Smith & Oby Sale-Leaseback

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the Smith & Oby Two-Property Sale-Leaseback Portfolio (“Portfolio” or “Properties”). The Portfolio consists of two mission-critical industrial assets totaling 69,084 SF as well as an adjacent parcel for a planned expansion of the Walton Hills site of ~8,000 SF. At closing, the Portfolio will be 100% absolute triple-net leased to Smith & Oby and DSO Mechanical, LLC, (collectively, the “Tenant”), a leading provider of HVAC and plumbing mechanical contractor and services.

Smith & Oby is owned by McNally Capital, a leading middle market private equity investment firm with 7 active portfolio companies and a focus on partnering with family and founder owned manufacturing, service, and aerospace & defense companies.

OH: Bill Poffenberger - License#: OH-352247

WV: Dan Adamski - License#: WV-WV0028471

·        Long-term absolute NNN master lease structure with annual increases

·        One of the premier mechanical contractors in both Northeast Ohio and the Greater Charleston, West Virginia area.  The company has had success in expanding its market share and consistently growing revenue

·        Mission-critical assets generating the ALL of Tenant's revenues and EBITDA

·        Robust corporate EBITDA to rent coverage of over 19x

·        Highly fragmented industry and demand within the industry experienced consistent growth for the majority of the previous 5 years

·        Exceptional sponsorship in McNally Capital