Case Studies
Rhode Island industrial
Acquisition Date: 2/8/2018
Initial Project Costs: $4,400,000
Total SF: 66,065
Structure: N/A
Current Occupancy Level: 100%
Type: Industrial Warehouse
Location: Providence, Rhode Island
Thesis
Acquired a fully leased, multi-tenanted warehouse building with a strong occupancy history at below replacement cost. The location benefited from its excellent proximity to the region’s major distribution networks and access to major highways. Unique features of this property include ceiling heights up to +20' clear, access to excess parking, and configurable layouts. All of these features are scarce in the immediate submarket.
North End Multi-family
Acquisition Date: 3/1/2020
Initial Project Costs: $5,500,000
Total Units: 10
Structure: N/A
Current Occupancy Level: 70%
Type: Multi-family
Location: Boston, Massachusetts
Thesis
The property presented a rare opportunity to acquire a troubled asset in receivership. JB Capital was able to move quickly and navigate the complex litigation process. The property benefits from a superior location in the North End submarket of Boston. JB Capital identified select value-add opportunities, which include professional management, deferred maintenance, performing interior renovations, and RUBS recapture.
Class-A Marlborough Flex
Acquisition Date: 2/8/2018
Initial Project Costs: $6,200,000
Total SF: 45,829
Structure: Joint Venture
Current Occupancy Level: 100%
Type: Distribution/Flex
Location: Marlborough, Massachusetts
Thesis
The property presented a unique opportunity to acquire a Class-A flex/office asset in a supply-constrained market. Upon acquisition, the property was fully leased to a diverse set of credit tenants who had significant capital investment in their respective spaces. The property is centrally located at the intersection of I-495 and I-90, which provides access to a highly skilled employee base and strategic distribution routes. The partnership saw upside potential by way of professional management, contracted rent increases, and the completion of previously deferred maintenance.
Single Tenant warehouse
Acquisition Date: 9/1/2019
Initial Project Costs: $1,500,000
Total SF: 35,000
Structure: Joint Venture
Current Occupancy Level: 100%
Type: Warehouse
Location: Lowell, Massachusetts
Thesis
The property presented an exceptional opportunity to acquire a single-tenant industrial property at well below replacement costs. The urban infill property benefits from an in-place credit tenant, a long-term lease, a durable cash flow, and a mission critical location for the existing tenant.