Investment Strategy: Stabilized Asset Secondary Market
FD Stonewater acquired this asset in 2014. The existing facility is 100% leased to and occupied by Northrop Grumman (Northrop Grumman acquired Orbital ATK in 2018), a leading developer and manufacturer of products that support the aerospace and defense industries. The deal had complex underwriting challenges and limiting financing options. The FD Stonewater development and asset management teams negotiated the expansion plans along with the long-term lease renewal. The FD Stonewater development team completed the 35,000 SF expansion and interior improvements in 2018.