Modiv Industrial, Inc. Overview
Pro stress-test →Modiv Industrial is an internally-managed Maryland corporation that acquires, owns and manages a portfolio of single-tenant net-lease properties throughout the United States, with a focus on critical industrial manufacturing properties with long-term leases. The company manages a 42-property, 4.4M sq ft REIT portfolio with $39.1M annual base rent and 98% occupancy.
Strategic Profile
Pro stress-test →Modiv owns three non-core, legacy retail and office real estate properties and is gradually reducing its non-core exposure to further its focus as a pure-play industrial manufacturing REIT. Management plans to recycle $150M in legacy assets for accretive redeployment while maintaining a strong balance sheet and fixed-rate debt.
Competitive Landscape
Pro stress-test →Modiv competes with other single-tenant net-lease REITs focused on industrial properties. Key competitors include Global Net Lease (GNL), which entered a definitive merger agreement to acquire Modiv in an all-stock transaction, along with other diversified industrial REITs in the net-lease sector.
Industry Context
Modiv Industrial, Inc. operates in Industrial Net-Lease REITs.
Key facts
Founded: 2015 · Headquarters: Denver, US · Revenue: $11.8M · Market cap: $173M