Mobile Portside - Bldgs. D & N
Theodore, AL, US, Americas
Asset description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in an Air Pros USA (“Air Pros”) low-coverage industrial facility in Mobile, Alabama. The asset is 100% leased to Air Pros USA, one of the nation’s fastest growing HVAC service providers with over 1,000 experienced professionals, 800 trucks, and 1,000,000+ customers across 22 locations. The Tenant’s net lease features 10.9 years of lease term remaining, attractive 2.0% annual rent escalations, minimal landlord expense responsibilities, and two, five-year renewal options.
This opportunity offers secure, long-term growing cash flow backed by a national HVAC company and is in an infill and fundamentally strong industrial market with ideal proximity to Interstate-65 and Interstate-10 thoroughfares.
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Attributes
Asking price
$4,266,000
Cap rate
7.85%
WAULT
10.9 years
Occupancy
100%
Building area net
31,269 sf
Year built
1980
Year renovated
2023
Media
Investment highlights
- Air Pros is a national HVAC, plumbing, and electrical repair and installation service provider with over 1,000 professionals across 22 locations
- Among the fastest growing HVAC service providers in the U.S.
- Long-term net lease with 10.9 years of term remaining and 2.0% annual rent increases
- Limited landlord expense responsibilities limited to structural/foundation only (roof is Tenant's responsibility)
- Low-coverage, fully-paved industrial outdoor storage with expansive truck parking, which offers future expansion capabilities
- Recently renovated in 2023
- Growing industrial submarket that is supply-constrained with only 1.7% vacancy and 38% rent growth since 2020
Contact brokers
Single Tenant Industrial Outdoor Storage - Mobile, AL (0 Properties)
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Last updated
Jan 14, 2025
