
Auria Fremont
400 South Stone Street, Fremont, OH, 43420, US
22 761 mètres carrés
Jones Lang LaSalle (“JLL”), as exclusive advisor to ownership, has been retained to market for sale the fee-simple interest in the Troy Distribution Center, a fully occupied, 211,925 square foot industrial facility located in the affluent suburb of Troy, OH (the “Offering”, the “Property”, or the “Asset”). Built in 1996 and situated less than a half-mile from Interstate 75 and less than 15 miles from the Dayton International Airport, the Property represents the opportunity to acquire a well located an highly functional distribution center strategically located in the Upper Valley submarket of Dayton.
This town-tenant facility is 100% leased with just over half of the Property occupied by an investment grade tenant with more than a decade of tenure (Hobart is a wholly owned subsidiary of Illinois Tool Works (NYSE: ITW, Moody’s: A1, S&P: A+)). The Troy Distribution Center is a well-positioned, cross-dock asset being offered to investors at a basis below replacement cost in a historically low-vacancy market with strong rent growth. The Asset has in-place WALT of 2.5 years or 7.1 years with all options exercised; 47% of GLA is assumed to roll to a market rate renewal option in year 2 of the analysis, creating income growth during the hold period while avoiding significant leasing costs.