CAI Investments Acquires 157,000 +/- Square-Foot Industrial/Office Building in Daytona Beach, Florida

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Feb 12, 2019, 10:00 ET

DAYTONA BEACH, Fla., Feb. 12, 2019 /PRNewswire/ -- CAI Investments, LLC, a leading developer and manager of properties in key markets across the United States, announced today they have acquired an approximately 157,000-square-foot industrial and office building in Daytona Beach, Florida.

The property is leased on a net lease basis through September 2032 to New Media Holdings, LLC, a holding company of New Media Investment Group Inc. The Daytona Beach News-Journal, part of the New Media family, currently occupies the space.

New Media Investment Group is one of the largest publishers of locally based print and online media in the United States as measured by number of publications.

"This acquisition fits in well with our overall strategy to find well located properties with strong tenants in growing communities," said Christopher Beavor, CEO and founder of CAI Investments. "In addition, the property is located in a federally designated opportunity zone, which can be advantageous to the client and owner."

The Daytona Beach News-Journal has been serving Volusia and Flagler counties as the local daily newspaper since 1883. It is one of the largest employers in the area.

About CAI Investments
Headquartered in Las Vegas, Nevada, CAI Investments, LLC is a vertically integrated real estate development company that finances, develops and manages commercial properties in key markets across the United States.

For more information on CAI Investments, please visit www.caicap.com, or contact [email protected].