Fallbrook Flats

New Construction Opportunity

• New leases signed over the past two months (March 1st through May 1st) are achieving an average rent of $1,738, or $60 (4%) increase compared to the overall average in-place rent of $1,678, underscoring the desirability of this location and continued demand for luxury multi-housing product.
• Annual rent growth in the York County submarket is expected to remain above 3.0% through 2027, allowing for consistent, organic rent growth throughout an investor’s hold period.

Impressive Lease-Up Performance

• In its first month of pre-leasing, 19 leases were signed. Building 1 reached stabilization in October 2023.
• Buildings 2 and 3 have demonstrated similar success. Building 2 began its lease-up in October 2023 and secured a total of 24 leases from October to February, outperforming market averages during the winter leasing season.

Dynamic Suburban Location Proximate To Demand Drivers

• 46.5 million square feet of industrial inventory delivered since 2021
• 4th best industrial submarket in the country with 10.1% year-over-year rent growth since 2017
• Located directly off East Market Street and just 15 minutes from downtown York, Fallbrook Flats is surrounded by the county’s best retail, lifestyle, education, and employment offerings.
• York Town Center and the York Galleria Mall, two of the city’s premier shopping destinations, sit less than 2 miles from the Property and are anchored by national retailers including DICK’S Sporting Goods, Best Buy, ULTA Beauty, and Marshalls.
• York is home to a collection of both national and global employers including the WellSpan Health network, BAE Systems, Harley-Davidson motor company, and Glatfelter among many others.