MICHIGAN CITY — Mohr Capital, a Dallas-based privately held real estate investment firm, has broken ground on a 200,000-square-foot office and warehouse facility with 23 acres of concrete storage capacity for GAF Materials Corporation, a subsidiary of Standard Industries, in Michigan City.
The site is expected to be completed in December 2020 by contracted crews from Larson-Danielson Construction in La Porte.
“Having recently completed a similar project for GAF in Ennis, Texas, we’re able to apply those insights to this Michigan City project,” said Gary Horn, chief investment officer at Mohr Capital. “We worked closely with John Maintner, chief financial officer at GAF, to get this project off the ground and look forward to continuing to work with him and the GAF team on this and future projects.”
The Michigan City project is being overseen by Matt Hannon, GAF operations director, and Chris “Stump” Engibous, GAF senior process engineer. Bank of Texas provided financial support for the project.
Horn and Mike Maratea, Real Estate Counsel for Standard Industries, negotiated the ground lease and lease agreement ahead of the project breaking ground. “Mike was a pleasure to work with, and we appreciate his efforts in finalizing this deal,” said Horn.
According to Mohr Capital, the company is a privately held real estate investment firm specializing in the acquisition, development and value enhancement of office, retail and industrial assets throughout the U.S. Mohr Capital said its team has decades of experience in commercial real estate and has completed more than $1 billion in transactions. Mohr said it relies on strong, long-term relationships and possesses keen market insights needed to capitalize on undervalued or underperforming properties.