Sumner West Logistics Center
3101 West Valley Highway East, Sumner, WA 98390
24 558 mètres carrés
Description du portefeuille
Jones Lang LaSalle Americas, Inc ("JLL") has been retained as the exclusive sales representative for the Mid-Atlantic I-81 Logistics Park (the "Portfolio") – a two (2) building, 904,360 SF industrial warehouse portfolio situated directly alongside I-81 in Inwood, West Virginia. The 100% leased portfolio presents investors with an attractive acquisition opportunity with a secure rent roll, credit tenancy, a WALT of 5.7 years, and the optionality to expand the size of the Portfolio by up to 288,000 SF.
139 Development Drive is fully leased to The Clorox Company (NYSE: CLX | S&P: BBB+), a long-time leader in the cleaning products industry that has continuously expanded to own a host of subsidiary brands from Hidden Valley Ranch to Burt’s Bees. 264 Development Drive is fully leased to Trex Company Inc. (NYSE: TREX | S&P: BBB) which, since its founding in 1996, has become the world’s largest manufacturer of wood-alternative composite decking and railing. Given the tenants’ market renewal options, the Portfolio features robust future yield expansion via strong market annual escalations and an 18% mark-to-market.
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Attributs
Superficie du bâtiment brute
84 018 mètres carrés
Nombre de bâtiments
2
Occupation
100 %
Année de construction
2022
WAULT
5.7 années
Mid-Atlantic I-81 Logistics Park (2 Propriétés)
Mid-Atlantic I-81 Logistics Park (2 Propriétés)
Média
Points forts de l'investissement
- Institutional Quality Assets: The Portfolio boasts the highest standards for a modern industrial project, including 36' and 32' clear heights, ESFR, 190' and 180' truck court depth, and 93 dock doors across the Properties.
- Investment Grade Tenancy and Growth Potential: The Clorox Company (NYSE: CLX | S&P: BBB+) and Trex Company Inc. (NYSE: Trex | S&P: BBB), provide bulletproof cash flow with strong escalations while featuring future yield expansion via the multiple fair market value renewal options, an 18% mark-to-market and the option for 288,000 SF of on-site expansion for 139 Development Drive.
- Strategic Tenant Location: The Clorox Company has 3 facilities in West Virginia, including a recently built (2022), state-of-the-art cat litter manufacturing plant 3/4 of a mile down the street from 139 Development Drive. Trex's recent lease marks their 6th facility along I-81, reflecting the organic expansion by tenants throughout the I-81 south corridor. This premier location provides efficient access to the Mid-Atlantic as well as connectivity to a strong labor pool.
- I-81's Robust Leasing Activity: Over the last 15 months, I-81 has leased approximately 7,000,000 SF, with this market being home to blue chip occupiers such as ConAir, Black+Decker, Amazon, and Proctor & Gamble at Tabler Station Plant.
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Dernière mise à jour
19 mars 2025
