INDUSTRIAL VALUE-ADD

In August 2023, Frontline Realty Capital acquired a vacant industrial building in the Santa Rosa market for $4,650,000. The property, a defunct cannabis facility, was purchased below market value in a highly supply-constrained market. Frontline completed a series of exterior and interior upgrades, including replacing the roof and HVAC, to prepare the building for industrial tenants and users. The building was leased to Rexel Corporation, an international electrical supply company, and sold in November 2024 to a 1031 exchange buyer for $7,840,000.Frontline’s partner on this deal was Evcap Investments.