PORTFOLIO

This 84,000 SF three-building complex is a good illustration of a niche investment opportunity. Deemed too management intensive by institutional owners, this thirty-tenant property is home to a variety of office and industrial firms. Consistent high occupancy levels over three decades of ownership are a testament to Morgan’s expertise in overseeing the management and leasing of this asset. The complex is owned by a partnership including Morgan principals and high net worth individuals.

This 43,000 SF building has been held in the Morgan portfolio for over 24 years at 100% occupancy by manufacturers and warehousers for virtually all of that time. A relatively small building that is typically avoided by large investors, it continues to thrive under Morgan management. The property is owned by a partnership including Mike Klonoski and high net worth individuals.

This 78,000 SF multi-tenant office/industrial building was acquired in 2015 by a Morgan-sponsored entity composed of Morgan principals and individual investors. This investment is an example of Morgan’s ability to target an underperforming asset. Working with skilled leasing agents and property managers, Morgan upgraded building systems and addressed deferred maintenance. At acquisition this property was approximately 20% vacant. Ownership successfully increased occupancy to over 96% within three years. The property is now a well-occupied, cash-flowing asset.

This 85,000 SF three-building complex was acquired in 2018 by a Morgan-sponsored entity composed of Morgan principals and individual investors. It is occupied by a diverse tenant base, including office users, trucking firms, and national retailers. This well-located, highly accessible single-story office/industrial property presented the opportunity to increase net operating income through the lease-up of vacant units and renewal of existing tenants. Occupancy has consistently averaged over 88%.

This 18,300 SF two-tenant industrial building was purchased in 2016 by a Morgan-sponsored entity in a 1031 tax deferred exchange. At acquisition, lease expirations presented opportunities to increase cash flow and stabilize the asset. The building is now 100% occupied by firms in the construction and engineering industries.

Morgan sponsored the acquisition of two fully-entitled industrial sites comprising 18.2 acres in Batavia. The land was purchased on an all-cash basis with sufficient funds to cover soft costs during the projected holding period. One of the sites was sold to a developer in 2016. The remaining site is well-located with favorable taxes, zoning, utilities and minimal competing sites. This acquisition highlights Morgan’s long-term view as it warehouses unique development opportunities.