PLD Sale-Leaseback Portfolio_Property for Sale
PLD Sale-Leaseback Portfolio_Property for Sale
Copiague, NY, US, Americas

PLD Sale-Leaseback Portfolio

Portfolio description

JLL is pleased to exclusively offer for sale the PL Developments SLB (Sale-Leaseback) Portfolio (the “Portfolio”), a four-property Portfolio totaling 93,000 square feet in Copiague, Long Island, New York. The Portfolio is 100% occupied by PL Developments (the “Tenant”), a leading manufacturer, packager, and distributor of over-the-counter pharmaceutical products and consumer healthcare goods. 

PL Developments will commit to a 15-year initial lease term and absolute triple-net master lease structure, creating an attractive passive income opportunity for single-tenant investors who seek stable, appreciating, long-term cash flow backed by strong tenancy. 

The Portfolio represents a critical mass of irreplaceable, market dominant assets in the high barrier to entry and growth market of Long Island. Suffolk County’s strategic location provides direct access to all major through-fares and three airports on Long Island, as well as the populous and affluent New York metropolitan area.

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Attributes

Building area net
8,668 m²
PLD Sale-Leaseback Portfolio (3 Properties)
PLD Sale-Leaseback Portfolio (3 Properties)

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Investment Highlights

  • Mission-critical facility manufacturing OTC and RX pharmaceuticals for core blue chip customers such as Walmart, CVS, and Walgreens
  • Deeply entrenched customer base due to PLD’s track record as a reliable supplier with key qualifications such as cGMP and FDA approved facilities
  • Exceptional Long Island location with strong market fundamentals (97% occupancy and rents projected to grow 13% over the next 36 months)
  • Absolute NNN lease structure with annual base rent increases makes for an optimal passive investment with no capital requirements
PLD Sale-Leaseback Portfolio 4_Property for Sale

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Last updated
14 Mar 2024