CAI Investments, LLC, a property manager\/developer, and private placement sponsor, has fully subscribed its Delaware statutory trust offering of a 470,000-square-foot manufacturing facility located in the Charlotte suburb of Statesville, North, Carolina.<\/p>\n\n\n\n
The offering, CAI Investments Medical Products I DST, launched in April 2022 and sought to raise $18.1 million from accredited investors, according to a filing with the Securities and Exchange Commission.<\/p>\n\n\n\n
Situated on 21 acres of land, the manufacturing facility includes approximately 52,300 square feet of office space and is located near major freeways with access to rail transportation.<\/p>\n\n\n\n
The property, renovated in 2010, is fully occupied by Kewaunee Scientific Corp. (NASDAQ: KEQU), a manufacturer of laboratory, healthcare, and technical furniture products with customers that include Chevron, Johnson & Johnson, Shell, Intel, Proctor & Gamble, Dupont, among others. All products are manufactured at the Statesville facility, which serves as the company\u2019s global headquarters.<\/p>\n\n\n\n
\u201cIt was another success,\u201d said James Hickey, senior vice president of capital markets. \u201cAs in our past offerings, we drill down to who is actually paying the tenant. Companies such as Shell, Chevron, Du Pont, P&G, Pfizer, Coca-Cola, Intel, Johnson & Johnson and others provide for a more dependable income stream and capital preservation for our investors.\u201d<\/p>\n\n\n\n
Kewaunee Scientific has occupied the building since 1955 and signed a new 20-year lease, with 2 percent annual rent increases when CAI purchased the facility.<\/p>\n\n\n\n
Headquartered in Las Vegas, CAI Investments is a real estate development company that finances, develops, and manages commercial properties in key markets across the United States.<\/p>\n\n\n\n