Progressive Site - 12201 Old Columbia Pike - 2024
12201 Old Columbia Pike, Silver Spring, MD, 20904, US
1,369 sm
Asset description
Jones Lang LaSalle Americas, Inc. as exclusive advisor to owner, is pleased to present the opportunity to acquire 460 Nixon Road. The Property is a multi-tenanted 515,411 SF, industrial facility situated on 43 acres, with access to a full interchange of I-76 (PA Turnpike), just 20 minutes northeast of downtown Pittsburgh.
The Property is currently 87% leased to five tenants with 5.78 years of weighted average lease term and in-place rents that are over 30.4% below market. The existing vacancy, diversified tenant roster and below market rents make the Property an exceptional opportunity for an investor to add significant value within a proven industrial submarket.
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Attributes
Building area net
47,883 sm
Year built
1978
Occupancy
87%
Tenants
5
WALT
5.78 years
Media
Investment highlights
- In-Place Cash Flow with Immediate Opportunity to Add Value
- Attractive Basis at a Substantial Discount to Replacement Cost
- Below Market In-Place Rents
- Limited Competition in the Greater Pittsburgh Area
- Infill Location with Strong Logistical Connectivity
Contact brokers
460 Nixon Road (0 Properties)
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Last updated
Feb 27, 2025
