WESTPORT OFFERING TERMS
On behalf of McDonald Development Company (“Owner”), JLL is pleased to offer Westport to the marketplace for either capital investment or outright purchase of the entire 247 acres in its current condition on an “as is” basis. A capital investor will submit its offer with the understanding that Owner will continue to serve as the developer of the park. Alternatively, outright purchase of the park is available on an all-cash basis.
It is intended that this Offering Memorandum “OM” provides the potential investor or developer with sufficient property and market information that an informed decision can be made. In addition to this OM, more information is available regarding soil conditions and the existing Phase I environmental review. This additional information will be provided following execution of a non-disclosure agreement between the parties. There is no listed price. A purchaser should make its offer on a bid basis. Owner will consider all offers at the time they are submitted during this marketing process. In order to maintain a structured process, a proposed schedule is described below. A purchase offer can be made in advance of the dates being proposed and Owner will respond accordingly in a timely manner. In addition to price, earnest money, due diligence and closing, the offer should include information about the prospective purchaser, including the size of their current industrial portfolio and recent acquisitions; and also provide commentary about the source of both equity and debt for the proposed transaction. |
Alternatively, an investor seeking to structure a venture with Owner will meet with Owner in order to discuss parameters for the proposed partnership. A schedule for submitting a written proposal will be established at this meeting. We encourage potential investors who are interested in this opportunity to engage Owner as early as possible in this process.
Owner will select the investor or developer purchaser in Owner's sole discretion based upon the offering price, the additional terms that are proposed such as earnest money deposit, and the timing of the due diligence and closing. |