Ranger 3PL Portfolio
16 BUILDING, 720,150 SF MULTI-TENANT INDUSTRIAL PARK
Marketing description
16 BUILDING, 720,150 SF MULTI-TENANT INDUSTRIAL PARK
► Investment Grade Tenants
Valeo has been producing automotive lighting systems in Seymour, Indiana since 1978 and has had a significant longstanding occupancy at this industrial park for 17+ years. Valeo currently occupies 10 of the 16 warehouses totaling 489,000 SF.
Packaging Corporation of America (PCA) is the 2nd largest tenant in the multi-tenant portfolio and currently occupies 100,000 SF.
► Apart from Valeo and Packaging Corporation of America (PCA), the remainder of the tenancy at the industrial park is made up of 8 smaller tenants (totaling 103,100 SF) that have also had a longstanding occupancy at the park and continue to operate on either year-to-year or month-to-month leases. United Granulation Services, who occupies 20,000 SF, is a subsidiary of Rose Acre Farms -- the 2nd largest egg producer in the U.S. and has been a longstanding tenant for 16+ years (since 2007).
► In November 2021, Valeo announced plans to invest more than $40 million to purchase new manufacturing equipment to support their business growth.
Investment highlights
NEW OWNERSHIP UPSIDE OPPORTUNITIES
► Currently, Valeo occupies ten (10) buildings totaling 489,000 SF. Throughout 2024, Valeo has leases expiring in five (5) buildings totaling 236,000 SF that are currently 24% below market. Historically, as other Valeo-leased buildings neared expiration,
Ownership was recently successful in increasing their rents towards market and extended their leases out 7 – 10 years in four (4) buildings totaling 221,000 SF. In the previous 10 years, once Valeo has taken possession of a Ranger facility, they have not once vacated that facility.
► New ownership has the immediate opportunity to significantly increase rents in Valeo’s five (5) buildings that have leases rolling over the next 12 months and rents are an average of 24% below market.
STRATEGIC MIDWEST LOCATION
► Valeo is strategically located/positioned within the Midwest market to service all of the largest automotive manufacturers such as Toyota, Honda, Subaru and Ford.
► Recently completed $30M Bypass allows Semi and Delivery Vehicles to exit Interstate 65 with direct access to Freeman Field Industrial Park.
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