Cash Flowing Industrial
F Street is a specialized industrial real estate firm. We acquire below replacement cost, structure for downside protection, and give accredited investors access to institutional-quality deals — before they reach the broader market.
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For accredited investors only.
F Street?
F Street is a vertically integrated alternative real estate firm specializing in industrial acquisitions, development, and lending. We source off-market and value-add opportunities, underwrite conservatively, and structure deals that put investor capital first — with a waterfall that pays your preferred return before any sponsor promote. The Waverly acquisition is a direct expression of our approach: a below-replacement-cost industrial asset in a submarket at the beginning of a generational economic shift.
A Value-Add Industrial Play
With Three Exits Built In
F Street is acquiring a 329,730 SF industrial building in Waverly, Ohio at a fraction of its replacement cost. The deal is anchored by an immediate NNN sale-leaseback — generating cash flow from day one — while we pursue three well-capitalized paths to value creation and investor liquidity.
Sale-Leaseback Anchor
Valleywood Cabinetry enters a 2-year NNN lease at closing at $2.00/SF — $55,000/month. One full year of rent is escrowed and drawn by F Street starting Month 13, backstopping preferred return distributions regardless of what the tenant does in Year 2.
Backfill at Market Rents
After year one, F Street can reclaim up to 120,000 SF with 90 days' notice to attract new industrial tenants at NNN market rates near $3.50/SF. Over $800K in reserves are built up by lease expiration to cover any gap without touching investor distributions.
Owner-User Sale
The asset is positioned for a direct sale to an industrial owner-user at $30–$40/SF — well above acquisition basis. The nearby $10B Centrus and Trillium investments are creating immediate, tangible demand for industrial space in Pike County.
Every Path Projects
Double-Digit IRRs
All return projections are derived from current market intelligence and consultations with regional brokers. Every scenario is underwritten conservatively and stress-tested with generous reserves.
"We don't need everything to go right. Every scenario returns capital with a strong multiple."
Structured for
Downside Protection
Every element of this deal is designed to mitigate risk — from the acquisition price to the debt structure to the reserves — so investors have multiple credible paths to a successful outcome, not a single bet.
Acquired Below Replacement Cost
At roughly $19.50/SF versus a $70+/SF replacement cost, we enter this deal with over 70% structural margin before a single operational decision is made. That gap is protection, not speculation.
Cash Flow Secured From Day One
The NNN lease starts at closing. Valleywood Cabinetry has escrowed one full year of rent — drawn by F Street starting Month 13 — ensuring investor preferred returns are met regardless of tenant performance in Year 2.
$10B Regional Demand Catalyst
Centrus Energy's uranium enrichment expansion in Piketon and Trillium's $1.8B clean commodities hub — less than 5 miles south — are expected to generate thousands of jobs and a step-change in industrial demand in the region.
$1M+ Reserved Against Vacancy
Over $1,000,000 in operating, CapEx, and leasing reserves sit inside the capital stack — covering 12+ months of debt service and operating expenses during any backfill or lease-up period.
Functional Asset for Multiple Users
The 329,730 SF building is in strong condition and easily demisable — suitable for light manufacturing, automotive, distribution, government, and energy-related uses. The tenant pool is deliberately wide.
Interest-Only Debt Preserves Cash
A 24-month IO period at 6.25% (70% LTC, $4.5M loan) keeps monthly debt service at $23,438 — maximizing distributable cash flow and reserve accumulation during the critical first two years.
Investors First.
F Street Second.
Step 1 — 7% Preferred ReturnClass A investors receive a 7% preferred return on all outstanding capital before any other distribution is made. F Street pays preferred returns in full throughout the first two years while Valleywood Cabinetry is in occupancy.
Step 2 — Return of Capital100% of all free cash flow is directed to Class A investors until their full initial capital contribution is returned. F Street receives zero promote during this phase. Investors are made whole before the split begins.
Step 3 — 50/50 Upside SplitAfter full capital return and all accrued preferred returns, remaining proceeds split 50% Class A / 50% Class B (F Street). The $3.5M equity raise represents 50% of F Street Waverly, LLC.
Scott Lurie
Scott Lurie founded F Street as a vertically integrated real estate investment firm focused on alternative and industrial real estate. Under his leadership, F Street has built a portfolio of 20 industrial assets across 4,446,560 SF and $271 million in total value — including 6 ground-up developments in active construction.
Scott sources and underwrites every deal against strict criteria: low basis, strong cash flow, and multiple exits. The Waverly acquisition reflects that discipline — a below-replacement-cost industrial asset in a submarket on the verge of a generational economic shift.
Scott Lurie will serve as Manager of F Street Waverly, LLC.
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Minimum investment: $50,000. Investor funds due May 1, 2026. Acquisition closing May 8, 2026. First distribution May 29, 2026. Available to accredited investors only under Reg D 506(c).
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This page is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any securities. This investment opportunity is available exclusively to accredited investors as defined under SEC Regulation D, Rule 506(c). Investing in private real estate involves significant risk, including possible loss of principal. Past performance is not indicative of future results. Projected returns, IRRs, and equity multiples are forward-looking statements based on assumptions that may not materialize. Please review all offering documents — including the Operating Agreement and Subscription Agreement — carefully before investing. F Street is not a registered investment advisor. Consult a qualified financial or tax professional before making any investment decision.