Frito Lay BTS Last Mile Distribution - Elkin, NC
232 PGW Drive, Elkin, NC, 28621, US
9,350 sf
Jones Lang LaSalle Americas, Inc, ("JLL") has been retained as the exclusive sales representative for Whitaker Park ("the Property"), an 82,234 square foot single-tenant industrial facility located in the high-growth Greensboro-Winston-Salem-High Point ("Triad") industrial market. The Property is 100% leased on a triple net basis to Marketing Results, LTD, a fast-growing online retailer with 5.5 years of term remaining and 3.00% annual escalations. Furthermore, Whitaker Park provides investors a robust value creation avenue via the mark-to-market of in-place rents approximately 25% below market in a high-performing submarket within the Winston-Salem MSA.
Positioned at an advantageous infill location within four (4) miles of downtown Winston-Salem, the Property benefits from its proximity to US-52 which provides seamless connectivity to the surrounding region via the Triad's world-class interstate network including I-40, I-85, I-74, I-285, and I-73. Existing ownership has recently carried out an extensive capital program to modernize the facility which includes four (4) new dock doors, ESFR sprinklers, a white-boxed interior and new concrete floor slabs. Overall, Whitaker Park presents investors with the opportunity to acquire a 100% leased, modernized industrial warehouse facility in a highly infill logistics location at a significantly below replacement cost basis with substantial future mark-to-market opportunity.