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Views: 112 DOM: 265 Updated: 08.30.24 Posted: 03.02.24 Status: Active

Summary

Price $2,721,940
Built/Renov 1981/2023
Tenant Sunbelt Rentals
Cap Rate 6.75%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 29,397
Lease Start 05-03-2023
#Units 1,398
Price/SF $92.59
Expiration 06-30-2033
Tenant Type Industrial
NOI $183,731
R. Term 8.7
Ownership Fee Simple
Rent/SF $6.25
Increases 10.0%/4/yrs
Pop 5Mi 120,353
Lot/AC 2.80
Options 3/5yrs/10%
AHHI 5Mi $66,189

Lease Highlights

  • Sunbelt Rentals has 9+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental escalations every 5 years throughout the initial term and each option period
  • Corporate guarantee | Investment grade tenant

Location Description

Sunbelt Rentals is strategically located on American Road, with access to 43,612 vehicles passing by daily. The site enjoys proximity to other industrial facilities, such as Excel Toledo, LKQ Heavy Truck, J&D Core Supply, Top Notch Novelty, and Northern Steel Transport. Additionally, the immediate area is surrounded by national tenants, including Menards, Meijer, ALDI, Wendy’s, McDonald’s,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Sunbelt Rentals
  • Guarantor:Corp T and Rated
  • Company:Ashtead Group
  • # Units:1,398
  • Tenant S&P: BBB
  • Moody’s: Baa3
  • Stock: LSE: AHT

About Tenant

Ashtead (LSE: AHT) is an international equipment rental company, trading under the Sunbelt Rentals brand, with national networks in the U.S., Canada, and the UK. They are the second largest...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,559 34,166 118,557
2023 Total Population : 1,588 34,658 120,353
2023 Employed Civilian Pop : 675 16,644 53,913
2023 Total Businesses : 164 1,179 3,035
2023 Average Household Income : $ 62,409 $ 68,611 $ 66,189
2023 Total Consumer Spending : $ 35 M $ 907 M $ 2941 M
2023 Median Age : 42 41 39
2023 Total Households : 658 15,109 50,731
2023 Pop Age 25+: Bachelor's Degree : 33 2,814 10,050
2023 Average Home Value : $ 99,200 $ 150,747 $ 155,820
*ESRI data is presented for informational purposes only

Listing Broker

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