Whitaker Park (2024)_Property for Sale
Whitaker Park (2024)_Property for Sale
4035 Reynolds Court, Winston-Salem, NC, 27105, US

Whitaker Park (2024)

Asset description

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.

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Attributes

Building area net
7,640 sm
Occupancy
100%
Year built
1984
Year renovated
2023

Media

Investment highlights

  • STABLE, IN-PLACE CASH FLOW WITH FUTURE MARK-TO-MARKET OPPORTUNITY


  • ADVANTAGEOUS LOGISTICS LOCATION


  • BELOW REPLACEMENT COST ACQUISITION



  • HIGHLY-FUNCTIONAL FACILITY WITH RECENT UPGRADES


  • HIGH-PERFORMING INDUSTRIAL MARKET


Whitaker Park (2024) 4_Property for Sale
Whitaker Park (2024) 4_Property for Sale

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Whitaker Park (2024) (0 Properties)

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Last updated
May 16, 2024