absolute NNN industrial asset 3726 cohen place, lynchburg, virginia actual location Price $8,500,000 cap rate 6.00% term remaining ±14.5 years lease type absolute nnn investment highlights escalations 2% annually within a 5-mile radius: 8.6 MSF retail 8.4 MSF industrial 7,678 multifamily units lynchburg, va msa population: 260,320 4.3 MSF office Industry-Leading Tenant Maysteel is a Wisconsin-based company that provides custom metal sheet solutions to a defined set of markets that require durable, high-quality kiosks, enclosures, and cabinets. Maysteel operates in 7 locations across North America and employs more than 120 employees at the Lynchburg facility. Maysteel merged with Porter’s Group in December 2019, which provides a significant credit enhancement. Parent Guaranty and Letter of Credit The lease has a guaranty from parent company, Maysteel Investco, LLC. In addition, there is a $300,000 letter of credit that will remain in-place throughout the term. COVID–19 Resistant Tenant Despite the economic impact caused by the COVID-19 pandemic, both this facility and Maysteel as a whole have remained open and continue to thrive. Long-Term Absolute Triple Net Lease with Annual Rent Increases At closing of the merger, Maysteel executed a new 15-year lease which shows their continued commitment to this site. Maysteel’s absolute triple net (NNN) lease has ±14.5 years term remaining and includes 2.00% annual rent increases throughout the term. Densely-Developed Commercial & Retail Corridor The asset is strategically positioned within Lynchburg’s industrial corridor. Surrounding tenants include Delta Star, Harrington Corporation, Parker Integrated Sealing Systems, International Paper, Pepsi Bottling Group, Tomahawk Warehousing Solutions, Flowserve Corporation, Waste Solutions, and Sunbelt Rentals, among many others. The site is also located less than 1 mile east of the 423,000 sq ft River Ridge Mall and Liberty University’s Student Center (15,000 Students). In total, there is more than 8.6 MSF of retail, 4.3 MSF of oﬀice, 8.4 MSF of industrial and 7,678 multifamily units within a 5–mile radius. Dynamic Blue Collar Workforce Lynchburg is well-known for its sizeable and talented blue collar workforce which why it is such a highly attractive destination for manufacturing users. Attractive In–Place Rent This asset presents investors with the rare opportunity to acquire a long-term NNN lease with a credit tenant with a rent that is at or below prevailing market rates. brian pfohl Senior Vice President +1 404 504 7893 [email protected] will pike Vice Chairman +1 404 923 1381 [email protected] Chris bosworth Vice Chairman +1 404 923 1486 [email protected] ryan sciullo CBRE VA Licensee [email protected] © 2020 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk.

absolute NNN industrial asset - images1.loopnet.com · absolute NNN industrial asset 3726 cohen place, lynchburg, virginia actual location Price $8,500,000 cap rate 6.00% term remaining

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a b s o l u t e N N N i n d u s t r i a l a s s e t

3 7 2 6 c o h e n p l a c e , ly n c h b u r g , v i r g i n i aactual location

Price$8,500,000

cap rate6.00%

term remaining±14.5 years

lease typeabsolute nnn

i n v e s t m e n t h i g h l i g h t s

escalations2% annually

within a 5-mile radius:

8.6 MSFretail

8.4 MSFindustrial

7,678multifamily units

lynchburg, va msapopulation: 260,320

4.3 MSFoffice

Industry-Leading TenantMaysteel is a Wisconsin-based company that provides custom metal sheet solutions to a defined set of markets that require durable, high-quality kiosks, enclosures, and cabinets. Maysteel operates in 7 locations across North America and employs more than 120 employees at the Lynchburg facility. Maysteel merged with Porter’s Group in December 2019, which provides a significant credit enhancement.

Parent Guaranty and Letter of CreditThe lease has a guaranty from parent company, Maysteel Investco, LLC. In addition, there is a $300,000 letter of credit that will remain in-place throughout the term.

COVID–19 Resistant TenantDespite the economic impact caused by the COVID-19 pandemic, both this facility and Maysteel as a whole have remained open and continue to thrive.

Long-Term Absolute Triple Net Lease with Annual Rent IncreasesAt closing of the merger, Maysteel executed a new 15-year lease which shows their continued commitment to this site. Maysteel’s absolute triple net (NNN) lease has ±14.5 years term remaining and includes 2.00% annual rent increases throughout the term.

Densely-Developed Commercial & Retail CorridorThe asset is strategically positioned within Lynchburg’s industrial corridor. Surrounding tenants include Delta Star, Harrington Corporation, Parker Integrated Sealing Systems, International Paper, Pepsi Bottling Group, Tomahawk Warehousing Solutions, Flowserve Corporation, Waste Solutions, and Sunbelt Rentals, among many others. The site is also located less than 1 mile east of the 423,000 sq ft River Ridge Mall and Liberty University’s Student Center (15,000 Students). In total, there is more than 8.6 MSF of retail, 4.3 MSF of office, 8.4 MSF of industrial and 7,678 multifamily units within a 5–mile radius.

Dynamic Blue Collar Workforce Lynchburg is well-known for its sizeable and talented blue collar workforce which why it is such a highly attractive destination for manufacturing users.

Attractive In–Place RentThis asset presents investors with the rare opportunity to acquire a long-term NNN lease with a credit tenant with a rent that is at or below prevailing market rates.

brian pfohlSenior Vice President

+1 404 504 [email protected]

will pikeVice Chairman+1 404 923 1381

[email protected]

Chris bosworthVice Chairman

+1 404 923 [email protected]

ryan sciulloCBRE VA Licensee

[email protected]

© 2020 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk.