Top1031

1201 Industrial

Industrial in North Kansas City, MO — sponsored by SR Realty Trust

Files with the SEC as SRRT 1201 Industrial DST

Minimum investment
$500k
Offering size
$17.2M
How much has sold
21.0%
Asset type
Industrial
Location
North Kansas City, MO
Financing
All cash. This offering reports no mortgage debt.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

SRRT 1201 Industrial DST is a Delaware statutory trust — fractional, passive real estate ownership that can qualify for 1031 exchange treatment — holding two adjoining industrial properties in North Kansas City, Missouri.1 The larger building is a warehouse leased to Wagner Industries; the smaller Quebec Street parcel is a United Rentals facility. The Trust is raising from accredited investors, buyers who meet SEC income or net-worth tests.

1201 Industrial image 1 of 2

Sponsor SR Realty Trust (Schafer Richardson); tenants Wagner, United, Lamar; min $500k; $3.6M/$17.2M sold (7/2025)

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These links support the public record as a whole; individual details may come from different sources.

City-level mapNorth Kansas City, MO metroCity-level location. Exact address not publicly confirmed.

On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.

Chapter 2

What exactly is the property?

The Trust acquired the two adjoining parcels on May 22, 2025 from Wagner Industries, LLC for $29,500,000, holding title through a wholly owned subsidiary, SRRT 1201 Industrial, LLC.1 The seller stayed on as tenant of the large warehouse under a lease effective the same day — in substance a sale-leaseback.2 Schafer Richardson announced the closing on June 11, 2025 as a $32.9 million Kansas City industrial portfolio.

Property address
1110 Quebec Street; 1201 E 12th Avenue, North Kansas City, MO
Property size
~500,000 SF industrial building plus adjacent United Rentals facility and ~12 acres of excess land
Chapter 3

Who is the tenant, and what's the lease?

Wagner Industries occupies the large warehouse under a 120-month base term effective May 22, 2025, with four successive 60-month renewal options, leased from affiliate master tenant 1201 Industrial MT, LLC.2 United Rentals' Quebec Street lease runs through March 31, 2029, with two additional five-year options.3 Wagner also leases a billboard location at the site to The Lamar Companies.4

Chapter 4

How are sales going?

These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.

How we work out how much has sold

We divide the amount the sponsor reports sold by the offering size in its latest SEC filing, filed Jul 16, 2025.

  • The sponsor reports these amounts itself, and can amend them later.
  • A filing can be behind what has actually sold. It does not confirm that interests are still available.
  • The amount left to sell is the offering size minus the amount sold.
21.0% reported sold
Amount sold
$3,643,581
Still available
$13,586,419
Investors reported
1
Total offering
$17,230,000
Not enough filings yet to show a trend.
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Chapter 5

How is it financed, and what does it pay?

This is a leveraged Trust rather than an all-cash one: the property-owning subsidiary borrowed from Bridgewater Bank under a May 22, 2025 loan secured by a first-priority mortgage on the property, with payments interest-only in the early years before principal amortization begins.5

Chapter 7

What does the paperwork say?

The Form D on record is an original notice — the brief filing an issuer makes with the SEC after its first sale, not a later amendment — and it reports a first sale on June 13, 2025.7 Its Rule 506(c) exemption permits public advertising provided the sponsor verifies that every buyer is an accredited investor.

  1. Form D filedFirst and latest filing on record.
Filings on record
1
How it may be offered
Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.

DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.

Chapter 8

Common questions

Is 1201 Industrial still raising money?

Top1031 lists 1201 Industrial as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.

Where does Top1031 get the data for 1201 Industrial?

Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.

What does this Trust actually own?

Two adjoining industrial parcels in North Kansas City, Missouri. The private placement memorandum (the PPM, the sponsor's main disclosure document) describes approximately 34.60 acres with 483,725 square feet of improvements at 1201 East 12th Avenue and approximately 3.62 acres with 16,287 square feet at 1110 Quebec Street. The Trust holds legal title through a wholly owned subsidiary, SRRT 1201 Industrial, LLC; investors hold beneficial interests in the Delaware statutory trust rather than a deed.

Who are the tenants, and how long do the leases run?

Wagner Industries, LLC leases 483,725 rentable square feet at 1201 E 12th Avenue under a lease effective May 22, 2025 with a 120-month base term and four successive 60-month renewal options; the PPM reports an anticipated lease expiration of May 31, 2035 and 3% annual rent increases beginning on the second anniversary of commencement. The 1110 Quebec Street lease with United Rentals was amended effective March 22, 2024 and runs through March 31, 2029, with two additional five-year renewal options. Wagner separately leases a Clay County billboard location to The Lamar Companies.

Is there debt on the property, and on what terms?

Yes. SRRT 1201 Industrial, LLC borrowed $15,750,000 from Bridgewater Bank under a loan dated May 22, 2025, secured by a first-priority mortgage against the property. SR Realty Trust's PPM describes an approximately ten-year term with interest-only payments for the first five years, followed by principal and interest, at a fixed annual rate the PPM states as 6.21%. Loan balances and terms change; the executed loan documents and the current PPM govern.

How big is the offering, and what is the minimum investment?

The Form D filed with the SEC on July 16, 2025 reports a $17,230,000 offering of beneficial interests with a $500,000 minimum investment and a first sale on June 13, 2025, offered under Rule 506(c) — the private-placement exemption that allows general advertising if the sponsor verifies each purchaser's accredited status. Form D figures are a snapshot as of the filing date and are not reviewed by the SEC for accuracy.

Has anything notable happened since the acquisition?

The Greater Kansas City Chamber of Commerce reported that Wagner Logistics is marking its 80th anniversary with a commemorative open house scheduled for September 2, 2026 at its corporate offices at 1201 E. 12th Avenue — the address of the Trust's larger building. SR Realty Trust disclosed that it sold a portion of its own investment in the Trust during the third quarter of 2025 for $1.99 million in cash and retained 67% afterward. Research through September 1, 2026 identified no primary record of default, foreclosure, litigation or casualty, and no Form D amendment after July 16, 2025.

Could this Trust roll into a REIT at the end?

SR Realty Trust's overview brochure lists 721 UPREIT exit potential — the structure in which a DST's property is contributed to a real estate investment trust's operating partnership for units instead of being sold for cash. Nothing in the SEC filing record here establishes such a conversion, and Top1031's data does not flag one for this Trust. Any exit path and conversion rights are governed by the private placement memorandum and trust agreement.

Chapter 9

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