This Industrial Property is Off-Market.

280 Business Park Drive
Winston Salem, NC 27107 ·

84,119 SF · Industrial For Sale

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WM Recycle America

Price N/A Cap Rate 6.60%
Building Size 84,119 SF Tenancy Single
Property Type Industrial Year Built 2001
Property Sub-type Distribution Warehouse Clear Ceiling Height 28 ft.
Property Use Type Net Lease Investment with 9 years left on lease Lot Size 12.04 AC
Listing ID: 18505857 Date Created: 01/08/2014 Last Updated: 02/10/2014

Description

Stan Johnson Company is pleased to offer for sale to qualified investors, the opportunity to purchase a 100% fee-simple interest in the WM Recycle America, LLC facility located at 280 Business Park Drive in Winston-Salem, North Carolina (the Property ). The Property is located within twelve (12) miles of downtown Winston-Salem. Winston-Salem is a growing industrial hub in the area, with easy access to major highways that connect to the majority of the east coast.

WM Recycle America, LLC is operating under a ten (10) year base lease term with approximately nine (9) years remaining, and two (2), five (5) year options. The lease features annual rent increases of 3% through 2016, 2.75% through 2019, and 2.5% through 2022, along with 2.75% annual increases in option periods.

The subject Property is located on Business Park Drive, in the Union Cross Business Park that contains more than ten major industrial companies and their facilities. Headquarter locations for Hutchison Allgood and Liberty Hardware reside in the park as well as major distribution centers for other national and global companies like Pepsi Bottling, HEP Direct, United Furniture, and EWI Worldwide.

Winston-Salem is a city in the U.S. state of North Carolina, with a 2010 population of 229,617. Winston- Salem is the county seat and largest city of Forsyth County and the fifth largest city in the state.

Winston-Salem is the second largest municipality in the Piedmont Triad region and is home to the tallest office building in the region, 100 North Main Street, formerly the Wachovia Building and now known locally as the Wells Fargo Center. Winston-Salem is called the Twin City for its dual heritage and City of the Arts and Innovation for its dedication to fine arts and theater and technological research. Camel City is a reference to the city' s historic involvement in the tobacco industry related to locally based R. J. Reynolds Tobacco Company' s popular Camel cigarettes. Many locals refer to the city as Winston in informal speech.

In Association with: Jeff Hughes, Stan Johnson Company, NC License #101282

Highlights

  • Nine (9) Years Remaining of Base Lease Term WM Recycle America, LLC is operating under a eleven (11) year base lease term
  • Renewal Options - The lease offers Two (2), Five (5) year option periods
  • Rent Increases - Annual increases throughout lease term and option periods
  • Development Potential - Potential to double the footprint of the facility
  • Tenant Investment - WM invested over $5 million in equipment
  • NN Lease LL responsibilities include: roof, structure, and parking

Research

280 Business Park Drive, Winston Salem, NC 27107 (Forsyth County)

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