Press Releases

EQUUS ANNOUNCES 400,000 SF BUILD-TO-SUIT FOR FIAT CHRYSLER IN WINCHESTER, VIRGINIA

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><img src="/media/017cb789-95f7-4b29-813a-ab1f7874487d/Press Releases/2016_6-1_Stonewall Developement_FCA Lease_6-1-2016/I-81 Stonewall Industrial Park - Aerial Photo - 5-26-16_jpg" /></p> <p>Equus Capital Partners, Ltd. (“Equus”), one of the nation’s leading private equity real estate fund managers, announced today that it has entered into a Build-To-Suit lease agreement with FCA US, LLC (Fiat Chrysler Automobiles) for the development of a 400,400 square-foot Class-A industrial warehouse and distribution facility in the Stonewall Industrial Park in Winchester, Virginia.&#160; The Stonewall Industrial Park is located along the Interstate 81 (“I-81”) corridor in Frederick County, Virginia, approximately 75 miles west of Washington, D.C.&#160; Equus broke ground on the project in February 2016.&#160; The property will be a Mid-Atlantic parts distribution center for the MOPAR operation.&#160; MOPAR is the parts, service, and customer care organization within Fiat Chrysler Automobiles (“FCA”).&#160;</p> <p>Located at Exit 317 of I-81 in Virginia, the Class-A industrial project will represent the third build-to-suit project for Equus in the region. &#160;The 400,400 square-foot build-to-suit industrial facility will sit on a 52-acre site within the Stonewall Industrial Park.&#160; The facility will be constructed of tilt-up concrete panels and will boast the following specifications:&#160; 32’ clear height, energy efficient T5 interior lighting, 8” concrete floors, 50’ x 50’ column spacing, and an ESFR sprinkler system.&#160; Equus plans to complete construction by the end of November 2016.&#160;</p> <p>FCA will use the facility to handle more than 50,000 part numbers being distributed to over 200 FCA US dealerships located primarily in the Mid-Atlantic region as well as some locations in the East Coast, Midwest, and South.&#160; The facility will create more than 70 new jobs in the region.&#160; FCA was represented by Jarred Testa and Michael Walsh of Cushman &amp; Wakefield’s Baltimore, Maryland office.&#160;</p> <p>Equus’ 52-acre parcel was engineered to accommodate two buildings and in October 2015, Equus broke ground on a 330,050 square-foot speculative industrial facility (immediately adjacent to the FCA project).&#160; That building will be substantially complete by June 2016.&#160; Equus’ aggressive local and national marketing program has yielded significant interest in the speculative project and the firm anticipates it being 100% leased by the end of the summer.&#160; John Lesinski and Ben Luke of Colliers International’s Tysons Corner, Virginia office are leading the marketing efforts.</p> <p>The I-81 Virginia region has been a destination for several build-to-suit development projects in recent years.&#160; The dynamics of the region, including availability of labor, ease of uncongested truck travel along I-81 and access to the Mid-Atlantic &amp; Midwest population centers, makes I-81 very attractive for new users as well as existing users looking to expand their operations.&#160;&#160; Frederick County, Virginia is home to numerous other large, well-known industrial users such as Ozburn Hessey Logistics, Rite Aid, Home Depot, Kraft Foods, McKesson, Rubbermaid and TREX.&#160;&#160;</p> <p>“The I-81 region of Virginia is an excellent transportation corridor that &#160;provides access to major east coast markets such as Washington, D.C., Baltimore, and Philadelphia,” commented Dan DiLella, Jr., Senior Vice President at Equus.&#160; “This region is home to a number of mid and large sized companies looking to distribute product up and down the East Coast and into the Midwest.&#160; Factors such as the availability of quality labor, relatively low taxes and centralized location along the east coast have led to the continued development of the I-81 corridor in Virginia.”</p> <p>Since expanding into the I-81 corridor in 2005, Equus has acquired, developed and leased approximately 2,120,000 square-feet of industrial space including a 450,000 square-foot build-to-suit lease for McKesson Corporation.&#160;</p> <p>With more than $4 billion assets under management, Equus is an experienced real estate development firm with significant equity and debt resources.&#160; “We demonstrated our development expertise and our ability to capitalize a project of this scale to FCA.&#160; That was key to the FCA decision makers as they evaluated the benefits of locating at the Equus site,” added DiLella.</p> <p>BPG Development Company, L.P., Equus’ development operating arm, will oversee development and construction.&#160;</p> <p><strong>About Equus Capital Partners, Ltd. <br /> </strong> Equus Capital Partners, Ltd. (“Equus”), is one of the nation’s leading private equity real estate fund managers. Equus’ portfolio consists of approximately 18 million square-feet of office, retail, and industrial properties and nearly 11,000 apartment units across 48 multi-family communities located throughout the United States. The firm is headquartered in the Philadelphia area, with a principal office in Yardley, PA, and with offices in Philadelphia, Chicago, Los Angeles, Washington, D.C., Boston, Atlanta, and Raleigh-Durham. For additional information, please visit the company’s website at <a href="http://www.equuspartners.com/">www.equuspartners.com</a>. <strong></strong></p> <p><strong>For additional information about the company, please contact: <br /> </strong> Joseph G. Nahas, Jr., CRE, Senior Vice President<br /> (215) 575-2363 or visit <a href="http://www.equuspartners.com/">www.equuspartners.com</a></p> <p><strong>For additional information on the property, please contact:</strong><br /> Daniel M. DiLella, Jr., Senior Vice President<br /> (215) 575-2352</p> </body> </html>