Shallow Bay Industrial For Sale

Highlights:

• VALUE ADD OPPORTUNITY - Tenants are operating on short-term leases with below market rents with room to improve and increase the NOI, giving an investor the chance to either restructure the leases or reposition the asset.
• HIGH QUALITY FACILITY – The ±15,450 SF facility was constructed in 2003 and has been expertly maintained. The building features metal construction, 13 grade-level doors, 14’-16’ clear heights, and ample parking.
• SUBMARKET FUNDAMENTALS – With little industrial development or supply over the past 18 months, landlords have been able to push rental rates much higher than the metro average as the market becomes tighter. Industrial vacancies in the submarket are hovering near all-time lows, as tenants continue to have difficulty finding available facilities with adequate parking.
• BELOW REPLACEMENT COST – Industrial development costs have been significantly rising in recent years. Developing industrial buildings in key markets can be close to $200/SF.  
• STRONG DEMOGRAPHICS – The population within the surrounding 5-miles is a huge 96,593 residents, with an average household income of $63,354 and over $1.1B in consumer spending.

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