5890 I 10 Industrial Pkwy W 89,770 SF Industrial Building Theodore, AL 36582 $8,511,000 ($94.81/SF) 8% Cap Rate

Centennial Advisers presents the opportunity to acquire the fee-simple interest in an 89,770 SF industrial facility situated on approximately 5 acres in Theodore, Alabama, a key industrial submarket within the greater Mobile, Alabama metropolitan area. The property benefits from immediate access to major transportation corridors including Interstate 10 and U.S. Highway 90, providing strong regional connectivity across the Southeast. Located approximately 15 minutes from Mobile, Alabama’s third-largest city, the site sits within a major manufacturing and logistics hub anchored by maritime trade, aerospace, steel production, and industrial manufacturing. Mobile is also home to the Port of Mobile, the state’s only deepwater port, which is undergoing over $1 billion in capital expansion projects.

The asset consists of a specialized heavy industrial manufacturing and service facility purpose-built for machining, repair, and assembly operations. The property includes 40,000 square feet of insulated and air-conditioned space and is equipped for heavy-duty industrial use with six crane ways, 11 crane hooks, and lifting capacities up to 25–30 tons. Ceiling heights range from 16 to 45 feet, supported by 3,500 amps of three-phase power, allowing the facility to handle large-scale industrial components and equipment. The property has also undergone over $3 million in recent capital improvements, including new paving designed for heavy truck access, a 3,000 pound compressed air tank, a 350kW diesel generator, skylights, and upgraded ventilation systems. The property is 100% leased to GEXPRO Services, operating through Frontier Technologies, under a new 10-year triple-net lease extension executed in April 2025. GEXPRO Services is a subsidiary of Distribution Solutions Group, a publicly traded  company on the New York Stock Exchange. The parent company generates approximately $17.3 billion in annual revenue, serves more than 120,000 customers globally, and employs roughly 3,000 people worldwide. Within this platform, GEXPRO Services generates approximately $496 million in annual revenue and employs more than 1,400 people across 30 locations in 9 countries.

The property supports the maintenance, machining, and assembly of critical components used in wind energy infrastructure, an industry experiencing sustained long-term growth. Wind power is currently the largest renewable energy source in the United States, accounting for approximately 10% of total U.S. electricity generation. The country currently operates approximately 73,000 wind turbines producing more than 153,000 megawatts of power, enough electricity to supply roughly 46 million homes. Unlike many other energy sources, 99% of domestic wind energy installations are located on private land, allowing development and maintenance to occur without extensive federal permitting constraints. The global wind energy service and maintenance market was valued at approximately $17.9 billion in 2023 and is projected to grow to $27.24 billion by 2030.

This investment offers stable long-term income backed by a very healthy and strong corporate tenant. The property is offered at an 8% cap rate at the list price, with a blended 10-year cap rate of approximately 8.37%, delivering an attractive 10% cash-on-cash return from day one. With a 25% down payment, investors can effectively recapture their entire initial equity through cash flow over the 10-year lease term.