Property Details
Stabilized Occupancy  Stabilized Cashflow  Below Market Rents  NOI Growth 
Asset Profile
Core Plus

The Northeast E-Commerce Industrial Center

New Castle, DE

Industrial Property
The O'Donnell Group Newport Beach, CA
The O'Donnell Group
  • IRR 17.43%
  • Equity Multiple 2.1x
  • Hold Period 3-5Y
  • Minimum Investment $25K
  • Year 1 Cash on Cash 6.47%
  • Stabilized Cash on Cash 6.47% in Y1
  • First Distribution Jun 2020
  • Distribution Frequency Quarterly
  • Co-Investment 5%
  • Preferred Return 10%
  • Investor Profit Share 75%
  • Asset Profile Core Plus
  • Loan-to-Value 70%
  • Current Occupancy 100%

About this Property

Address 263 Quigley Blvd & 34 Blevins Dr
Square Footage 92,901 sq. ft.
Year Built 1987
Year Renovated 2008
Current Occupancy 100%
Market Occupancy 95.7%
Purchase Price $8,400,000
Price/SF $90.42

Why you are buying the Property?

The 34 Blevins Dr & 263 Quigley Blvd, New Castle, DE property ("The Property') is strategically located near Wilmington, DE and between Philadelphia and Baltimore. It is located in an in-fill market with high barriers to entry and it is being purchased 25% below cost ($90 PSF vs $120 PSF). The in place rents are approximately 20% below market. It includes two infill buildings totaling 92,901 square feet of light industrial space. These facilities have superb high-throughput functionality. As a result, the average tenure of the existing 12 tenants is in excess of 10 years. The Airport industrial Park and the facility is 100% leased.

 

What is your investment strategy/business plan for the Property?

This strategy provides current cash flow, annual rental increases, and a great anticipated annual return on equity. The anticipated INVESTOR returns are a 17.43% IRR and an equity multiple of 2.10. The rents are approximately 20% below market on average. The plan is to renew the tenants at the higher market rents or release them to new tenants.

 

Are there any unique aspects to the property, your investment strategy or this Offering that will help create value for investors?

In addition to the excellent in-fill location, the market rents are 20% below market and the property is being purchased 25% below replacement cost; Amazon is building two +/- 800,000 SF distribution facilities. One is within 1/2 mile of the property and the other is approximately 15 minutes away in Dermody.

 

Title to the real property will be held by two LLC’s, as tenants in common. Investments made by RealCrowd investors will correlate to their ownership in TOG Delaware LLC, which is a tenant in common that is managed by the O'Donnell Group. The O’Donnell Industrial Fund VII will be the other tenant in common.

About this Property

Address 263 Quigley Blvd & 34 Blevins Dr
Square Footage 92,901 sq. ft.
Year Built 1987
Year Renovated 2008
Current Occupancy 100%
Market Occupancy 95.7%
Purchase Price $8,400,000
Price/SF $90.42

Why you are buying the Property?

The 34 Blevins Dr & 263 Quigley Blvd, New Castle, DE property ("The Property') is strategically located near Wilmington, DE and between Philadelphia and Baltimore. It is located in an in-fill market with high barriers to entry and it is being purchased 25% below cost ($90 PSF vs $120 PSF). The in place rents are approximately 20% below market. It includes two infill buildings totaling 92,901 square feet of light industrial space. These facilities have superb high-throughput functionality. As a result, the average tenure of the existing 12 tenants is in excess of 10 years. The Airport industrial Park and the facility is 100% leased.

 

What is your investment strategy/business plan for the Property?

This strategy provides current cash flow, annual rental increases, and a great anticipated annual return on equity. The anticipated INVESTOR returns are a 17.43% IRR and an equity multiple of 2.10. The rents are approximately 20% below market on average. The plan is to renew the tenants at the higher market rents or release them to new tenants.

 

Are there any unique aspects to the property, your investment strategy or this Offering that will help create value for investors?

In addition to the excellent in-fill location, the market rents are 20% below market and the property is being purchased 25% below replacement cost; Amazon is building two +/- 800,000 SF distribution facilities. One is within 1/2 mile of the property and the other is approximately 15 minutes away in Dermody.

 

Title to the real property will be held by two LLC’s, as tenants in common. Investments made by RealCrowd investors will correlate to their ownership in TOG Delaware LLC, which is a tenant in common that is managed by the O'Donnell Group. The O’Donnell Industrial Fund VII will be the other tenant in common.

Offered By

The O'Donnell Group

The O'Donnell Group

Newport Beach, CA

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Assets Under
Management

Currently
$166MM less than 10 assets
Exited
$230MM 20+ assets
Portfolio LTV
47%  
Historical
Realized Returns

Total IRR
34%  
Equity Multiple
2.62x  
Annual Cash
N/R  
Years Of
Experience

As Principals
20+ years  
In Business
48 years  
Size
5 Staff * Dedicated investor relations
* All information is reported by The O'Donnell Group as of 6/11/2019.
Assets Under
Management

Currently
$166MM less than 10 assets
Exited
$230MM 20+ assets
Portfolio LTV
47%  
Historical
Returns

Total IRR
34%  
Equity Multiple
2.62x  
Annual Cash
N/R  
Years Of
Experience

As Principals
20+ years  
In Business
48 years  
Size
5 Staff * Dedicated investor relations
* All information is reported by The O'Donnell Group as of 6/11/2019.

Financials

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Offering Financial

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Diligence Preview

Location Details

New Castle, DE

The properties 263 Quigley Blvd and 34 Blevins Dr is situated in an in-fill location within an established industrial park. The park is strategically located near Wilmington, DE and between Philadelphia and Baltimore.The Property is within 4 miles of I-95 and I-295, which are the primary Northeastern US logistical thoroughfares. Airport Industrial Park is at the logistical core of the Philadelphia MSA and provides unrivaled regional connectivity.

Documents

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Offering Agreement Documents

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