For Sale Subject To Offer
Property Type Industrial - Manufacturing
Property Size 206,536 SF
Lot Size 12.3 Acre
Property Tenancy Multi-Tenant
Date Updated Jan 18, 2024
HVAC None

100% occupied complex with strong upside. Below Market Rents. Significant upside in income with several tenants paying below market rents and are on MFG lease structures. Long term historical occupancy of partial tenant base.

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Highlights

100% occupied complex with strong upside
Below Market Rents
Significant upside in income with several tenants paying below market rents and are on MFG lease structures
Long term historical occupancy of partial tenant base
Consistent below market vacancy rate
Limited “time-on-market” when vacancy occurs
Exceptional alternative for multiple mid-size, value conscience, qualified users with a genuine requirement and limited alternatives.
Well maintained for its age - asset consistently improved based upon specific tenant requirements.
Going forward upside as new construction cost continues to increase, lease rates increase and demand for this product type continues to grow as the supply decreases.
Forty-eight percent (48%) of the tenancy have been at the property since 2015; twenty percent (20%) of the tenancy have been at the property since 2012 with one tenant since 1993.
Fifty-six percent (56%) of the tenancy is warehousing and forty-four percent (44%) of the tenancy is manufacturing.