Johnson Controls Innovation Center

Top1031 lists Johnson Controls Innovation Center as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.

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.

Johnson Controls, Inc. occupies the entire building, according to Syndicated Equities' property page. Baker 1031, summarizing the offering material, describes a 15-year triple-net lease commencing October 2024 and expiring September 2039, with annual rent escalations and three five-year renewal options at 95% of market, and identifies the contractual obligor as Johnson Controls, Inc. — the operating company — rather than parent Johnson Controls International plc, which Baker says does not guarantee the lease. Those terms are sponsor-reported; no lease instrument appears in the public record, so confirm them in the Private Placement Memorandum (the offering's controlling disclosure document) and in the lease itself.

Yes, according to sponsor-reported material. Baker 1031's offering page reports total capitalization of $49,488,000 — $22,230,000 of equity and $27,258,000 of debt — and an in-place loan-to-value ratio of 55.08%. A Form D discloses only the equity being sold, not debt, and the lender, interest rate and amortization schedule are not part of the SEC record for this Trust, so request the loan documents and read the debt section of the PPM.

Johnson Controls said in May 2023 that it would lease the property from owner and developer Weas Development, with construction expected to finish in late 2024, and the company opened the Warren Johnson Engineering Lab on October 28, 2024. BizTimes reported on April 22, 2026 that the two-story building at 2022 W. Florist Avenue sold for $45.4 million to a Chicago-based real estate investment firm it did not name. Top1031 pipeline data records the purchase from Weas Development closing in April 2026.

Top1031 records the Trust as raising, based on its Form D filed April 22, 2026, which reported a $1,000 minimum investment and a $22,230,000 total offering amount. One third-party page — Baker 1031, dated June 8, 2026 — lists the offering as closed with no equity available. No amendment or later issuer filing appears on the SEC record as of September 5, 2026, and a Form D is a snapshot rather than a running tally, so confirm current availability with the sponsor or your broker-dealer before naming this property on a 45-day clock.

Johnson Controls reported third-quarter results on July 29, 2026 showing 9% sales growth, 27% organic order growth and a record $21.0 billion backlog, and it raised its fiscal 2026 guidance. Those are company-wide figures and say nothing directly about rent or occupancy at the Glendale building. A Milwaukee Business Journal report dated July 30, 2026 mentioned the Glendale Innovation Center and Warren Johnson Engineering Lab in its coverage of the quarter, and a company release the same day noted interns touring the lab.

Nothing in the public record points to a 721 or UPREIT exit — the structure in which a DST's property is contributed to a REIT in exchange for operating-partnership units. Top1031 records this Trust as not converting to a REIT. Exit mechanics, including sale timing and any rollover rights, are governed by the PPM and the trust agreement, so read both before assuming any particular ending.