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Sunbelt Rentals

226 NY-17K, Newburgh, NY 12550

$7,902,517

Cap Rate 6.00%

Views: 116 DOM: 50 Updated: 11.01.24 Posted: 09.25.24 Status: Active

Summary

Price $7,902,517
Built/Renov 2024
Tenant Sunbelt Rentals
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,000
Lease Start 09-18-2024
#Units 1,398
Price/SF $658.54
Expiration 09-17-2034
Tenant Type Industrial
NOI $474,151
R. Term 9.10
Ownership Fee Simple
Rent/SF $39.51
Increases 3.0%/4/yrs
Pop 5Mi 71,653
Lot/AC 5.90
Options 3/5yrs/2%
AHHI 5Mi $117,304

Stratton Greig
Sands Investment Group
Contact

Austin Marsh
Sands Investment Group
Contact

Thomas Miller
Sands Investment Group
Contact

Will Beightol
Sands Investment Group
Contact

Lease Highlights

  • Brand new 2024 construction
  • Brand new 10-year lease with 3 (5-year) options to extend
  • The lease features rental increases of 3% annually in (years 4-5), 2% in (years 6-10) & 2% in options
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Sunbelt Rentals is strategically located on State Highway 17K, with access to 22,370 vehicles passing by daily. The property is in proximity to prominent national tenants and brands, including Amazon Distribution, FedEx, UPS Air Shipping, Estes Express Trucking, Ryder Truck Rental, and a Pilot Travel Center. This prime location near the intersection of I-84 and I-87 allows service to a 45-60...

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Key Features

  • New construction

  • Build to suit

  • Near major nationals

  • Freeway close

  • Top 100 MSA

  • Affluent AHHI $100K 5 Mi

  • Brand new lease

  • Long 10+ yr lease

  • Traded and rated company

  • Investment grade tenant

    • ...

Links

Sunbelt Rentals Wikipedia Ashtead Group Wikipedia Newburgh, New York Zip Code 12550 Broker Site Page

Documents

Download OM

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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Listing Broker

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