TestAmerica

5815 Middlebrook Pike Test America Laboratories Inc.
Knoxville , TN 37921-5947

TestAmerica - Industrial for sale

Overview


JLL is pleased to offer for sale the fee-simple interest in an absolute NNN leased TestAmerica located in Knoxville, TN. The property is a freestanding industrial building that is tenanted by (Severn Trent Laboratories, Inc., a Delaware corporation, nka TestAmerica Laboratories, Inc., a Delaware corporation) d/b/a TestAmerica on an absolute NNN lease with over 9 years of contractual lease term remaining and 4% annual increases. The lease is guaranteed by TestAmerica Environmental Services, LLC who is recognized as the leading environmental testing firm in the United States, and has over 80 locations. The Property is strategically positioned along Middlebrook Pike, which sees outstanding daily traffic counts of over 33,000 vehicles daily. The Asset sits 1 mile north of Interstate 40, and is in close proximity to rail access. In the assets vicinity are a hundreds of industrial buildings and warehouses that contain close to 5 million square feet with national tenants like FedEx, USPS, Kinder Morgan, Marathon Petroleum, Citgo and many more.

Investment Highlights


• The tenant has over 9 years of lease term and 4% rental increases every year
• The tenant is on an absolute NNN lease with no landlord responsibilities
• TestAmerica has over 80 location and is recognized as the leading environmental testing firm in the United States
• Well-positioned along Middlebrook Pike, which sees daily traffic counts of over 33,000 vehicles daily
• Over 150,000 residents within a 5 miles radius with an average income of $67,000
• Asset sits in a large industrial region of Knoxville with close proximity to Interstate 40 and rail access with tenants like FedEx, USPS, Kinder Morgan, Marathon Petroleum, Citgo
General
Property Type Industrial
Tenure Type Sale / Purchase
Property Address 5815 Middlebrook Pike Test America Laboratories Inc., Knoxville, TN 37921-5947
Land In Acres 3.11
Building Size 30,435  ft2
Financial
Price $4,476,000
Cap Rate 7.50%
Current NOI $335,724.00
Lease
Lease Type NNN
Lease Expiration Date 06/30/2027
Remaining Term 8.4Yrs

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