Ashley Capital LLC
Ashley Capital LLC is a privately-held industrial real estate investment and development firm founded in 1984, operating a 33+ million square foot portfolio of industrial and office properties across 20 eastern U.S. markets, serving enterprise tenants in logistics, manufacturing, and distribution with specialized brownfield redevelopment expertise.
- Company typePrivate
- Founded1984
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Ashley Capital LLC does
Ashley Capital LLC is a privately-held industrial real estate investment and development company founded in 1984 by Paul D. Rubacha and Richard A. Morton, both formerly of Goldman Sachs, Citibank, and Prudential Insurance. The firm acquires, develops, redevelops, manages, and leases industrial and office properties, specializing in brownfield redevelopment of contaminated sites (over 900 acres completed) and value-add acquisition of underperforming industrial assets. Its portfolio comprises approximately 33 million square feet across 100+ properties in 20 markets concentrated in the eastern United States, with operational offices in New York, Michigan, Illinois, Georgia, and Florida.
The company's revenue model is built on long-term commercial real estate rental income collected from enterprise tenants under multi-year leases, with quote-based pricing and minimum investment criteria of $3 million per transaction and 200,000+ SF for industrial acquisitions. It pursues a sales-led go-to-market targeting manufacturing, logistics, warehousing, and distribution firms, including Fortune 500 companies such as Amazon, General Motors, Ford, FedEx, and DHL, supported by direct relationships and a broker network spanning CBRE, Cushman & Wakefield, JLL, and Colliers.
Recent activity indicates active development expansion: over 9 million SF completed since 2021 with an additional 1.2 million SF under construction as of late 2024, financed through diversified debt sources including Fifth Third Bank, KeyBank, Old National Bank, Northwestern Mutual, Securian Asset Management, and a 2025 Affinius Capital $90.4 million refinancing. Major pipeline projects include Flint Commerce Center (3.5 million SF planned on the former Buick City site in Michigan, $300 million+ investment, 3,000 jobs), South Hills Commerce Center (3.8 million SF planned in Wisconsin), and Georgia North Logistics Center (3.3 million SF planned), alongside a new solar rooftop partnership with APR Renewables.
Ashley Capital LLC firmographics
Firmographics- Name
- Ashley Capital LLC
- Legal name
- Ashley Capital LLC
- Website
- https://ashleycapital.com
- Company type
- Private
- Founded year
- 1984
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Ashley Capital LLC is a privately-held industrial real estate investment and development firm founded in 1984, operating a 33+ million square foot portfolio of industrial and office properties across 20 eastern U.S. markets, serving enterprise tenants in logistics, manufacturing, and distribution with specialized brownfield redevelopment expertise.
- Ownership category
- akta.pro rank
Ashley Capital LLC industry classification
Industry- Product category
- Industrial Real Estate Investment & Development
- NAICS
- Offices of Real Estate Agents and Brokers (5312), Offices of Real Estate Agents and Brokers (531210)
- SIC
- Real Estate (6500), Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532)
- akta.pro primary industry
- Commercial Real Estate Asset Management (BPAJAMAB)
- akta.pro secondary industries
- Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK), Real Estate Restructuring, Turnaround & Workout Advisory (Distressed Assets) (BPAJANAH), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)
Keywords
Where Ashley Capital LLC is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Ashley Capital LLC business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales
Revenue model
- Commercial Real Estate Rental Income: Ashley Capital generates revenue primarily through leasing industrial and office properties to tenants. The company develops, acquires, renovates, and manages industrial real estate properties, collecting rent from tenants under long-term lease agreements. Properties include warehouses, distribution centers, manufacturing facilities, and business parks.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Industrial Properties - Value-Add Acquisitions |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Ashley Capital LLC product offering
Product offeringCore offering
Ashley Capital acquires, develops, redevelops, manages, and leases industrial and office properties across the eastern United States. The firm specializes in opportunistic and value-add investments, including brownfield redevelopment of contaminated sites, with a current portfolio of approximately 33 million square feet across 100+ properties in 20+ markets.
Product overview
Ashley Capital LLC is a privately-held industrial real estate investment and development company offering a portfolio of commercial and industrial properties. The company operates as a single unified service offering centered on acquisition, development, redevelopment, property management, and leasing of industrial and office properties. Its portfolio includes over 42 properties totaling approximately 33 million square feet across the eastern United States, encompassing logistics centers, distribution facilities, commerce centers, and business parks in markets including Michigan, Georgia, Florida, Virginia, Wisconsin, Illinois, and Tennessee.
Differentiator
Problem solved
Functional benefit
Products and services
- Industrial Real Estate Investment Services End-to-end acquisition, development, redevelopment, property management, and leasing of industrial and office properties across the eastern United States. Targets manufacturing, logistics, warehousing, and distribution companies needing Class A facilities, with a portfolio of approximately 33 million SF across 100+ properties in 20+ markets.
- Virginia Gateway Logistics Center Class A warehouse and distribution facility in Prince George, VA. Originally an 800,000 SF Ace Hardware distribution center; the largest vacant building in the mid-Atlantic at acquisition.
- Livonia West Commerce Center 2 Industrial warehouse and distribution facility in Livonia, MI. Part of Ashley Capital's Livonia Corporate Center development on a former Ladbroke Race Track site, with tenants including DHL Supply Chain, FedEx, and Penske Logistics.
- Means Logistics Park 444,000 square foot industrial facility in Highland Park, MI. Fully occupied by Diversified Energy Company.
- Crossroads Distribution Center North Industrial distribution center in Van Buren Township, MI totaling over 2,200,000 square feet. Tenants include DSV Air & Sea (630,000 SF), FedEx, Our Next Energy, Service Electric Supply, TwinMed, and Penske Logistics.
- Enterprise Business Park Industrial business park in Racine County, WI. Part of Ashley Capital's portfolio expansion in southeastern Wisconsin.
- Georgia North Logistics Park Class A industrial logistics center in Adairsville, GA with over 2,200,000 square feet. Tenants include a Fortune 500 global aluminum packaging company (400,000 SF).
- I-895 Logistics Center 582,000 square foot warehouse and distribution facility in Richmond, VA, fully leased to ID Logistics Warehousing LLC and other tenants.
- Martin Commerce Park Class A commercial and industrial development in Martin County, FL with over 100 buildable acres for light industrial use.
- South Hills Commerce Center Industrial business park development in Caledonia, WI on 223 acres with planned 3.8 million square feet when fully developed. Formerly the South Hills Country Club site.
- Flint Commerce Center Industrial park on the former Buick City site in Flint, MI planned for 3.5 million square feet across 10 buildings. Tenants include Bunzl Distribution, Victory Packaging. Up to 3,000 permanent jobs expected from the development.
Quantifiable outcome
- 33+ million SF portfolio
- +2 more outcomes
Companies that use Ashley Capital LLC
Customer profileNamed customers32 records
Segments2 records
Ideal customer profiles2 records
Ashley Capital LLC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Ashley Capital LLC partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- CBREcoreMajor commercial real estate broker representing Ashley Capital in multiple property lease-ups including Crossroads Distribution Center North, I-895 Logistics Center, and arranging financing.
- Cushman & WakefieldcoreCommercial real estate broker representing Ashley Capital in multiple transactions including I-895 Logistics Center lease-up.
- Signature AssociatescoreRepresented Ashley Capital in successful lease-up of Flint Commerce Center and other Michigan properties.
- LaVista AssociatescoreRepresented Ashley Capital for leasing of Covington Logistics Park and other Georgia properties.
- JLL (Jones Lang LaSalle)coreRepresented Ashley Capital in Georgia North Logistics Park lease with global aluminum packaging company.
- CollierscoreRepresented Ashley Capital in Oak Brook office building purchase and other transactions.
- APR RenewablesminorAPR Renewables will develop and operate solar energy assets on rooftop spaces at Ashley Capital industrial parks under a pilot program starting at Delta Distribution Center in Lansing, Michigan. Has potential to become one of the largest solar rooftop portfolios in North America.
- RACER TrustcorePartnership for redevelopment of former Buick City site in Flint, Michigan. RACER Trust owns the contaminated property and Ashley Capital is developing it. Trust continues to assess and remediate environmental issues.
- Oliver/Hatcher ConstructioncoreGeneral Contractor for Means Logistics Park development in Highland Park, Michigan.
Scale indicators13 records
Recent moves6 records
Expansion highlights6 records
Ashley Capital LLC competitors and assessment
Company assessmentDirect peers
- STAG Industrial: Public industrial REIT focused on single-tenant net lease industrial properties across the US, with significant concentration in the Midwest and Southeast. Comparable to Ashley's single-tenant industrial exposure and focus on manufacturing/logistics tenants.
- EastGroup Properties: Public industrial REIT focused on Class A multi-tenant business distribution and light industrial properties in Sunbelt and high-growth US markets. Comparable in customer mix (logistics, distribution) and development orientation, with similar lease-up economics.
- Rexford Industrial Realty: Public industrial REIT focused on Southern California infill industrial real estate. Comparable in value-add acquisition and redevelopment strategy targeting supply-constrained markets, though geographically concentrated in SoCal versus Ashley's Eastern US footprint.
- First Industrial Realty Trust: Public industrial REIT focused on Class A bulk distribution, light industrial, and flex properties across major US markets including the Midwest, Southeast, and Mid-Atlantic. Closely comparable to Ashley in target customer (manufacturing, logistics, e-commerce), product type, and geographic focus.
- Terreno Realty Corporation: Public industrial REIT acquiring, developing, and operating industrial real estate in six major US coastal markets. Similar value-add acquisition strategy targeting infill, last-mile distribution facilities serving e-commerce and logistics tenants comparable to Ashley's portfolio.
- Hillwood: Privately-held industrial and commercial real estate developer (Perot family) operating across the US with large industrial parks and master-planned logistics developments. Comparable as a private peer in scale, customer base (Amazon, Fortune 500), and development orientation.
- Crow Holdings Industrial: Private industrial real estate investment and development firm operating across major US logistics markets. Comparable to Ashley in business model (acquisition, development, leasing), tenant profile (logistics, e-commerce, manufacturing), and geographic focus on infill Sunbelt/Midwest markets.
Broad incumbents
- Prologis: Largest global industrial REIT with hundreds of millions of SF, including significant holdings in the same Eastern US and Midwest logistics markets as Ashley Capital. Directly comparable in customer base (Amazon, FedEx, DHL) and large-format distribution product, though operates at vastly larger scale as a public REIT.
- Trammell Crow Company: Major diversified commercial real estate developer (CBRE-owned) with a substantial industrial development practice across the US. Comparable in large-format industrial development, tenant relationships with Fortune 500 users, and brownfield redevelopment capability.
Emerging players
- IDG (Industrial Development Group): Private industrial real estate developer focused on speculative and build-to-suit industrial facilities in select US markets. Comparable as a smaller private peer with similar value-add development approach and tenant base in logistics/distribution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Ashley Capital LLC social profiles
Digital presenceAshley Capital LLC financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ashley Capital LLC leadership team
Management profileNumber of profiles
Profiles13 records
Ashley Capital LLC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ashley Capital LLC M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ashley Capital LLC
What does Ashley Capital LLC do?
Ashley Capital acquires, develops, redevelops, manages, and leases industrial and office properties across the eastern United States. The firm specializes in opportunistic and value-add investments, including brownfield redevelopment of contaminated sites, with a current portfolio of approximately 33 million square feet across 100+ properties in 20+ markets.
Is Ashley Capital LLC a public or private company?
Ashley Capital LLC is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Ashley Capital LLC founded?
Ashley Capital LLC was founded in 1984. It employs 11 to 50 people.
Where is Ashley Capital LLC based?
Ashley Capital LLC is headquartered in New York, United States, in the North America region.
How does Ashley Capital LLC make money?
One revenue line is on record: commercial Real Estate Rental Income.
Who are Ashley Capital LLC's main competitors?
Direct peers on record are STAG Industrial, EastGroup Properties, Rexford Industrial Realty, First Industrial Realty Trust, Terreno Realty Corporation, Hillwood and Crow Holdings Industrial. Broad incumbents are Prologis and Trammell Crow Company. IDG (Industrial Development Group) is listed as an emerging player.
Does Ashley Capital LLC have an API?
No public API is recorded for Ashley Capital LLC.
What industry is Ashley Capital LLC in?
Ashley Capital LLC's product category is Industrial Real Estate Investment & Development. Its primary akta.pro industry code is BPAJAMAB, Commercial Real Estate Asset Management, with a secondary code of BPAJAMAK, Real Estate Investment Management (Acquisitions & Dispositions). Its NAICS code is 5312 and its SIC code is 6500.