ElmTree Net Lease Fund II is pleased to announce the acquisition of two industrial buildings, totaling $26,450,000. Both facilities are located in Dallas, Texas.
The first property, a 150,975-square-foot industrial facility, was acquired by ElmTree for $14.8 million. The building is occupied by Sikorsky Aircraft Corp., a subsidiary of United Technologies Corp., under a 10-year lease agreement that began in 2009. Under the terms of the acquisition, Sikorsky has a right to expand the facility up to an additional 150,000 square feet. The site is located at 2717 S. Main St. within the Dallas-Fort Worth Airport and is subject to a 40-year ground lease.
The second property, a 72,056-square-foot building, was acquired by ElmTree for $11.65 million. The facility is located on a 4.24-acre site leased from the Dallas-Fort Worth Airport Authority. Hitachi High Technologies America occupies the facility through a 10-year lease agreement that has nine years remaining. The building is used for the manufacturing and development of microchips and to provide training to clients that purchase from Hitachi. In addition, the facility contains several Clean Rooms, Type I and IV, a Product Demonstration Room and a designated Foreign Trade Zone area in the warehouse portion of the building. The mezzanine is completely finished out with administrative and sales/technical offices.
For more information on these acquisitions and other closings, visit www.elmtreefunds.com.
About Sikorsky Aircraft Corp.
Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in helicopter design, manufacture, and service. United Technologies Corp., based in Hartford, Conn., provides a broad range of high technology products and support services to the aerospace and building systems industries. For more information, visit www.sikorsky.com.
About Hitachi High Technologies America, Inc.
Hitachi High Technologies America, Inc. (“HTA”) is a privately-owned global affiliate company that operates within the Hitachi Group Companies. HTA sells and services semiconductor manufacturing equipment, analytical instrumentation, scientific instruments, bio-related products, as well as industrial equipment, electronic devices, electronic and industrial materials, consumer electronic products, wireless mobile telephones, and hard disk manufacturing system. For more information, visit www.hitachi-hta.com.
About ElmTree Funds, LLC
ElmTree Net Lease Fund II, LLC is a real estate private equity fund sponsored by ElmTree Funds, LLC. ElmTree Funds, LLC is a private equity investment firm based in St. Louis, with offices and affiliates in Charlotte and New York, that seeks opportunities in the commercial sale leaseback and net lease real estate markets. www.elmtreefunds.com.
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For more information, please contact:
James G. Koman Joseph Yiu Julie Hauser
Managing Principal CIO & Managing Principal The Hauser Group
(314) 261-7348 (201) 892-5550 (314) 436-9090