9-28-18

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EWYORK, NY — In- vestcorp announced that its U.S.-based N 56 industrial properties for approximately $300 million Investcorp announces its largest U.S. warehouse portfolio acquisition house/manufacturing buildings in Phoenix

ISSUE HIGHLIGHTS Volume 30, Issue 15 Sept. 28 - Oct. 11, 2018

expand our presence in this important and growing indus- trial/warehouse sector in the US," said Mohammed Alar- dhi , executive chairman of Investcorp. "This investment further reflects our commit- ment to growing Investcorp's footprint in the US, which is a key driver of the firm's overall growth strategy and an area in which we will look to continue expanding as opportunities arise." This investment provides Investcorp with a 90% leased portfolio of class A and B ware- house, light manufacturing and flex buildings, across the e-commerce, manufacturing, design, wholesaling and food services industries. The port-

folio was purchased as a single investment, with over 60% of the property located in "Tier One" industrial markets. The properties that comprise this portfolio include: • Nine multi-tenant class A and B warehouses in Min- neapolis • 16 multi-tenant class B in- dustrial warehouse/flex build- ings in Dallas • 14 single and multi-tenant class B industrial warehouse/ manufacturing buildings in Chicago • Nine multi-tenant class A and class B industrial ware- house and flex buildings in Philadelphia / Delaware • Five multi-tenant class A and class B industrial ware-

SPOTLIGHTS

• Two multi-tenant class B industrial warehouse buildings in Houston • One multi-tenant class B industrial warehouse building in San Antonio "This investment will help our clients gain and increase exposure to the highly relevant industrial sector in a diversi- fied manner and benefit from some of the secular trends shaping the retailing industry in the US," said Rishi Kapoor, co-chief executive officer of In- vestcorp "The properties in this portfolio are located in supply constrained infill areas offering "last mile" proximity to major population centres." 

real estate team recent- ly acquired i t s l arges t U.S. ware - house portfo- lio, totaling 4.5 million s/f and includ- ing 56 indus-

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Rishi Kapoor

trial properties across seven metropolitan markets, for a total purchase price of $300 million. "We are proud to announce our largest US warehouse portfolio acquisition since the inception of the business, giving us the opportunity to BALTIMORE, MD — Ches- apeake Real Estate Group, LLC (CREG) and EverWest Real Estate Investors, LLC (EW) , on behalf of an EverWest separate account client, have executed a lease with Best Buy for 500,400 s/f of space within Brandon Woods III, a 259-acre site located near Fort Smallwood Rd. in Anne Arundel County. The Baltimore-based real estate company acquired the site from Exelon Corpora- tion last summer and, through a partnership with EW, intend to build up to 1 million s/f of industrial development. Matt Laraway and Scott Skogmo of Chesapeake Real Estate

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Chesapeake Real Estate Group and Everwest Real Estate Investors execute 500,400 s/f lease with Best Buy

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Brandon Woods III

Group represented the landlord and Michael Royce of Avison Young represented Best Buy in this lease transaction. Best Buy plans to consoli- date three existing locations throughout the Baltimore- Washington, DC, metropolitan region to occupy the building at 7550 Perryman St. CREG broke ground on this specula- tive building - featuring 36-foot- clear ceiling heights - last year, and it is currently 90% com- pleted. It is considered the largest industrial speculative project ever constructed in Anne Arundel County and one of the largest built in the state of Maryland. Best Buy expects to take occupancy in March 2019. The facility, which will sup- port 200 jobs, will be used to warehouse and distribute large

products to stores throughout the Mid-Atlantic region. “This lease validates our de- cision to acquire the 259-acre site last summer and immedi- ately proceed with the specula- tive development of more than 500,000 s/f of space. We intend to capitalize on current demand and the strong market funda- mentals by moving forward right away with our second building that will be 340,000 s/f,” said Matt Laraway, SIOR, partner, Chesapeake Real Es- tate Group. “With strategically located, large-scale sites be- coming increasingly difficult to assemble, our team understood the tremendous opportunity to create class A warehouse and distribution product to service emerging e-commerce and lo- gistical requirements. Among

the major strengths of Brandon Woods III is its access to nearly 50 percent of the nation’s popu- lation within a one-day truck drive and its immediate prox- imity to the Port of Baltimore and Baltimore-Washington International Airport.” Constellation Real Estate utilized a portion of this site to dispose of fly ash that was produced at its nearby Brandon Woods power plant. Immedi- ately upon its purchase of the Brandon Woods III site last year, CREG entered the prop- erty into the Voluntary Clean Up Program as outlined in the Land Restoration Program of the Maryland Department of the Environment. CREG has capped the brownfield fly ash portion of the site pursuant to MDE requirements. 

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