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NNN, Credit Industrial|Extended Leases|$22/S.F!
1411 Navarre Road SW, Canton, OH 44706
186,285 SF | Industrial
Industrial Property - Off Market
- Building Size:
- 186,285 SF
- Property Type:
- Property Sub-type:
- Distribution Warehouse
- Additional Sub-types:
- Property Use Type:
- Net Lease Investment with
- 7 years left on lease
- Cap Rate:
- No. Stories:
- Year Built:
- Clear Ceiling Height:
- 40 ft.
- Dock-High Doors/Loading:
- Drive In/Grade-Level Doors:
- Lot Size:
- 10.50 AC
- Listing ID
- Last Updated
- 35 days ago
- Fenced Yard
- Trailer Parking
- Recently Executed Lease Extensions With ALL Tenants! Main Anchor, Crown Through 2020 and Helios Through March 2016
- Anchored by Nationally/Internationally Recognized Credit Tenants: Timken (NYSE: TKR / S&P "BBB-") and Crown Cork & Seal (NYSE: CCK / S&P "BB+")
- Low $22/S.F. Price with High 16.10% Projected Year-1 Cash-on-Cash Return
- Now 100% Occupied: NNN Anchor Leases with High-Quality Tenants & Additional Vacant Land Included
- Tenant, Helios Recently Completed Over $13 Million of Tenant Improvements to Their Space & Just Executed Early Lease Extension, Showing a High Level
- 186,285 S.F. with Up To 40' Ceiling Height: 12 Docks (9 with Levelers)
"77 - 30 Center," is a 186,285 S.F. industrial and manufacturing facility optimally located adjacent to I-77 in Canton, Ohio. With highway visibility from I-77 and immediate access to the property upon exiting the freeway, the property is in a perfect location to serve the tenants and is a well-known landmark to the area. The property is being offered for $4,150,000, representing an 8.88% CAP Rate, high 16.10% projected year-1 cash-on-cash return, & low price per square foot asking price ($22).
With 100% occupancy, the building offers stable tenancy and is leased by credit tenants on Triple Net (NNN) leases. The facility is anchored by Crown Cork & Seal (NYSE: CCK / S&P "BB+"), who just executed an early lease extension through 2020 showing their long-term dedication to the site for their distribution needs. Crown is the leading manufacturer of packaging products for consumer marketing companies around the world. The company manufactures six miles to the west of the featured property & moved its distribution segment to this facility for its world-class distribution perks, featuring 7 docks, 40' clear ceiling, sprinklers & its location on the junction of I-77 and Route 30.
The facility also boasts international, S&P "BBB-" rated anchor tenant, Timken (NYSE: TKR), whom just renewed their lease. Timken employs over 21,000 people and is headquartered nearby in Canton, Ohio. Timken is the leading global manufacturer of highly engineered bearings and associated products. In addition to Timken and Crown, Helios Coatings has a large presence at the facility. The company has created a revolutionary process that replaces chrome. Their new system is lighter, less expensive and environmentally friendly. Crown has recently been accepted as a preferred vendor by major car manufacturers, Chrysler and GM. Helios just executed an early lease extension and only a short time ago invested over $13 million into their space showing a high level of commitment to the property.
Canton is the county seat of Stark County in Northeastern Ohio, approximately 24 miles south of Akron and 60 miles south of Cleveland. The featured property is central with access to either I-77 or Route 30 surrounded by manufacturing. The Akron-Canton Airport is within close proximity (10 miles) and The Navarre Road exit off I-77 sits 0.1 mile from the property.
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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