Chicago & Midwest + Midwest + Industrial | March 23, 2021

“Compelling” Unsolicited Offer Leads to IN Warehouse Sale for Mohr Capital

Dallas-based Mohr Capital has sold a 200,000-square-foot warehouse and outdoor storage facility occupied by GAF Materials Corporation and located at 130 Tri Quad Dr. in Michigan City, IN. Terms of the sale weren’t disclosed.

Mohr Capital’s sale of the multi-use site, which includes 23 acres of concrete storage capacity, arose from an unsolicited offer by Four Springs Capital Trust, an internally managed real estate investment trust based in Lake Como, NJ.

“Midwest industrial real estate is at a premium for both investors and corporate end users, especially for single-tenant, net-leased properties with mission-critical operations,” said Gary Horn, chief development officer for Mohr Capital. “Four Springs approached us with an unsolicited offer. While we intended to hold the asset long term, the offer was compelling and has provided us the necessary capital to continue our investment and development efforts in the region.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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