Mohr Capital, a Dallas-based privately held real estate investment firm, has completed a 200,000-square-foot office and warehouse facility with 23 acres of concrete storage capacity for GAF Materials Corporation (GAF) in Michigan City, Indiana.
Located at 130 Tri Quad Drive, Michigan City, Indiana, GAF's mission-critical facility will serve as a distribution network for roofing products. GAF is North America's largest roofing and waterproofing manufacturer and a subsidiary of Standard Industries, a global company focused on building materials. The company also maintains a shingle manufacturing plant in the city.
"With this facility, GAF has expanded its presence in Michigan City and contributed to the strength of the local economy," said Gary Horn, chief development officer at Mohr Capital. "Moreover, the completion of this project represents another successful partnership between Mohr Capital and GAF, adding to our growing industrial development portfolio."
Construction of the GAF facility began in January 2020, with an expected construction schedule of 12 months. The facility was completed ahead of schedule and on budget by the end of November.
"We're proud to partner with GAF to expand its presence in Michigan City," said Bob Mohr, chairman of Mohr Capital. "Mohr Capital's development arm leverages its own capital and long-standing debt relationships to take on projects like this one and deliver it to companies in a quick, cost-effective manner."
GAF Operations Director Matt Hannon and Senior Process Engineer Chris "Stump" Engibous oversaw the project. Larson Danielson was the general contractor. Bank of Texas provided financial support for the construction. Mike Maratea, real estate counsel for Standard Industries, and Gary Horn negotiated the ground lease and lease agreement.
To date in 2020, Mohr Capital has completed ten transactions in Texas, Arizona, Indiana, California and Florida valued at $200 million, with more acquisitions scheduled to close before the end of the year.