Linde Gas & Equipment - Tulsa, OK_Property for Sale
Linde Gas & Equipment - Tulsa, OK_Property for Sale
1824 Southwest Blvd, Tulsa, OK, 74107-1714, US

Linde Gas & Equipment - Tulsa, OK

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in a Linde Gas & Equipment (“Linde”) industrial facility in Tulsa, Oklahoma. Linde is the largest welding, industrial, medical, and specialty gas providers globally and carries an outstanding “A” credit rating from S&P.


The Asset is 100% leased to Linde Gas & Equipment and recently exercised a 5-year extension option. The Tenant’s net lease features attractive 3.0% annual rent escalations and minimal landlord responsibilities. Further, the Asset contains Interstate-244 signage that is leased on a long-term basis through December 2033 and generates $11,000 of additional annual cash flow for ownership.


This opportunity offers secure, long-term cash flow backed a high investment grade Tenant and is located in an infill and fundamentally strong industrial market with premier interstate and railroad access. 


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Attributes

Asking price
CA$2,796,000
Cap rate
6.75%
WAULT
4.8 years
Occupancy
100%
Building area gross
1,536 sm
Land area gross
0.59 ha

Media

Investment highlights

  • Resilient tenancy with an outstanding investment grade credit rating (S&P: A), $33.4B revenue, $10.9B in EBITDA, and $4.2B in net income with a low-leverage balance sheet
  • Recent 5-year net lease extension with a proven long-term commitment to the Property
  • Attractive 3% annual rent increases and limited landlord responsibilities
  • Low in-place rent with a high likelihood of renewal
  • One additional five-year renewal option with a fair market rent reset
  • Additional cash flow secured by a long-term signage lease along Interstate 244
  • Ideally positioned adjacent to Interstate 244 (72,000+ VPD) and less than 1.6 miles from Downtown Tulsa
  • Tulsa is the 8th largest industrial market in the Southwest Region of the U.S. by total inventory with 122.0 MSF
  • Since 2019, Tula's industrial market has maintained sub-3.5% vacancy and rents have accelerated by 29% over the period 
Linde Gas & Equipment - Tulsa, OK 4_Property for Sale
Linde Gas & Equipment - Tulsa, OK 4_Property for Sale

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Linde Gas & Equipment - Tulsa, OK (0 Properties)

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Last updated
Apr 4, 2024