Address Not Disclosed, Tuscaloosa, AL

This industrial portfolio features two properties fully leased to Sunbelt Rentals. The first property is a freestanding industrial facility originally built in 2018 and further improved in 2021. Sunbelt recently exercised its first five-year option period, extending the lease with over four years and eight months remaining in the current term, with two additional five-year options. The lease includes 2% annual rent increases and was recently amended to expand the site to more than eight acres, including Sunbelt’s election to lease an additional four acres for enhanced Industrial Outdoor Storage (IOS). Sunbelt also has significant leasehold improvements planned. The second property is a 2021 build-to-suit facility also leased to Sunbelt Rentals. A recently renegotiated lease expanded the improved IOS area and restructured the rent schedule for lease years six through fifteen, including a substantial 22% rent increase in 2026 followed by 2% annual escalations. This location includes two remaining five-year extension options. The properties are strategically positioned within an established industrial park, providing immediate access to Interstate 359 and Interstate 20 and is supported by a dense population base of more than 135,000 residents within five miles. The lease structure is NN with landlord responsibilities limited to roof, structure, and foundation.