Mercana Distribution Center

In September 2025, Box Equities and its partner, PIMCO, acquired this 121,000 SF Class A industrial & R&D build-to-suit facility fully leased to Altas Copco. Built in 2014, the property is one of only six global innovation centers that houses sophisticated operations including material testing, prototype production and final assembly of the company’s fastening business. The asset is located in Oakland Technology Park, Detroit’s premier industrial/flex submarket strategically proximate to major auto and Fortune 500 companies including Stellantis headquarters.

In August 2025, Box Equities expanded its Port of Virginia portfolio with the acquisition of a 27-foot clear, 114,000 SF manufacturing building in Newport News, Virginia. During due diligence, Box procured Huntington Ingalls Industries as the tenant for the entire building. Box plans to significantly upgrade the property with a newly paved parking lot, nearly 3 acres of outdoor storage, new LED lighting throughout the interior space, refreshed office space, and the addition of a rear drive-in door.

In September 2025, Box Equities acquired a 150,000 SF distribution facility located in Rockford, IL fully leased to GXO Logistics. The property is strategically located half a mile away from I-90 and less than 3 miles from the Chicago Rockford International Airport (12^th largest cargo airport in the country).  GXO has been a tenant at this building for over 29 years and services many customers out of this location. The property includes a separate specialized facility dedicated to flammable material storage with foam fire suppression.

Box Equities and its partner, Rockwood Capital, acquired this 70,000 SF purpose-built manufacturing building in Raleigh, NC. During due diligence, Box was able to negotiate a lease extension with the current tenant PCX, a wholly owned subsidiary of investment grade credit, Hubbell Incorporated. Nearly 100 Hubbell employees work at the subject building manufacturing prefabricated data center equipment. The property is located one block away from Novo Nordisk’s 1.4 million square foot GLP-1 manufacturing plant.

In September 2025, Box Equities acquired a 93,000 SF distribution facility located in Rockford, IL fully leased to Pierce Packaging. Pierce has been a tenant at the property for 12 years and recently exercised its fourth renewal at the subject location. This property is located proximate to corporate headquarters and represents its most important distribution facility servicing numerous customers out of this location.

In August 2025, Box Equities acquired this 135,000 SF flex industrial building in the heart of Salt Lake City, UT.  This former Netflix and United Airlines facility now houses 3 tenants: The Department of Defense, The State of Utah Division of Facilities Construction and Management, and Manhattan Telecommunications Corporation. This 11-acre property sits adjacent to SLC International Airport and is accessible directly from I-80.

In April 2025, Box Equities acquired this Hickory, NC 118,000 SF fiber cable manufacturing and distribution facility fully leased to Avient Corporation (NYSE: AVNT). The property is located within a submarket that supplies over 40% of the entire country’s fiberoptic cables with key customers located within a 20-mile radius of the building.

In March 2025, Box Equities and its partner, PIMCO, acquired this 95,000 SF, mission critical manufacturing facility fully leased to investment grade company, Illinois Tool Works (NYSE: ITW). The asset is located in Missouri Research Park, the first business park in St. Louis that consists of several creditworthy tenants including Nike, Bing, and Eurofins. This acquisition is part of a broader investment-grade core-plus aggregation strategy that Box is executing with PIMCO.

In January 2025, Box Equities acquired this Frankfort, KY, 150,000 SF purpose-built manufacturing facility fully leased to AA- Japanese manufacturing company, Nitto Denko. Nitto is a member of the Mitsubishi UFJ Financial Group and one of the 70 largest companies on the Tokyo Exchange. The company chose Frankfort because it is strategically located within a 5-hour drive of its key customers.

In December 2024, Box Equities and its partner, Rockwood Capital, acquired this Charlotte, NC 60,000 SF manufacturing facility fully leased to ARC International. The property is located in Stateline, Charlotte’s largest and tightest industrial market.

In September 2024, Box Equities and its partner, Rockwood Capital, acquired this Port of Virginia, 28-foot-clear, 122,000 SF facility 2/3 leased to International Paper (NYSE: IP) and 1/3 leased to local 3PL, AMP Logistics. The property’s 28-foot clear height is exceptionally high as over 97% of the inner beltway product has lower clear heights than the subject asset.  In April 2025, Box was able to re-lease the AMP Logistics space to adjacent tenant US Port Services.

In September 2024, Box Equities and its partner Rockwood Capital acquired this Port of Virginia, 28-foot clear, 80,000 SF facility fully leased to US Port Services. The subject asset was acquired in conjunction with the adjacent International-Paper leased property. In April 2025, US Port Services decided to consolidate its Port of Virginia operations into the subject location, agreeing to lease an additional 40,000 SF in the adjacent Box-owned property. This acquisition is part of a broader Port of Virginia portfolio aggregation strategy.

In October 2024, Box Equities acquired this Knoxville, TN 200,000 SF asset fully leased to three tenants. The purpose-built manufacturing facility is majority leased to Fulton Bellows (a wholly-owned subsidiary of investment grade company, Smiths Group). The acquisition was sourced directly from the current owner using Box’s proprietary acquisition software. With 91 million SF and less than 2 million SF vacant, Knoxville is one of the tightest industrial markets in the country.

In September 2024, Box Equities and its partner, Rockwood Capital, acquired this 94,000 SF, 29-foot clear, manufacturing facility fully leased to Airgas USA (a wholly owned subsidiary of S&P A-rated Air Liquide). The property is located inside the I-285 loop in Smyrna, GA, an infill Atlanta submarket with very limited developable land.

In August 2024, Box Equities acquired this Cleveland, OH, 36-foot clear, 78,000 SF warehouse fully leased to Spectrum, a subsidiary of investment-grade rated Charter Communications (NASDAQ: CHTR). Spectrum has been at this location for over a decade and continues to invest in the asset. The company uses the facility to store broadband, fiber optic, cable equipment, service vehicles, and supplies for its Cleveland operations.

In August 2024, Box Equities acquired this Lexington, KY 28-foot clear, 80,000 SF fully HVAC’d warehouse leased to Buske Logistics, a leading 3PL primarily servicing the bourbon industry including the immediately adjacent Jim Beam distillery. The property is used for repackaging, storage, and distribution of liquor, soda bottles, pharmaceutical coolers, and raw materials.

In February 2024, Box Equities acquired this Athens, GA 275,000 SF manufacturing facility fully leased to Carrier Corporation (NYSE: CARR). The fully HVAC’d building operates as Transicold’s headquarters as well as the only Transicold manufacturing facility in the US. Carrier has occupied the building since 1987, employing hundreds of manufacturing and corporate personnel. In January 2025, Carrier renewed its lease enabling Box Equities to execute a cash out refinancing of the asset within 12 months of the acquisition.

In August 2023, Box Equities acquired this Spartanburg, SC 100,000 SF facility fully leased to M@C Discount, a fast-growing online discount auctioneer. Box was selectively approached by a local broker after a previous buyer failed to close. The property benefits from zero turn highway access onto the i-85, which is highly appealing to a multitude of tenants.

In August 2023, Box Equities acquired this Lumberton, NC 350,000-SF facility fully leased  to C&S Wholesale Grocers. The tenant has the exclusive right to distribute all Amazon groceries across the SE of which 40% of the Amazon distribution comes from this facility. The Property is strategically located in the central East Coast region where 70% of US and Canadian markets can be reached overnight. The tri-temperature systems create a very attractive facility that will appeal to a wide range of cold storage tenants.

In May 2023, Box Equities acquired this Little Rock, AR 305,000 SF cold storage facility 100% leased to Performance Food Group (NYSE: PFGC). The 100% cold storage facility features both below-zero freezer space and 35-degree temperature refrigeration space. The tenant has been at the facility since 2004, expanding four times over the last 19 years and investing over $9 million to upgrade and maintain its cold storage systems. The property is PFGC’s only facility in Arkansas (1 of 64 across the country) and distributes to customers in 6 different states from this location.

In June 2022, Box Equities acquired this Howe, IN 350,000-SF facility fully leased to Therma-Tru, a subsidiary of Fortune Brands Innovations, Inc. (NYSE: FBIN). Founded in 1962, Therma-Tru is the leading entry door brand that pioneered the fiberglass entry door industry. This purpose-built facility is located off of I-90 and less than one hour away from Therma-Tru’s main manufacturing plant in Butler, Indiana.

In June 2022, Box Equities acquired this Jonesboro, AR 195,000-SF facility fully leased to Duravant. The facility sits on 25 acres and serves as the operational headquarters of Duravant subsidiary, FMH Conveyors (one of several conveyor belt companies owned by Duravant). Sales, distribution and the executive office all sit within this facility. The tenant builds custom conveyor systems for large corporations like Amazon, Home Depot, Walmart and USPS. Box sourced this transaction from the same broker as the Box-owned Owens & Minor transaction in an off-market direct communication with the Seller, New Mountain Capital.

In April 2022, Box Equities acquired this Ocala, FL 100,000-SF cross-docked facility fully leased to Pratt Industries. Pratt, the 5th largest corrugated packaging company in the country, has been a tenant in the building since 2000. The facility is located in close proximity to Pratt’s corrugated sheet manufacturing plant and represents one of only sixteen recycling facilities across the country.

In February 2022, Box Equities acquired this Toano, VA 176,000-SF facility fully leased to Owens & Minor (NYSE: OMI). Since closing, the tenant has invested significant capital into new clean rooms for surgical equipment. Strategically located on the I-64 corridor with direct access to the Port of Virginia, this property serves as the headquarters for the Avid Medical division as well as its primary manufacturing and distribution hub. The Toano facility is only a 30-minute drive from O&M’s corporate headquarters in Mechanicsville, VA.

In December 2021, Box Equities acquired this Southfield, MI 43,000-SF facility 100% leased to FedEx (NYSE: FDX). FedEx has operated at the subject location since 1991 and extended the lease term to July 2030 prior to the sale of this asset. Unlike most FedEx leases, this property benefits from below market rent.

In December 2021, Box Equities acquired this Bloomington, IL 200,000 SF, 36’ clear facility fully leased to Rivian (NYSE: RIVN). The building was originally a just-in-time automotive facility operated by Mitsubishi and currently operates as a just-in-time logistics facility for Rivian’s only operational manufacturing plant located across the street. Prior to the acquisition, Rivian invested significant capital in our facility to create its security operations headquarters for its entire Normal, IL campus, demonstrating its long-term commitment to the asset.

In November 2021, Box Equities and its partner, Artemis, acquired this Kings Mountain, NC 530,000-SF facility 100% leased to HanesBrands (NYSE: HBI). This fully HVAC’d property with direct access to the I-85 was originally built in 1995 (build-to-suit for Hanes intimates) and went through a series of expansions in 2004 and 2016. Box was able to acquire the asset below replacement cost, because the property was encumbered by fixed rate CMBS debt that deterred institutional investors. Box leveraged its relationship with Hanesbrands to speak with the Global Head of Real Estate and confirm the company’s strategic interest in this B2B and D2C location.

In November 2021, Box Equities acquired a vacant 75,000-SF facility in Dublin, GA. Within 6 months Box procured Ascenso Tires to lease the entire building. This 2017 Class A industrial asset features 32-foot clear heights and is strategically located directly off of I-16 between Savannah and Atlanta. This was a repeat investment within Dublin, GA after Box established itself as a credible industrial owner within this submarket.

In June 2021, Box Equities acquired this Dayton, OH 150,000-SF facility fully leased  to PepsiCo (NYSE: PEP). This 2018 purpose-built 32-foot clear warehouse was a consolidation of two smaller facilities and represents only 1 of 10 modernized B2B US distribution centers (Pepsi has been in this market for over 80 years). Box was able to leverage its pre-existing relationship with senior leadership at Pepsi to validate the mission criticality of this asset.

In April 2021, Box Equities acquired this Dublin, GA 200,000-SF facility from the City of Dublin in a very rapid all-cash closing. Box cultivated a relationship with the local Economic Development Authority and demonstrated its ability to efficiently execute a public private partnership. After investing significant capital to upgrade the facility, Box leveraged its relationship with Best Buy (NYSE: BBY) to procure the company as a tenant. More recently, Box re-leased the building to a solar panel manufacturing company which created many new jobs for the city.

In September 2023, Box Equities acquired this vacant 375,000 SF manufacturing facility in Clarksville, AR previously owned by HanesBrands for the company’s hosiery division. Box Equities leveraged its relationship with HanesBrands to acquire this property off-market at below replacement cost. In April 2025, Box sold the asset to a user for a significant premium to its original cost basis.

In October 2018, Box principals acquired this vacant 400,000-SF facility in Mexico, MO that was formerly Brookstone’s main distribution center. Within 24 months, Box sold the asset to True Manufacturing. To optimize its supply chain, True acquired the asset as a distribution facility for its adjacent manufacturing plant.

Box principals acquired this vacant 163,000 SF manufacturing facility in Wytheville, VA previously leased to Global Brands Group (a subsidiary of Li & Fung). Box Equities leveraged its relationships within the Town of Wytheville to procure a local 3PL company that ultimately acquired the asset in May 2024.

In December 2020, Box Equities acquired this Mexico, MO 900,000-SF facility. The property is currently 2/3 leased to Home Depot (NYSE: HD) and 1/3 leased to Western Smokehouse, a private-label protein manufacturer. The Western Smokehouse lease was signed post-acquisition and was an integral part of the Box value-add strategy, extending the property’s WALT to 9 years and converting a portion of the property to cold storage use.