Introducing our Newest Asset: The Landing at One Chestnut

We are excited to announce the IPO of our next asset, The Landing at One Chestnut in Nashua, New Hampshire.

One Chestnut Fast Facts:

  • Estimated annualized 7.4% distribution rate1
  • 430,804 net rentable square feet2
  • Built in 1915 with recent significant capital improvements
  • Located in Nashua, New Hampshire, less than 1 hour from Boston
  • Asset Class: Industrial / Flex Warehouse
  • Over 82% leased (as of October 1, 2022)2

One Chestnut is host to more than 50 diverse tenants, many with long-term leases. The average tenure of the top four tenants is over 25 years, and the four largest tenants collectively lease 57.8% of the property’s net rentable square footage.2

These four tenants include: 

  1. Extra Space Storage (NYSE: EXR): A national storage solution company offering vehicle, RV, business, and self-storage facilities. Extra Space Storage Nashua offers heated units, an on-site manager, and video surveillance security. 
  2. Critical Process Filtration, Inc: A vertically integrated manufacturer and supplier of premium process filtration products and services. Critical Process Filtration was founded in 1998 and has decades of experience in multiple industries, including pharmaceutical manufacturing, food & beverage processing, and chemical processing.
  3. Alternative Logistics: A veteran-owned third-party logistics (3PL) company based in Nashua, New Hampshire. Since 1992, the company has provided order processing and fulfillment, warehousing, inventory management and purchasing, and shipping services to clients across the U.S. 
  4. Colonial Electronic Manufacturers, Inc: A full-service Electronic Manufacturing Service (EMS) company. CEM has been in business since 1992 with defense, industrial automation, medical, and telecom customers.

The owner of this property, Manzo Freeman Development (MFD), brings over 40 years of expertise in managing and developing industrial properties in the New England area. The MFD team optimizes for more substantial lease terms by investing in property improvements that address tenant needs. As part of this strategy, $1.5M in updates are planned and underway at One Chestnut. New bathrooms, lighting, and windows have been installed throughout the building, and additional enhancements will be made to One Chestnut’s exterior, elevators, and parking lots to improve the experience for existing tenants and appeal to new ones.

A 2022 Q2 report by Colliers indicates that rental rates may continue to increase as a result of a tight market and continued demand for industrial space, creating long-term value in One Chestnut.3

Interested in shares of One Chestnut? Here’s how to invest with LEX. 

LEX offerings are open to all interested US investors. Investors can open an account with LEX in just minutes and there are no accreditation requirements to participate. 

One Chestnut’s IPO is currently live, and investors can purchase shares of the asset through the LEX platform.

Once One Chestnut’s IPO closes, investors can trade their shares on LEX, with no lockups or required holding periods.4 Investors in One Chestnut receive their proportional share of distributions as paid by the owner-operators. 

New to LEX? 

Create and fund your LEX account today. Once your account is created, you’ll be able to indicate your interest in One Chestnut. Once your account is funded, you’ll be able to participate in the IPO when it is live! 

Already a member of LEX? 

Learn more about One Chestnut with our research tools here

View our complete offering circular for One Chestnut here.

Want a more in-depth look at One Chestnut with a member of the LEX team?

For more details about investing in One Chestnut, we encourage you to reach out to our Investor Solutions team for a detailed walkthrough of the offering. Schedule a time here or reach us directly at (212) 870-8895.

1. Annualized rate, net of expenses, based on assumed IPO price of $250 per Unit. Annualized rate, net of expenses, based on assumed IPO price of $250 per Unit. This annualized rate is based on the Manager's historical quarterly distributions made by OpCo to its sole member. For additional information, see “Distribution Policy – Historical Declared Distributions” on page of 18 of the Offering Circular available here.

2. Lease data as of 10/1/2022.

3. According to Colliers’ Q2 2022 New Hampshire Industrial Market Report.

4. Liquidity is not guaranteed.

This document shall not constitute an offer to sell or the solicitation of an offer to buy an interest in the Company or other offering, which may only be made at the time a qualified offeree receives the offering circular contained within the Offering Statement (the “Offering Circular”), and the subscription agreement pursuant to which a potential investor may participate in the offering by subscribing for limited liability company units of the Company (Units).

All information contained herein is qualified in its entirety by the detailed information that is contained will appear in the Offering Circular, subscription agreement, and the related offering information. The Offering Circular is available here.

Potential investors are encouraged to consult with professional tax, legal, and financial advisors before making any investment into a securities offering. This investment may not be suitable for all investors. Distributions not guaranteed.  Property performance and performance of property tenants not guaranteed. Diversification does not eliminate the risk of experiencing investment loss. 

All investment services are offered by LEX Markets LLC, Member FINRA/SIPC.

January 23, 2023

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