MVP acquires improved/existing assets and developable industrial land with significant outdoor storage components that are located in close proximity to major logistics hubs.
| Location Criteria | Macro-Level: ➣ Midwestern and Southern US; current priorities = Alabama, Louisiana, Tennessee & Arkansas ➣ Secondary MSAs / markets located within major infill logistics hubs/corridors Property-Level: ➣ Interstate or US highway access with sufficient ingress/egress for large commercial vehicles ➣ Speculative development: preference for sites near major seaports, cargo-intensive airports, and/or intermodal rail terminals |
| Deal Types & Metrics | ➣ Sites zoned for industrial outdoor storage uses by-right ➣ $1-$15 million acquisition price / development basis ➣ Typically, <35% FAR / building coverage ratio and <50,000 building square feet ➣ Main focus areas: (i) cash-flowing properties with <5-year WALT & mark-to-market dynamic, (ii) portfolio aggregation of small/subscale (<$1.5 million) leased assets, (iii) sale-leasebacks, and (iv) ground-up development (primarily build-to-suit but also selectively pursue spec) ➣ Example end-users: heavy equipment rental/sales, building materials distribution (roofing, fencing, masonry, lumber), fleet maintenance, CDL/truck driving school, laydown yard (contractor equipment, containers, trailers, etc.), plumbing/waterworks supply, landscaping supply |
