Freedom Business Center – Raleigh, NC
US - Raleigh, NC
12,008 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in 37 Hurds Corners Road in Pawling, New York (the “Property”). The property is a 105,207 square foot industrial facility within the Dutchess County - Hudson Valley industrial market.
Over the last 10 years, Dutchess County industrial submarket has experienced record setting market rent growth and all-time low vacancy rates. Iron Mountain (“IRM”) is an industry dominating tenant in the storage and information services sector that serves 95% of the Fortune 1000 and is 10x larger than their closest competitor.
At the expiration of the lease, investors will have the opportunity to capture a mark to market opportunity.
...
Attributes
Asking Price
CHF 5,904,000
Building area Gross
9,774 m²
Occupancy
100.00%
Year built
1965
Land area Gross
7.08 ha (70,780 m²)
Cap Rate
8.00%
NOI
CHF 473,000
Media
Investment Highlights
- Below market in-place rent
- Best-in-class industry leading tenancy with Iron Mountain credit
- Favorable Hudson Valley - industrial market
- 5.5 years remaining with 3% annual rent escalations
- Triple-net lease with zero landlord responsibilities
- Ability to reposition Asset with value-add yield profile
Contact brokers
Iron Mountain - Hudson Valley Industrial Market (0 Properties)
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
15 Jun 2023
