{"id":2467,"date":"2023-12-06T14:56:18","date_gmt":"2023-12-06T14:56:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/blog\/?p=2467"},"modified":"2023-12-07T15:00:54","modified_gmt":"2023-12-07T15:00:54","slug":"cove-capital-richlands-va-industrial-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/blog\/cove-capital-richlands-va-industrial-property\/","title":{"rendered":"Cove Capital Offers New Richlands, Va., Distribution Center as Delaware Statutory Trust"},"content":{"rendered":"

Cove Capital \u2014 a California-based Delaware Statutory Trust (DST) sponsor \u2014 recently announced the acquisition of a newly constructed industrial property in Richlands, Va. The property is a distribution center that Cove Capital will offer as a DST called the Net Lease Distribution 66 DST.<\/p>\n

The property, which was completed in 2023, is fully leased to Frito-Lay\/Pepsico with a 10-year net lease. Strategically located adjacent to Highway 460 in Richland, the facility offers direct transportation to surrounding locations, including Charlotte, N.C.; Knoxville, Tenn.; and Lexington, Ky.<\/p>\n

The DST sponsor acquired the property with 0% leverage \u2014 a good choice for investors that want to mitigate risks such as lender foreclosures. As a DST, the property is not only an option for smaller investors that want to own a share of investment-grade commercial real estate, but it\u2019s also a potential replacement property for those who want to defer their capital gains taxes through a 1031 tax-deferred exchange. Cove aims to raise approximately $3.8 million in equity from accredited investors with a minimum investment of $50,000.<\/p>\n

\u201cThe newly constructed distribution warehouse maintains the ability to further expand the facility with additional square footage in the future, making this property an ideal target for the DST offering,\u201d said Dwight Kay, managing member and founding partner of Cove Capital Investments.<\/p>\n

\u201cOur Cove Acquisitions Team identified this property as an excellent addition to our Cove portfolio,\u201d said Cove Capital Managing Member and Founding Partner, Chay Lapin. \u201cIn addition to the long-term lease and favorable location, this building is brand new with high-quality construction.\u201d<\/p>\n

Cove Capital is a DST sponsor company with a robust inventory of DST and private equity real estate offerings. Specifically, it sponsors or co-sponsors the syndication of more than 1.9 million square feet of properties in multifamily, net lease, industrial and office industries. Quality tenants in other Cove Capital-sponsored DST properties include FedEx, Walgreens, Amazon and more.<\/p>\n

Check out the following links to browse industrial properties in some of the most competitive markets in the U.S.:<\/em><\/p>\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t
Industrial space in Dallas<\/a><\/td>Industrial space in Columbus<\/a><\/td>Industrial space in Nashville<\/a><\/td>\n<\/tr>\n
Industrial space in Phoenix<\/a><\/td>Industrial space in Indianapolis<\/a><\/td>Industrial space in Baltimore<\/a><\/td>\n<\/tr>\n
Industrial space in Chicago<\/a><\/td>Industrial space in Denver<\/a><\/td>Industrial space in Boston<\/a><\/td>\n<\/tr>\n
Industrial space in Houston<\/a><\/td>Industrial space in Seattle<\/a><\/td>Industrial space in Los Angeles<\/a><\/td>\n<\/tr>\n
Industrial space in Philadelphia<\/a><\/td>Industrial space in Atlanta<\/a><\/td>Industrial space in Cleveland<\/a><\/td>\n<\/tr>\n
Industrial space in Charlotte<\/a><\/td>Industrial space in Cincinnati<\/a><\/td>Industrial space in Portland<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n","protected":false},"excerpt":{"rendered":"

Delaware Statutory Trust sponsor Cove Capital announced the acquisition of an industrial property in Richlands, Va. The property is brand new, being completed in 2023, and is fully occupied by a quality tenant with a 10-year net lease.<\/p>\n","protected":false},"author":71,"featured_media":101,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial-real-estate-news"],"acf":[],"yoast_head":"\nCove Capital Acquires New Industrial Property in Richlands, VA<\/title>\n<meta name=\"description\" content=\"The property \u2014 a Frito-Lay\/PepsiCo-occupied distribution center \u2014 will be offered to investors as a Delaware Statutory Trust (DST).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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