Pharmaceutics International Portfolio

JLL Capital Markets is pleased to present for sale leaseback, the three-property, 206,114 square foot portfolio consisting of 103 Beaver Court, 10819 Gilroy Road, and 10950 Beaver Damn Road. These properties are currently owned and occupied by Pharmaceutics International Inc, a contract development and manufacturing organization specializing in the developing and manufacturing pharmaceuticals. The Portfolio is located in Hunt Valley, Maryland, north of Baltimore City, just off Interstate 83. Hunt Valley has historically been Baltimore’s strongest performing industrial and flex market.

All three properties are 100% occupied by Pharmaceutics International Inc, and Pharmaceutics International Inc has agreed to a 15 year lease term. The properties all contain GMP (Good Manufacturing Practices) lab and office space. 103 Beaver Court and 10950 Gilroy are 30% and 35% warehouse, respectively.

The Pharmaceutics International Inc Portfolio provides investors with the opportunity to acquire three stable assets with long term income and capital investments, located in Maryland’s most land constrained industrial market.

Extensive Specialty Lab Build Out - Tenant has created state of the art manufacturing suites, clean rooms, packaging and storing facilities.

Significant Tenant Investment - Tenant has invested approximately $7 MM of their own capital in the space since 2010, and over $20 MM since taking ownership of the Portfolio.

Long-Term Net Lease - Pharmaceutics International, Inc will enter into an absolute net lease upon settlement.

Targeted Product Type - Recent funding into the life science sector due to the Covid-19 pandemic is fueling demand for life science related buildings with occupancy poised to benefit from recent investments into the industry.

Stable Tenant With Growing Revenues - Pharmaceutics International, Inc was founded in 1994, purchased by a private equity consortium including Signet Healthcare in 2016, and is an industry leader in contract pharmaceutics development and manufacturing

Strong Market Fundamentals - The I-83 Corridor is one of the most stable markets in the Baltimore Metro; a strong tenant base is comprised of corporate headquarters and operations centers.

Below Replacement Cost - The rent is being set in line with low finish small bay industrial and single story office product to ensure the long term basis in the property maintains a reasonable level.