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DeVilbiss Healthcare Headquarters, Inc.
100 Devilbiss Drive, Somerset, PA 15501
155,227 SF | Industrial
Industrial Property - Off Market
- Building Size:
- 155,227 SF
- Property Type:
- Property Sub-type:
- Additional Sub-types:
- Office Building
- Medical Office
- Distribution Warehouse
- Property Use Type:
- Net Lease Investment with
- 6 years left on lease
- Cap Rate:
- Clear Ceiling Height:
- 24 ft.
- Lot Size:
- 18.87 AC
- Listing ID
- Last Updated
- over 1 year ago
- Industrial property serving as the Headquarters of DeVilbiss Healthcare, a long-term tenant who has occupied the facility continuously since 1951
- Property fronts the Pennsylvania Turnpike for more than 600 feet, offering excellent visibility to more than 55,000 vehicles per day
- Lease is guaranteed by both DeVilbiss Healthcare, Inc. and Sunrise Medical Holdings, Inc. As of June 2011, DeVilbiss Healthcare, Inc. reported a net w
- Low rent per square foot of $2.53, and price per square foot of $28.18, well below replacement cost
- Absolute net-lease with no Landlord responsibilities
- Annual rental increases of 1.5% throughout the base lease term and option periods. Average annual return of 9.42% over remaining lease term (based on
Stan Johnson Company is pleased to offer for sale to qualified buyers an attractive industrial property leased to a long-term medical manufacturing tenant in Somerset, Pennsylvania.
The property is 100% leased to DeVilbiss Healthcare Inc., a market-leader in medical respiratory devices such as sleep therapy products, interface and headgears, compliance monitoring systems, and pulmonary drug delivery products including nebulizer systems.
In August 2010, DeVilbiss spun-off from Sunrise Medical Holdings, Inc., a leading medical devices manufacturer. Since 2007, DeVilbiss had been operating as a separate division within Sunrise, sharing only basic accounting services demonstrating their ability to operate as an independent company. Even though DeVilbiss and Sunrise are currently separate entities, both corporately guaranty the lease. As of June 2011, DeVilbiss Healthcare, Inc. reported a net worth of $31.45mm and Sunrise Medical Holdings, Inc. reported a net worth of $62.7mm.
The property fronts the Pennsylvania Turnpike for more than 600 feet in Somerset, Pennsylvania, offering excellent visibility to more than 55,000 vehicles per day.
Map of 100 Devilbiss Drive, Somerset, PA 15501 (Somerset County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P