Condor is focused on cold storage properties with the following characteristics.
Industrial warehouse distribution facilities at least 20% improved with cold storage or food related infrastructure.
Existing industrial warehouses with heavy power (at least 2,000 amps per 100k SF).
Post ~1990's construction, logical layouts, Class B or better.
Structured for a variety of deal strategies.
Acquiring in-place leased investments with stable cash flow.
Acquiring assets with existing or scheduled vacancy.
Renovations of second-generation cold storage properties.
Conversion / repositioning of existing facilities.
Sale-leasebacks and other tenant financing structures (see our SLB Program page).
Western U.S. investment focus.
Tier 1 markets include Orange County, Los Angeles, San Diego, Inland Empire, San Jose, San Francisco, East Bay, Seattle, and Denver.
Tier 2 markets include Las Vegas, Portland, Sacramento, Stockton, Phoenix, and Salt Lake City.
Will consider strategic acquisitions in other markets.
Target tenant profile.
Grocery distributors, foodservice distributors, food chain suppliers, third party cold storage distributors, growers, and direct-to-consumer food companies.
Minimum deal size $10M.
Will consider both individual and portfolio acquisitions.
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