Iron Mountain - Hudson Valley Industrial Market_Property for Sale
Iron Mountain - Hudson Valley Industrial Market_Property for Sale
37 Hurds Corners Rd, Pawling, NY, 12564-2400, US

Iron Mountain - Hudson Valley Industrial Market

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in 37 Hurds Corners Road in Pawling, New York (the “Property”). The property is a 105,207 square foot industrial facility within the Dutchess County - Hudson Valley industrial market.


Over the last 10 years, Dutchess County industrial submarket has experienced record setting market rent growth and all-time low vacancy rates. Iron Mountain (“IRM”) is an industry dominating tenant in the storage and information services sector that serves 95% of the Fortune 1000 and is 10x larger than their closest competitor.


At the expiration of the lease, investors will have the opportunity to capture a mark to market opportunity.

...

Attributes

Asking price
€5,663,000
Building area gross
9,774 m²
Occupancy
100%
Year built
1965
Land area gross
7.08 ha (70,780 m²)
Cap rate
8.4%
NOI
€476,000

Media

Investment Highlights

  • Below market in-place rent
  • Best-in-class industry leading tenancy with Iron Mountain credit
  • Favorable Hudson Valley - industrial market
  • 5.2 years remaining with 3% annual rent escalations
  • Triple-net lease with zero landlord responsibilities
  • Ability to reposition Asset with value-add yield profile
Iron Mountain - Hudson Valley Industrial Market 4_Property for Sale
Iron Mountain - Hudson Valley Industrial Market 4_Property for Sale

Contact brokers

Iron Mountain - Hudson Valley Industrial Market (0 Properties)

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Last updated
14 Dec 2023