target investments
Condor is focused on acquiring 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).
- Ideally 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.
- Build-to-suit development.
- Sale-leasebacks and other tenant financing structures (see our SLB page).
Focused on major population centers.
- We are focused on infill locations within 30 miles of major population centers.
- Our Tier 1 target markets include California, Phoenix, Las Vegas, Portland, Seattle, Denver, and Salt Lake City.
- Will consider strategic acquisitions and developments in other markets.
Target tenant profile.
- Grocery distributors, foodservice distributors, direct-to-consumer companies, e-commerce distributors, third party cold storage warehousers, beverage distributors, growers, and other perishable products distributors (including pharmaceutical, chemicals, etc.).
Minimum deal size $10M.
- Will consider both individual and portfolio acquisitions.
