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Long-Term NNN Lease with 15% Rent Increase 2427 University Blvd E 11,090 SF Retail Building Tuscaloosa, AL 35404 $9,550,000 ($861.14/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand-New Construction Ideal for Bonus Depreciation - Significant Year-1 tax Shelter and Minimal Near-Term Capital Exposure
- Full Term Corporate Guaranty - Global, Best-in-Class Plasma Pharmaceutical Credit – Kedrion S.p.A
- Long-Term NNN Lease With 15% Rent Increase in Year 3 - 13+ Years Remaining, Cap Rate Increasing to 8.05% in Year 3
- Adjacent to University of Alabama - Prime Frontage Along Tuscaloosa’s Dominant Retail Corridor, Surrounded by UofA Medical Center and Student Housing
EXECUTIVE SUMMARY
Pegasus Investments Real Estate Advisory, in conjunction with ParaSell, Inc., is pleased to present the opportunity to acquire Kedrion (Tuscaloosa, AL), a brand-new, ground-up construction leased to Kedrion Plasma, a longstanding, proven tenant that offers income stability. The property benefits from its new build-to-suit construction, as its specialized buildout enables investors to depreciate a substantial portion of the property in year 1, providing major tax benefits. Furthermore, the Kedrion brand underscores the rising popularity of the plasma industry, as the company has invested over $260M to open 40 additional facilities and $60M to expand its manufacturing facility in Melville, NY. Investors will benefit from both the historic reliability of the tenant and the security of a significant remaining lease term, providing predicable, long-term cash flow with minimal risk.
The property is leased on NNN basis, landlord only responsible for structural repairs and maintenance, making it a true passive investment with the tenant responsible for all taxes, insurance, property expenses, maintenance, and roof repairs. The lease has over 13 years remaining and in addition, provides for above-market rental growth with a 15% rent increase in three years, protecting investors against inflation. Combined with a full-term corporate guaranty from Kedrion S.p.A., one of the world’s leading plasma pharmaceutical companies, this asset offers exceptional credit strength and unparallel income security.
The property is leased on NNN basis, landlord only responsible for structural repairs and maintenance, making it a true passive investment with the tenant responsible for all taxes, insurance, property expenses, maintenance, and roof repairs. The lease has over 13 years remaining and in addition, provides for above-market rental growth with a 15% rent increase in three years, protecting investors against inflation. Combined with a full-term corporate guaranty from Kedrion S.p.A., one of the world’s leading plasma pharmaceutical companies, this asset offers exceptional credit strength and unparallel income security.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
11,090 SF
Year Built
2024
Price
$9,550,000
Price Per SF
$861.14
Cap Rate
7%
NOI
$668,501
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
2.18 AC
Opportunity Zone
Yes
Zoning
GC - GC - General Commercial District
Parking
73 Spaces (6.58 Spaces per 1,000 SF Leased)
Frontage
NEARBY MAJOR RETAILERS
1 of 7
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Long-Term NNN Lease with 15% Rent Increase | 2427 University Blvd E
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