1201 Industrial

Property and location

SRRT 1201 Industrial DST holds two adjoining industrial parcels at 1201 E 12th Avenue and 1110 Quebec Street in North Kansas City, Missouri, acquired May 22, 2025 from Wagner Industries, LLC for an aggregate $29,500,000 ¹. The 12th Avenue parcel is an approximately 483,725-square-foot truck-terminal facility on about 34.60 acres, built in 1950 and renovated in 2000, with 24-foot clear height and M-2 zoning; CBRE appraised the leased-fee interest at $28,000,000 as of May 2, 2025 ³.

Leases

Wagner Industries leases the 12th Avenue parcel under a 10-year absolute-net sale-leaseback with initial annual base rent of $1,934,900 ($4.00/SF), escalating 3% per year from lease year two, plus four successive five-year renewal options at fair market rent ¹. The Quebec Street parcel includes an approximately 16,287-square-foot building leased to United Rentals Realty, LLC at $236,850 per year through March 31, 2029, and a Lamar Companies billboard at $21,000 per year through November 30, 2026 ¹. A master tenant wholly owned by the initial beneficiary, a Schafer Richardson affiliate, pays the trust $2,100,000 in initial annual base rent with 1% escalators, assuming the underlying tenant rents and operating expenses ¹.

Capitalization

The acquisition was funded with a $15,750,000 senior loan from Bridgewater Bank — 10-year term, 6.21% fixed, interest-only for five years then amortizing — plus the initial beneficiary's equity contribution ². The trust-level offering is capped at $17,230,000 of beneficial interests, with an estimated total investor cost of approximately $32,980,000 inclusive of fees, reserves, and formation expenses ². A Form D notice filed July 16, 2025 reported $17,230,000 offered and $3,643,581 sold as of that date ⁴.