Investor SomeraRoad has entered the industrial market with the purchase of an 8-property portfolio for $137 million. The portfolio is part of SomeraRoad’s new net lease income-producing real estate investment platform. The new investment vertical has buying power of up to $600 over the coming years.
The 8-property portfolio totals 1.5 million square feet, and each property is fully leased to a diverse tenant base, including ABB Ltd., Unison Industries, Fed Ex, Café Valley, McFarling Foods, and Black Gold Farms. More than 50% of the current cash flow comes from investment-grade credit.