population centers is driven by proximity to the I-85 corridor, connecting the Portfolio to nearly two (2) million consumers within a 90-minute drive

RARE DISCOUNT TO REPLACEMENT COST OPPORTUNITY

• Advantageous acquisition basis attributed to irreplaceable one-of-one location that substantially elevates duplication cost premium

• Exceedingly rare opportunity to acquire significant scale of Class A multi-building logistics product at an epicenter-grade location

INSTITUTIONAL-QUALITY CONSTRUCTION

• Concrete tilt-wall construction with attractive glass lines and modern paint schemes

• 180-260'-deep rear-load configurations

• 30' average clear height paired with ESFR sprinklers

• Multiple storefronts offer future demising flexibility to accommodate a wide range of users with varying suite sizes

DIVERSIFIED TENANCY WITH STRONG COMMITMENT

• Fourteen (14) international, national and regional tenants representing a mix of five (5) industrial concentrations including manufacturing, logistics and transportation, and industrial equipment

• Single- and multi-tenant configurations with suites ranging from 24,570 – 171,600 square feet with an average tenant size of 72,579 square feet

• Long-term tenant loyalty to Caliber Ridge with a weighted average tenant tenure of 8.6 years