Investment Overview

Marcus & Millichap is pleased to announce the opportunity to acquire a high performing industrial outdoor storage and equipment rental yard (the “Property” or “Asset”) located in Fort Myers, Florida that is leased to EquipmentShare (“Tenant”). EquipmentShare is a nationwide construction solutions provider dedicated to solving industry pain points through smart jobsite technology and equipment rental, retail, and service centers. This Asset is located just two miles southeast of the downtown Fort Myers commercial district and in the center of the Fort-Myers Cape Coral MSA, which encompasses a population of almost 800,000. Additionally, the site is just three miles from I-75, the metro’s main interstate that runs south from Tampa through the MSA to Naples, and then angling east to Miami. The metro has experienced strong population growth with the wider adoption of remote work, allowing working professionals to relocate to the area from higher cost markets. Common origins for residents who relocated to Fort Myers since 2019 include New York City, Chicago and the northern California Bay Area. Fort Myers is roughly 125 miles south of Tampa and 140 miles west of Fort Lauderdale. The market is slated to expand by nearly 88,000 people and 37,000 households over the next five years, generating demand for housing development and additional uses such as industrial and retail. The Fort Myers industrial market has expanded by roughly 2.6 million SF over the trailing 12-month period, a critical factor in the market’s vacancy rate increasing by over 450 basis points over that period. Fort Myers’ vacancy rate has been on a steep incline over the past year, from an all-time low of 0.9% recorded in early 2023 to 5.8%, as of the third quarter of 2024. Industrial demand has been positive over the past year, with the market recording 820,000 SF of absorption and under construction inventory has dropped to 1.7 million SF, with expectations that continued absorption will bring the vacancy rate downward as the construction pipeline subdues. The Asset is subject to a long-term lease with +/- 12.0 years remaining on an absolute triple net structure with 1.50% increases annually over the firm term, and two (2) 5-year extension options. This offering provides investors with the opportunity to receive long-term assured cash ?ow with a credit-worthy Tenant who is the fastest-growing equipment rental company in the United States