Academy Distribution Center Katy
US - Katy, TX
1,500,596 sf
Industrial & Logistics
Linde Gas & Equipment - Ft. Wayne, IN
1725 Edsall Ave, Fort Wayne, IN, 46803-2725, US
Gallery
Asset description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in the Linde Gas & Equipment (“Linde”) facility in Fort Wayne, Indiana. Linde plc is the largest welding, industrial, medical and specialty gas providers globally and carries an outstanding “A” credit rating from S&P. The Subject Property is 100% leased to Linde Gas & Equipment and the tenant recently signed a new 5-year extension at below market rates. This net-lease, industrial investment offers 3% annual increases and minimal landlord responsibility, within one of the top Midwest industrial markets.
STEVE SCHWEGMAN
Senior Managing Director
IN-RB14042704
Steve.Schwegman@am.jll.com
Attributes
Asking Price
$1,353,000
Building area gross
42,650 sf
Occupancy
100.00%
Year built
1960
Cap Rate
7.25%
NOI
$99,000
Investment highlights
- Resilient tenancy with long-term in-place supply agreements
- Linde - outstanding S&P "A" credit rating
- Linde - 2022 net income of $4.15B, up 12.4% Y-O-Y
- Recent extension resulting in 5 years of lease term remaining
- Low in-place rent of $2.30 PSF with high renewal probability
- Attractive option rent at FMV
- Attractive 3% annual increases over the next 5 years
- Minimal landlord responsibilities
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Last updated
Mar 29, 2023