20 years old or less.
Older properties with material renovations are acceptable. Regardless of age, all properties should be in average to good condition.
Construction:
Warehouses distribution centers and light industrial buildings constructed of steel frame with tilt-up masonry wall construction. Typically the minimum
acceptable building size is 50,000 square feet with 18 foot clear ceiling heights. Full sprinkler coverage and an adequate number of dock
level loading doors.
Leasing:
Triple net or providing for protection against increases in operating expenses for a minimum term of three years.
Tenancy:
Multiple tenant buildings preferred with single tenant accepted subject to specific underwriting considerations.
Parking:
One space per 250 square feet of office and one space per 1,000 square feet of warehouse space. Heavy traffic and loading areas should be constructed of concrete and provide adequate maneuvering space.
Location:
Within established industrial parks developed with access to main arterial routes.
Market:
Should be stable or exhibit positive economic and
demographic indicators.
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