Academy Distribution Center Katy
US - Katy, TX
As the exclusive sales agent, Jones Lang LaSalle has been retained to market
the fee-simple interest in 77 Industrial Rowe (the “Asset” or “Property”); a
113,050 SF manufacturing asset located in Gardner, MA . Built in two phases,
the Property, includes 60,000 SF of in-demand high-bay warehouse space
as well as over 50,000 SF of manufacturing/production space. Situated
on Route 2, 77 Industrial Rowe offers seamless access and connectivity to
major interstates, including I-495 and I-190, which provide same-day access
to all the major population hubs across the Northeast.
The Route 2 corridor market boasts strong leasing fundamentals specifically,
an 8.5% increase in direct rents over the past year paired with 0 SF of new
supply in the 100,000 SF range planned to hit the market. This stretch of the
Route 2 corridor is home to name brand tenants, like AIS, Masonite, DGC
Cable, Seaman Paper and Atlantic Door.
The property is 100% occupied by Garlock Printing & Converting, a fullservice
Flexible Packaging Converter that provides packaging solutions to
noncyclical end markets, particularly food. With two locations positioned to
serve the East and West Coast, Garlock is focused on high quality, ten-color
flexographic printing that extends shelf-life, reduces waste, and increases
Garlock Printing intends to execute a 10 to 15-year sale-leaseback at market
rent, providing investors with a rare opportunity to purchase a well-situated
asset with strong in-place tenancy and durable cash flow.
Parcel is being marketed “as-is” and is free and clear of any debt.
-Sticky In-Place Tenant
-Tightening Industrial Market
-Long-term Cash Flow Certainty