Progressive Site - 12201 Old Columbia Pike - 2024
12201 Old Columbia Pike, Silver Spring, MD, 20904, US
1,369 m²
Asset Description
Jones Lang LaSalle Americas, Inc. as exclusive advisor to owner, is pleased to present the opportunity to acquire 460 Nixon Road. The Property is a multi-tenanted 515,411 SF, industrial facility situated on 43 acres, with access to a full interchange of I-76 (PA Turnpike), just 20 minutes northeast of downtown Pittsburgh.
The Property is currently 87% leased to five tenants with 5.78 years of weighted average lease term and in-place rents that are over 30.4% below market. The existing vacancy, diversified tenant roster and below market rents make the Property an exceptional opportunity for an investor to add significant value within a proven industrial submarket.
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Attributes
Building area net
47,883 m²
Year built
1978
Occupancy
87%
Tenants
5
WALT
5.78 years
Media
Investment Highlights
- In-Place Cash Flow with Immediate Opportunity to Add Value
- Attractive Basis at a Substantial Discount to Replacement Cost
- Below Market In-Place Rents
- Limited Competition in the Greater Pittsburgh Area
- Infill Location with Strong Logistical Connectivity
Contact brokers
460 Nixon Road (0 Properties)
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Last updated
27 Feb 2025
