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Midwest Industrial Development

Midwest Industrial Development

In a joint venture with a Minnesota-based developer, Sundance Bay pursued the development of a speculative class A industrial portfolio in December 2021. The sponsor was a premier developer and market leader in industrial development in the Midwest. The market vacancy for each location is less than 4%, and the projected rent growth will be >6% over the investment timeline.

Project Specs

Investment Date

December 2021

Investment Timeline

24 Months

Property Type

Ground Up Industrial Development

Investment Summary

Total Cost


Equity Investment




Exit Cap Rate

Tenant in Tow

Investment Returns

Projected Equity Multiple

1.50x – 1.60x

Realized Equity Multiple

Projected IRR

24% - 27%

Realized IRR

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