Strategy
Magellan has acquired older (Class B and Class C) industrial assets in prime industrial markets in California, with a particular focus on Southern California. Magellan utilizes one or more of the following strategies to enhance the value of such assets:
- Repositioning: This strategy involves repositioning industrial or manufacturing properties into more functional, attractive and ultimately more leaseable/sellable industrial assets.
- Conversion: This strategy is focused on older and/or functionally obsolete manufacturing plants which present opportunities for a conversion to a higher and better use. The Magellan Group has had considerable success redeveloping such properties to other industrial uses such as distribution centers and warehouses, as well as to non-industrial uses such as self-storage.
- Leasing: This strategy is focused on acquiring assets that have existing vacancies or pending tenant lease expirations, or acquiring well-located assets at a discount due to the credit status of the tenant.
- Redevelopment: This strategy is focused on ground up development or increasing density on underutilized land.