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.
- Below market in-place rent
- Best-in-class industry leading tenancy with Iron Mountain credit
- Favorable Hudson Valley - industrial market
- 5.5 years remaining with 3% annual rent escalations
- Triple-net lease with zero landlord responsibilities
- Ability to reposition Asset with value-add yield profile