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No Debt Fund II
Launched in 2005, the No Debt Real Estate Investment Fund II is a well diversified portfolio of industrial and retail properties in Texas and the Midwest. Similar in structure to Fund I, Fund II is focused on capital preservation and consistent income generation and always pays its investors first. Fund II was closed to new investment in January 2007.
Airport, Omaha
Top1102-1322 E. Hartman Avenue, Omaha, NE
Known as the Airport Commerce Center, this 65,101 square foot multi-tenant industrial property is located adjacent to Omaha's Eppley Airport. Fund II acquired Airport Commerce Center at an above market capitalization ratio and should benefit from the limited supply of quality industrial properties in the Omaha market.
Corporate Center, Kansas City
TopCorporate Center I
Corporate Center is a 59,699 square foot multi-purpose industrial flex building located in Mitchell Woods Business Park in St. Joseph, MO, just north of Kansas City. The property has an open layout, with 9'x10' dock doors, 18' ceilings, tilt-up construction, a metal roof with 32 years of useful life remaining, and fiber optics. The property is well located adjacent to I-29 with five tenant spaces.
Commerce Drive, Chicago
TopWoodfield Business Center
165 E. Commerce is a 33,500 square foot industrial flex building located in Schaumburg, Illinois. The two story building was constructed in 1986, is situated on 1.9067 acres and is of good quality construction with a new roof installed in 2005.
Crestside, Dallas
Top1203 Crestside Drive, Coppell, TX
Known as the Crestside Business Center, this 46,364 square foot industrial building is located approximately seven miles from Dallas-Fort Worth International Airport in the town of Coppell, a suburb of Dallas. Built in 1986, the building features eleven separate tenant units that can be easily combined for larger tenants. Constructed on a 2.94 acre site, the building features tilt wall construction with clear ceiling heights of 16 feet. 1203 Crestside Drive has excellent access to LBJ Freeway (Interstate 635) and State Highway 114, both major transportation thoroughfares in the Dallas Fort Worth Metroplex.
This was the first acquisition completed for the No Debt Real Estate Investment Fund II and was purchased directly from the seller. Because of the Sponsor's strong local network and the fact that it has recently purchased another property from the seller (Regal Row for the No Debt Real Estate Investment Fund I), the Sponsor was presented the opportunity to purchase the property before it was listed publicly for sale.
Holste, Chicago
TopNorthbrook Industrial Center
The Northbrook Industrial Center is a 95,093 SF office/warehouse/light industrial facility comprised of two inter-connected buildings located in one of Chicago's most vibrant, affluent suburbs. The buildings are of masonry construction, built on a concrete slab foundation with steel frames and a flat roof. There are three enclosed docks, and five 14' overhead dock doors. The property has three tenant spaces.
Meadow Mart, Chicago
Top6401 N. 2nd Street, Loves Park, IL
Known as the Meadow Mart Center, this 158,723 square feet property is located in Loves Park, IL, eighty miles northwest of Chicago in the greater Rockford, IL community.
Meadow Mart offers a diverse range of specialty goods, dining, and services with many tenants that have been located at the center for 10 years or more. Meadow Mart was developed in 1954 and renovated in 1994 and features excellent physical attributes, including high quality construction, attractive facades, and well-kept landscaping.
The center enjoys a prime location along the retail corridor in the Rockford/Loves Park area and enjoys exceptional visibility given its wide-open layout with over 1000 feet of frontage along a highly traveled thoroughfare.
West State, Kansas City
Top7523 State Avenue, Kansas City, KS
Known as the West State Plaza, this 93,973 square feet property is located in Kansas City, KS. The center is well located 10 minutes west of downtown off I-70 on the busy State Avenue retail corridor leading to the regions newly developed NASCAR race track. West State was constructed in 1985 and is in good physical condition with a new roof installed in May 2005. The West State Plaza shopping center adds geographic and cash flow diversity to the No Debt Real Estate Investment Fund II.