Ultimate acquired 1408 Hamlin Ave, a 50,900 square foot Small- Bay Industrial facility in Fort Meyers, Florida which is a submarket of Orange County. It sits on 3.7 acres and is in close proximity to US-192. The property is comprised of 2 fully occupied buildings which at the time of acquisition were leased at approximately 70% of market value and a WALT of 12 months. The acquisition was made at a discount of 10% to replacement cost. Within 6 months Ultimate has repositioned many of the 25 units at market rent, slightly above projections.