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LEX Announces IPO of Prime New England Industrial Asset
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LEX Announces IPO of Prime New England Industrial Asset

NEW YORK–(BUSINESS WIRE)–LEX has announced the launch of its latest IPO, a prime New England industrial building, on the heels of the successful 286 Lenox IPO in Harlem, New York (OTCMKTS: TESLU) earlier this year. LEX’s latest offering, The Landing at One Chestnut, is a stabilized industrial asset located in Nashua, New Hampshire, a fast-growing city with competitive tax policies. The building’s owner-operator, Manzo Freeman Development, has a long track record of making distributions.

Located less than an hour from Boston, The Landing at One Chestnut is a converted industrial mill property owned and operated by Manzo Freeman Development (MFD), an experienced team with a track record of success. Built in 1915, the 430,804 square foot mill building has been improved to accommodate modern warehouse, distribution, flex office, and self-storage uses.

The building’s proximity to Boston and its central New England location appeals to tenants as well as to investors looking to add exposure to industrial buildings to their portfolio. One Chestnut is well-leased in a tight local market with little space available. According to a 2022 second-quarter report from Colliers, New Hampshire and the Nashua area have low industrial vacancy rates, indicating a strong potential for higher asking rental rates.

“One Chestnut is a key part of our portfolio, and we’re excited to share this investment opportunity with the public through our partnership with LEX,” said Michael K. Manzo, Managing Partner and President of Manzo Freeman Development. “We’ve made substantial improvements to the property over the years, continue to attract a strong tenant base, and believe this building – located in a prime downtown location – is positioned for continued value creation.”

“The MFD team has spent a number of years repositioning the asset, providing the upgrades that our tenants want,” said Joe Freeman, CEO, and Director of Business Development. “Investors in the offering are going to benefit from our hard work as the building is well-leased to a strong roster of local and national companies that value the asset’s location and functionality.”

As of this writing, One Chestnut has more than 50 tenants, including the four largest that occupy more than 57% of the net rentable space and have an average tenure at the property of over 25 years. The largest tenant, Extra Space Storage (NYSE: EXR), is one of the country’s largest self-storage operators and has been located at the property for over 30 years.

“The One Chestnut IPO is a signal of our continued and strong momentum this year,” said Drew Sterrett, LEX Co-Founder and Co-CEO. “We are excited to partner with the esteemed Manzo Freeman Development team and to offer such a unique investment to the public in a time where demand for industrial property is soaring.”

One Chestnut is open to all U.S. investors. Investors can benefit from the favorable tax treatment associated with direct ownership of real estate and will receive their proportional share of any cash distributions along with the owner.

Once the initial offering period ends, shares can be held in any brokerage account. One Chestnut will be assigned a ticker symbol and trade on the secondary market, just like any other stock. Shares will trade during standard market hours.

Please visit LEX’s offering page for more information about The Landing at One Chestnut.

About LEX

LEX is a new way to invest in real estate. LEX turns individual buildings into public stocks. Any U.S. investor can open a LEX account, browse opportunities in various asset classes such as multifamily and office buildings, and buy shares of individual buildings. As shareholders, investors can earn income quarterly and can trade their shares on our public market whenever they need to exit (liquidity not guaranteed). Each building on LEX has a ticker symbol and stock chart. LEX opens up direct and tax-advantaged ownership in an asset class that has previously been inaccessible to most investors. For more information, please visit

About Manzo Freeman Development

Manzo Freeman Development is a privately-owned commercial real estate firm with offices in Hudson, Massachusetts. MFD leverages over 40 years of direct real estate acquisition and development experience, in depth local market knowledge, strong reputation, and track record of success. MFD is a vertically integrated real estate acquisition development and management company with a full suite of services. The MFD team is highly experienced in acquisitions, due diligence, permitting, redevelopment, construction project management, property management, asset management and accounting/bookkeeping/reporting and leasing.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.


This document shall not constitute an offer to sell or the solicitation of an offer to buy an interest in the Company or other offering, which may only be made at the time a qualified offeree receives the offering circular contained within the Offering Statement (the “Offering Circular”), and the subscription agreement pursuant to which a potential investor may participate in the offering by subscribing for limited liability company units of the Company (Units). All information contained herein is qualified in its entirety by the detailed information that is contained will appear in the Offering Circular, subscription agreement, and the related offering information. The Offering Circular is available here.

Potential investors are encouraged to consult with professional tax, legal, and financial advisors before making any investment into a securities offering. This investment may not be suitable for all investors. Distributions not guaranteed. Liquidity not guaranteed. Property performance and performance of property tenants are not guaranteed. Diversification does not eliminate the risk of experiencing investment loss.

All investment services are offered by LEX Markets LLC, Member FINRA/SIPC.


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