Track Record
A selection of investments demonstrating Oxford's approach to value creation through operational intensity, basis discipline, and generational hold periods.
3540 E. Fifth Avenue
Columbus, Ohio · 35,886 SF · Industrial
Situation. A 35,886 SF functionally obsolete truck repair facility near Columbus International Airport, purchased vacant in January 2022 for $1.3M.
What we saw. A usable shell (rear and side loading, heavy power, 15’ to 19’ ceilings) whose problems were condition and environmental history, not location or function.
What we did. Completed a ~$1.0M renovation: a new metal building skin, roof replacement, full asphalt milling and repaving, overhead door replacements, a complete office rebuild, and upgraded HVAC systems. We worked with the Ohio EPA to implement vapor mitigation systems.
Result. A 10-year lease with a global fragrance manufacturer at an approximate 12% yield on total project cost (purchase plus renovation), and a market value of nearly 2x total project cost.
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Sepich Portfolio
Columbus, OH · 110,000 SF · 35+ Tenants
Situation. February 2021: 110,000 SF of small-bay industrial and flex with 35+ tenants, plus industrially zoned land, a cell tower and a billboard, owned by the heirs of the original builder and managed remotely.
What we saw. No building was vacant, but every unit was on a short-term lease to a non-credit tenant at significantly below-market rent, and no one was marketing to widen the tenant pool.
What we did. Worked with tenants to bring rents closer to market gradually, avoiding a spike in vacancy and keeping each increase manageable so our tenants could keep succeeding. Used social media and other non-traditional marketing to reach more small-business tenants as units rolled.
Result. Units that rented for under $6 PSF gross now rent for $13 PSF gross. NOI has doubled since purchase, with more upside as below-market leases roll.
9050 Red Branch Road
Columbia, MD · 90,000 SF
Situation. August 2015: a 90,000 SF multi-tenant industrial/flex building with 5,000 to 15,000 SF units, truck-height docks and, in some units, drive-in ramps. Stabilized and fully leased.
What we saw. A stabilized building with rents slightly below market and room to grow them.
What we did. Held for the long term and pushed rents as turnover allowed. Turnover is minimal, so rent growth has been gradual.
Result. NOI has grown roughly 1.8x since purchase. We have declined offers approaching $200 PSF because we see more rent growth ahead.
29000 Information Lane
Eastern Shore, MD · 48,000 SF · 20+ Tenants
Situation. A 48,000 SF small-bay industrial and flex property in Easton, MD, a tertiary Eastern Shore market, acquired largely vacant from a national construction company for which it was a non-core holding.
What we saw. Unmet demand from small local businesses poorly served by a distant corporate landlord, in a market that lenders and institutional buyers generally avoid. Tertiary-market volatility did not deter us.
What we did. Priced leases competitively, starting near $8 PSF gross, with targeted concessions, marketed directly to local operators and responded quickly. Our low-leverage, all-cash strategy lets us accept greater risk in more volatile, less financeable markets where institutional competition is limited.
Result. The property filled and a waiting list formed, supporting an increase in average rents to roughly $14 PSF gross today, with further growth potential. NOI is up about 6x since acquisition.
1900 North Broadway
Baltimore, MD · 27,650 SF · Medical Retail
Situation. August 2015: a 27,650 SF multi-tenant medical-retail building, formerly a national ministry’s headquarters, bought with a 6,000 SF vacancy the prior owner could not lease.
What we saw. The vacancy and the below-market rents were one problem: nobody had reconfigured the space for the tenant that wanted it.
What we did. A national dialysis operator needed 9,000 SF and we had 6,000. We relocated a 1,500 SF neighboring tenant and compensated them for their help, and a second neighbor gave up 2,000 SF, turning below-market space into market-rate space.
Result. The building is now fully leased and NOI is up about 3.5x since purchase.
55 New Plant Court
Owings Mills, MD · 34,500 SF · Acquired Oct 2016
Situation. October 2016: a 34,500 SF single-tenant, rear-loaded industrial/flex building in Owings Mills, MD, with truck-height docks, 20’ ceilings, heavy power, 9,500 SF of office and a 2.35-acre site.
What we saw. An excellent basis and location, but the credit tenant had one year remaining and was unlikely to renew. That near-term lease risk made the property difficult to finance.
What we did. Acquired the property all-cash. Our low-leverage strategy removed the financing constraint and allowed us to underwrite the real estate rather than the remaining lease term.
Result. A partially owned subsidiary of the credit tenant, already occupying roughly half the building, took over the entire space and has been a strong tenant since our acquisition.
7658 Fishel Drive N
Dublin, OH · 24,000 SF · Acquired Jan 2026
Situation. January 2026: a 24,000 SF industrial/flex building in Dublin, Ohio, in the Columbus market, occupied in full by a credit tenant under a long-term lease at a rent significantly below market.
What we saw. The in-place rent limits near-term yield, but the location and basis support our long-term objectives. This profile may not suit investors focused on IRR.
What we did. Acquired the property all-cash. Given the in-place rent, financing would not have been prudent; cash allowed the investment to work on its basis.
Result. A well-located, long-duration holding. We accept lower returns over a 10 to 15 year horizon when basis supports the investment.
Fairground Village Center
Westminster, MD · 29,000 SF · Disposition
Acquired at 80% occupancy. After the largest tenant defaulted (vacancy spiked to 37%), Oxford demised the vacant space into smaller units, enabling rapid lease-up at higher rents. Property maintained near-100% occupancy through disposition. Sold in 2020 at 2× the acquisition basis.
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