IPS Rock Hill

1332 Fire Tower Rd, Rock Hill, SC, 29730-8049, US

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained as the exclusive sales representative for IPS Rock Hill (“the Property”), a 43,700 square foot warehouse facility located in Rock Hill, South Carolina. The Property is 100% leased to Integrated Power Services, LLC (“IPS”) with 5.7 years of lease term remaining. IPS is a premier provider of mission-critical power solutions across North America, specializing in repair services and distribution for continuous process industries that demand uninterrupted operation.

The Property is situated in the York County submarket, which maintains a remarkable ±95% ten-year average occupancy rate that continues to drive upward pressure on rental rates. Additionally, the Property is positioned less than a mile and a half from I-77, offering seamless connectivity to the heart of Charlotte and its key economic drivers, including just a 30-minute drive to Charlotte Douglass International Airport (CLT), the world’s 7th busiest airport by total aircraft movements. Overall, IPS Rock Hill presents investors with the opportunity to acquire a 100% leased industrial asset in the premier Charlotte industrial market at a below replacement cost basis, with future value creation potential.

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Attributes

Building area gross

43,700 sf

Occupancy

100%

Year built

1985

Land area gross

4.32 acres

Media

Investment Highlights

STABLE CASH FLOW WITH STRONG CONTRACTUAL GROWTH

• 100% leased to Integrated Power Systems (IPS) with 5.8 years of remaining lease term providing strong in-place cash flow

• 3.00% annual escalations providing investors with strong contractual yield growth

MISSION-CRITICAL FACILITY

• Centralized East Coast operation serves as a gateway to the company’s coast-to coast network, serving Integrated Power Services clients with high-speed local delivery 24/7

• The facility’s power capacity was strategically upgraded by the Tenant to service approximately 12 cranes providing 17 tons of lifting capacity

• Tenant recently renewed their term on a fresh five (5)-year lease, demonstrating their need and commitment to the space

ATTRACTIVE ACQUISITION BASIS

• The Property is being offered well below the cost to replace the facility today, particularly given its small footprint and the current elevated construction cost environment

• Low basis to entry enhances investment potential, allowing investors to enter a high barrier to entry industrial market while mitigating risk

OWNER-FRIENDLY ABSOLUTE NET LEASE STRUCTURE

The Absolute Net Lease structure eliminates investors’ exposure to capital expenditures over the life of the lease and renewal options, providing ownership with minimal financial obligations or operational expenses

DESIRABLE MARKET AMENITIES

The 4.32-acre site includes the capability for outside storage enclosed by a fence surrounding the rear of the property along with three (3) curb cuts along the front of the asset

STRONG REGIONAL CONNECTIVITY

The Property benefits from favorable accessibility to multiple surrounding interstates including I-77, I-485 and I-85, the logistics super corridor that has emerged as the economic engine of the Sun Belt providing seamless transportation and distribution opportunities