Berkeley Partners and its affiliated entities comprise a fully integrated principal investment firm focused exclusively on light industrial real estate. Since 2005, our affiliates have sponsored a series of investment vehicles dedicated to the light industrial sector. With its national footprint, the company is one of the premier institutional industrial operators and fund managers.
Berkeley Partners focuses on the light industrial market because the market is large, comprising 3~4 billion square feet with highly fragmented ownership. The market is underserved by institutional players despite demonstrating historically higher average occupancy and rental rates compared to warehouse and logistic spaces.
We cultivate a strong operator culture through our affiliated on-site property management teams that work to maintain high occupancy levels. Property managers are taught to be fiduciaries for Investors.
Through creative and custom utilization of innovative enterprise technologies, Berkeley Partners creates efficiencies in operations and communications that provide competitive advantages.
The Atlanta market is the third-largest industrial market in the US and primary distribution market in the South. 69.1% going-in occupancy, approximately 17% below the Atlanta industrial market occupancy rate of 86%. Purchase price represented a 53% discount to estimated replacement cost.
Two undervalued properties with going-in occupancy rates of 68%, well below the average occupancy level of the Salt Lake City industrial market of 91%. At acquisition, the Salt Lake City industrial market was recovering from a lack of new supply and positive net absorption.
Under-managed assets acquired at 56% below estimated replacement cost. Going-in occupancy was 83%, 16% lower than the industrial market peer group average. Austin, TX has experienced substantial population growth and net migration.