Northlake and Walthall

On behalf of the Seller, Jones Lang LaSalle Americas, Inc. ("JLL") has been retained as the exclusive sales representative for Northlake and Walthall (the "Portfolio") - consisting of four properties in two high-performing industrial parks totaling 1.16 MSF, located in two of the highest performing submarkets in the Richmond market. The fully occupied assets provide investors the opportunity to acquire immediate scale in the market. The Portfolio features a well-diversified, credit-worthy, and entrenched tenant mix with six industries represented and a 9.18-year weighted average tenure. The Portfolio features 4.41 years of Weighted Average Lease Term (WALT) and in-place rents 23% below-market, offering exceptional in-place cash flow and a near-term mark-to-market opportunity.

Northlake and Walthall outperform their peers of similar vintage in the Richmond market. They feature best-in-class shallow-bay specs, including 32’ clear heights and exceptional loading capabilities with a dock door-to-square-foot ratio that is less than half of what competitive properties offer.

The Portfolio is advantageously located in two of the best performing submarkets in the Richmond market: I-95 N/Hanover and I-95/I-295/Rt-10. Both submarkets benefit from superb access to the I-95 super corridor allowing for regional distribution capabilities. Additionally, both submarkets feature sustained low vacancy (8.9% and 2.3% respectively) and premium market rents compared to the broader MSA.