PROJECTS

PROJECTS

PROJECTS

PROJECTS

PROJECTS PROJECTS PROJECTS PROJECTS 

NJ Portfolio

303–325 Midland Avenue, Garfield
(Bergen County) New Jersey

Property Overview

  • 75,650 SF Infill / Last Mile Industrial Building

  • 100% leased at closing

  • 3.28 Acre Site with irregular configuration

  • ~ 8 Mins to I-80 / Garden State Parkway

Core Asset Management Plan

  • Acquired in August 2021
    for $8.65M or $114 psf

  • 100% of Tenants renewed
    by July 2022

  • Main Building Roof Replacement Summer 2022

  • Site Redevelopment Proposal under city review

  • Recapitalization by Spring/Summer 2024

101 & 107 Industrial Avenue, Little Ferry (Bergen County) New Jersey

Property Overview

  • Two buildings totaling 49,074 SF in prime Meadowlands submarket

  • 3.85 acre site features approximately 1.5 acres of excess parking

  • 100% leased to service industrial / last mile tenancies

  • ~15 Mins to GW Bridge /
    ~20 Mins to Lincoln Tunnel

Core Asset Management Plan

  • Acquired in June 2022
    for $8.2M or $167 psf

  • Engage national broker to lease under-utilized parking area

  • Renew existing tenants at fair market rents

  • Recapitalization by Spring/Summer 2024

256 & 270 Sheffield Street, Mountainside (Union County) New Jersey

Property Overview

  • Two buildings totaling 80,000 SF on an expansive 9.2 acre site

  • 100% leased to two tenants with excess parking capacity

  • Route 22 business park environment, approx. ~15 mins to Newark Airport 

Core Asset Management Plan

  • Acquired in July 2022
    for $17.1M or $214 psf

  • Seek a long-term extension with primary tenant

  • Consider property expansion scenarios

  • Solicit tenants for exterior parking

  • Recapitalization by Fall / Winter 2024

CT Portfolio

2 Great Pasture Road, Danbury
(Fairfield County) Connecticut

Property Overview

  • 115,000 SF multi-tenant high bay warehouse property

  • 100% leased to two tenants at below market rents

  • 15 acre site offers extensive exterior yard possibilities

  • Close proximity to I-84 / Route 7 interchange

Core Asset Management Plan

  • Acquired in February 2022
    for $10.7M or $93 psf

  • Develop revised site plan to expand exterior storage capabilities

  • Renew / expand existing tenants at market rates

  • Recapitalization by Fall 2024

5 Wisconsin, Norwich
(New London County) Connecticut

Property Overview

  • 96,200 SF single-tenant warehouse property

  • Fully leased to S&S Worldwide

  • 5.5 acre site in a prestige business park

  • Immediate access to Route 2 & I-395 

Core Asset Management Plan

  • Acquired in February 2022
    for $7.4M or $77 psf

  • Soliciting interest for solar rooftop and battery storage array

  • Develop an early renewal strategy that optimizes seasonal logistics

  • Recapitalization by Fall 2024

172 Oak Street, Glastonbury
(Hartford County) Connecticut

Property Overview

  • 49,202 SF single-tenant flex industrial property

  • Fully leased to Habco until 2027

  • 5.2 acre site offers extensive exterior yard expansion potential

  • Immediate Access to Route 2 and 5 mins to I-84 / I-91 interchange

Core Asset Management Plan

  • Acquired in March 2022
    for $5M or $101 psf

  • Solicit solar providers to install an array

  • Improve and lease the exterior yard

  • Long-term buy and hold

47 Leggett Street, East Hartford
(Hartford County) Connecticut

Property Overview

  • 71,600 SF single-tenant warehouse property

  • Fully leased to Specialty Packaging until 2032

  • 3.1 acre site in a prestige business park

  • Immediate access to I-291 and I-84

Core Asset Management Plan

  • Acquired in April 2022
    for $7.2M or $100 psf

  • Opportunity to expand the solar plant

  • Long-term buy and hold

169 Callender Road, Watertown
(Litchfield County) Connecticut

Property Overview

  • 81,700 SF flex industrial property

  • Fully air-conditioned with abundant power for manufacturing uses

  • 100% leased to two tenants at below market rents

  • 20 acre site offers exterior yard leasing & solar array possibilities

  • Close proximity to I-84 / Route 8 interchange

Core Asset Management Plan

  • Acquired in December 2022
    for $5.3M or $65 psf

  • Engage local brokers to market exterior parking / storage opportunity

  • Buyout smaller commercial tenant to permit single-tenancy

  • Capex program to include asphalt replacement / drainage + aesthetic upgrades

  • Recapitalization by Fall 2024

555 Nutmeg Road North, South Windsor
(Hartford County) Connecticut

Property Overview

  • 118,700 SF Class B warehouse asset with 25’ clear heights and 13 loading positions

  • Fully leased to Max Finkelstein (MFI), a wholly-owned division of US Autoforce who acquired MFI in January 2022

  • Close proximity to Route 5 / I-291 Interchange that provides excellent accessibility across NE Region via I-84 / I-91 expressways

Core Asset Management Plan

  • Acquired in January 2023
    for $8.9M or $75 psf

  • Stabilize the short-term tenancy

  • Invest to improve asset functionality / building aesthetics

  • Solicit bids for a rooftop solar array

  • Investigate opportunity to expand outdoor storage or building expansion

  • Recapitalization by Fall 2024

567 South Leonard Rd, Waterbury
(New Haven County) Connecticut

Property Overview

  • 3 Industrial Buildings situated on 10.8 acres with 155,700 SF of functional industrial space

  • Fully leased to 3 tenants with opportunity to expand IOS uses across the site

  • Close proximity to Route 8 / I-84 Interchange that provides excellent accessibility across NE Region 

Core Asset Management Plan

  • Acquired in January 2024
    for $9.5M or $61 psf

  • Stabilize the short-term tenancy rollover & convert to NNN leases

  • Invest to improve asset functionality / building & site aesthetics

  • Solicit bids for a rooftop solar array

  • Investigate opportunity to expand outdoor storage

  • Recapitalization by Winter 2026

657 Union Boulevard, Totowa
(Passaic County) New Jersey

Property Overview

  • 52,300 SF Class B flex warehouse asset

  • Expansive 3.5 acre site within jug-handle off-ramp of I-80

  • Opportunity to re-tenant asset with users that utilize a high parking requirement

  • Immediate access to the I-80 expressway and minutes to the Route 46 / Route 3 interchange

  • Excellent visibility from Union Boulevard

Core Asset Management Plan

  • Acquired in March 2024
    for $8.35M or $161 psf

  • Commence leasing campaign seeking full building users

  • Replace roof and enhance building/site aesthetics

  • Solicit bids for rooftop solar

  • Investigate opportunity to add signage / cell towers

  • Recapitalization by Winter 2025

Upcoming
Projects

Fairfield, NJ

76,000 SF multi-tenant warehouse property

Northvale, NJ

75,000 SF warehouse portfolio