Manatee County Logistics Center - Buildings 100 & 200

4425 & 4505 24TH ST. E BRADENTON, FL 34208

Description

JLL has been exclusively retained for the sale of Manatee County Logistics Center, a newly delivered Class A light-industrial park in Bradenton, Tampa MSA, Florida. The offering consists of two dock-high, rear-load buildings totaling 375,801 square feet. Completed in 2024, the park features high visibility at one of the County’s most important intersections, and best-in-class, institutional-grade specifications. Positioned directly off U.S. 301, the Property benefits from strong connectivity for last-mile distribution to the Sarasota-Bradenton, Tampa, and Cape Coral-Fort Myers MSAs via convenient access to I-75, I-275, U.S. 301 and U.S. 41.

The Property is currently 75% leased with 4.9 years of weighted average lease term remaining. Building 100 represents 50% of the rentable area and is fully leased to Pierce Manufacturing, a 114-year-old business, which is backed by its investment-grade credit-rated parent company Oshkosh Corporation (NYSE: OSK and S&P: BBB).

The multi-tenant park is in the heart of one of Florida’s fastest-growing coastal markets, combining stable, long-term cash flow, and an immediately actionable value-add strategy for strong NOI growth, offered at a discount to recent Central Florida trades and replacement cost.

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Attributes

Building class

Year Delivered

2024

Building area net

34,913 sm

Land area gross

7.33 ha

Clear height

9.75 m

Occupancy

75%

WALT

4.9 Yrs

Media

Investment highlights

UNIQUE OPPORTUNITY TO ACQUIRE A NEWLY-BUILT CLASS A LIGHT INDUSTRIAL PARK IN A HIGH-GROWTH COASTAL MARKET WITH SECURE INCOME & IMMEDIATE UPSIDE

MCLC offers the unique opportunity to acquire a newly-built, Class A, 375,801 SF light-industrial park in a high-growth, coastal Central Florida market.
75% leased with immense value-add potential through lease-up of the remaining available space (95K SF) and 61% NOI growth by Year 2 of the projection.

ATTRACTIVE ACQUISITION BASIS BELOW RECENT CLASS A TRADES AND NEW CONSTRUCTION

Attractive acquisition basis below recent Tampa MSA and Central Florida transactions ($285+ PSF), and at a discount to replacement cost ($195+ PSF).

NATIONAL, INDUSTRY-LEADING ANCHOR TENANT WITH MISSION CRITICAL FLORIDA PRESENCE & INVESTMENT-GRADE CORPORATE BACKING

Stable, in-place cash flow anchored by industry-leading Pierce Manufacturing (50% of the NRA) with NNN leases averaging 3.2% annual escalations, a secure 4.9-year WALT, renewal options, and no near-term capital requirements.
The tenant is backed by the immense financial strength of its parent company, Oshkosh Corporation (NYSE: OSK; $10.4B Revenue), which holds an investment grade credit rating of BBB from S&P Global.

INDUSTRIAL CAMPUS ENVIRONMENT WITH INSTITUTIONAL-QUALITY DESIGN SPECIFICATIONS & HIGHWAY FRONTAGE

Premier, Class A industrial campus with direct U.S. 301 & 44th Ave East highway frontage including 16 storefronts engineered for optimal divisibility with 32’ clear heights and ample parking capacity (1.2 per 1K SF parking ratio).
Superior loading with rear-load configuration, 104 total (9’ x 10’) dock-high doors (2.8 per 10K SF), 4 total (12’ x 14’) motorized drive-in doors, and a deep 180’ shared truck court maximizing logistical efficiency.

STRATEGIC WEST COAST FLORIDA LOCATION WITH QUICK ACCESS TO CRITICAL LOGISTICS INFRASTRUCTURE & LAST-MILE LOGISTICS CAPABILITIES TO THREE OF THE NATION’S FASTEST GROWING MSAs

MCLC provides last-mile logistics capabilities to three of the fastest-growing MSAs in the nation: Sarasota-Bradenton, Tampa, and Cape-Coral-Fort Myers with the ability to reach 4.9M+ people, the most densely populated county in the state (Pinellas County), 1/3rd of the state’s fastest growing counties, and the 13th wealthiest suburb in the state (Lakewood Ranch), all in under 90 minutes.