June 16, 2016
New York-based Angelo, Gordon & Co. is selling a two-million-square-foot portfolio of industrial properties spanning seven states. CBRE Capital Market’s National Partners team, including Jack Fraker, Chris Riley, Michael Hines, Michael Caprile and Darla Longo, is handling the exclusive assignment that involves eight mission-critical industrial facilities.
The properties are located in Alabama, California, Georgia, Illinois, New Jersey, Texas and Wisconsin. Currently, the portfolio is 100% triple-net leased to five nationally and regionally recognized tenants with a remaining lease term of more than eleven and a half years.
The portfolio offers strong in-place net operating income and is poised to experience strong growth throughout the buyer’s projected hold period, due to contractual rent bumps and CPI-based rent adjustments.