Becknell Industrial has launched Becknell Industrial Income Trust, Inc. (BIIT), a private, perpetual-life industrial income REIT targeting stabilized, income-producing logistics and light manufacturing assets across the U.S.  

The vertically integrated firm, which specializes in the acquisition, development, management and disposition of industrial properties, is pitching the vehicle as a way to capitalize on a favorable imbalance between muted new supply and rising tenant demand. 

The Becknell team believes that a pullback in new industrial construction, combined with e-commerce growth and the reshoring of manufacturing to the U.S., “provide an attractive entry point for investors.” BIIT will have access to Becknell’s existing portfolio of wholly owned industrial assets that align with the fund’s strategy. “We intend to own and actively manage a diversified portfolio of stable, income-producing industrial assets in mission-critical locations throughout the U.S.,” Clay Thelen, CFO at Becknell Industrial, told Connect Money. 

Additional acquisitions will be sourced largely from Becknell’s build-to-suit development pipeline and stabilized development projects, with tenants expected to include leading companies with strong credit profiles and long-term leases in the distribution and light manufacturing sectors.  

“This fund is focused on three investment objectives: To preserve and protect shareholder capital, to realize appreciation in our stabilized asset value and to realize appreciation in our stabilized asset value,” Thelen added. 

Chicago-based Becknell has acquired or developed more than 225 industrial properties totaling over 40 million square feet, with total capitalization just under $4 billion.