CrowdStreet: Londonderry Industrial Built-To-Suit

Real estate investment platform CrowdStreet launched an offering for an industrial development in Londonderry, New Hampshire. 

The development, 45 minutes north of Boston, will be a build-to-suit industrial building with an executed long-term lease agreement with a Fortune 500 tenant. The 75,000-square-foot warehouse will be built for Beacon Roofing Supply, the largest publicly traded distributor or roofing materials in the United States and Canada. 

The project is fully entitled and construction will begin upon the closing of the funding period. The 13.9-acre parcel was acquired in an advantageous off-market transaction that provided project sponsor Rhino Capital Advisors with a below-market basis cost. The warehouse is in prime location just off of Interstate 93 with access to I-495 and I-95, giving Beacon Roofing access to the entire Northeast region of the U.S.

Londonderry falls within the highly sought-after Rockingham industrial submarket. The submarket has a 2.6% vacancy rate with a 12-month rent growth rate of 7.11%. Among the benefits the project offers investors is a 10-year lease to Beacon Roofing with a built-in 3% annual rent-escalation clause and a five-year extension option.

Boston-based Rhino Capital Advisors LLC has extensive knowledge and experience in the region. Rhino Capital’s investment strategy is to acquire and develop off-market, value-add industrial, flex and office assets in the greater Boston metropolitan statistical area as well as multifamily opportunities in Boston and select suburban locations. 

The Londonderry industrial project represents Rhino Capital’s fifth facility and third ground-up development leased to Beacon Roofing. The group manages 27 projects with over $308 million in total asset value. 

CrowdStreet will host a live webinar for the offering at 10 a.m PT on May 25. The investment window will open 30 minutes into the webinar. 

View details on CrowdStreet’s offerings

Photo courtesy of CrowdStreet