PODS Tampa
Investment Thesis:
- Investment provides JPMREIT with exposure to two logistics and storage facilities in Tampa, one of the fastest-growing metropolitan areas in the U.S., *in densely populated areas with close proximity to major highways and significant supply constraints
- Stable cash flow, secured by a long-term lease with PODS, a well-established brand and leader in portable storage solutions with 4% annual rent increases
- Long-term upside with potential for rent increases and future development opportunities
- Located inland with reinforced structures and advanced systems designed to withstand severe weather conditions, ensuring operational continuity and asset protection
Property Type
Logistics and storage
Market
Tampa
Investment Date
November 2024
Size
155k Square feet
Purchase Price
$25.8M
As of October 2024. Source: JPMAM. Assumptions are based upon available data at time of closing. All models and projections are subject to change and non-binding. Any forecasts, figures, opinions, views and investment techniques, unless otherwise stated, are those of the investment manager/ adviser at the time of this document. They are considered to be accurate at the time of writing, but no warranty of accuracy is given and no liability in respect of any error or omission is accepted. They may be subject to change. Past performance is not a reliable indicator of current and future results. All statistics are intentionally as of the closing date unless otherwise noted and in local currency. *Source: U.S. Census Bureau.
