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

€1,876,000

Cap rate

6.75%

WAULT

4.8 years

Occupancy

100%

Building area gross

1,536 m²

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