Willard Business Park

Investment Overview

Willard Business Park (the “Property”) is a ±24,000-square-foot, multi-tenant small-bay industrial asset located in Fort Worth, Texas. The Property consists of 16 suites that are 100% occupied by 15 tenants, all on NNN leases, with a Weighted Average Lease Term (WALT) of 15 months. The Property is 100% occupied at average in-place rents of $11.43/SF NNN, significantly below verified market lease comps of $14–$18/SF NNN, creating the opportunity to add value by marking rental rates to market as leases expire. The Property is offered at an attractive 7.03% in-place cap rate with a Year-5 pro forma cap rate of 10.06%. Submarket vacancy is just 6.9%, with zero net new supply projected through 2030 (CoStar). Built in 2022, the four-building project features a masonry façade, an average suite size of ±1,500 square feet, 14'2" to 18'9" clear heights, 16 grade-level loading doors, a concrete parking lot, and approximately 5% office / 95% warehouse finish-out, making the Property well suited for light industrial and service-oriented tenants. The Property has frontage on E Loop 820 S, with traffic counts exceeding 82,400 vehicles per day, providing exceptional highway visibility. The infill location offers convenient access to E Loop 820 S, I-20, I-30, and the broader Dallas–Fort Worth Metroplex. Within a five-mile radius, average household income exceeds $86,100 and median home value exceeds $268,300 (CoStar). Overall, Willard Business Park offers investors the opportunity to acquire a 100% leased, recently constructed small-bay industrial asset with an attractive 7.03% in-place cap rate and meaningful embedded upside through near-term rental rate mark-to-market. The Property’s 2022 construction, NNN lease structure, diversified tenancy, and constrained submarket supply further support the investment thesis.

Investment Highlights

• Mark-to-Market Opportunity: In-place rents of $11.43/SF NNN compared to market lease comps of $14–$18/SF NNN.
• Attractive In-Place Yield: 7.03% in-place cap rate with a 10.06% Year-5 pro forma cap rate achieved through marking rents to market.
• Diversified Tenancy & NNN Leases: 16 suites leased to 15 tenants, all on NNN leases, with a WALT of 15 months.
• Built in 2022 with High Functionality: Built in 2022 with masonry façade, concrete parking, 14'2" to 18'9" clear heights, 16 grade-level loading doors, and ±5% office / 95% warehouse finish-out.
• Highway Frontage: Frontage on E Loop 820 S with 82,400+ vehicles per day, providing prominent visibility to passing traffic.
• Infill Location: Infill Fort Worth location positioned on E Loop 820 S between I-20 and I-30.
• Strong Submarket Fundamentals: Submarket vacancy of 6.9% and zero projected net new supply through 2030 (CoStar).
• Solid Demographics: $86,100+ average household income and $268,300+ median home value within a five-mile radius (CoStar).