First Impression Ironworks

1440 N Mondel Dr Gilbert , AZ 85233-1206

First Impression Ironworks - Industrial for sale

Download Offering Memorandum

Overview


JLL is pleased to offer for sale the fee-simple interest in 4 industrial buildings located adjacent to each other in Gilbert, AZ, leased to First Impression Ironworks. Owner user buildings with yard space are in high demand, with market comparables trading over $120/SF.

Investment Highlights


• 31,617 square feet of industrial space in 4 buildings situated on 3.11 acres with rare yard space
• Absolute NNN lease with no landlord responsibilities
• Tenant has 0.9 years of lease term remaining with 3, 1-year renewal options. Tenant must provide renewal notice 120 days prior to lease expiration
• Incredibly low industrial market vacancy of 2.5% across 2,620,000 SF
• Prime growing Gilbert market with great highway access to U.S. 60, Loop 101, Loop 202
• Highly sought-after area for Owner - Users willing to pay a premium to purchase existing properties with yard space
General
Property Type Industrial
Property Subtype Manufacturing
Tenure Type Sale / Purchase
Property Address 1440 N Mondel Dr, Gilbert, AZ 85233-1206
Land In Acres 3.11
Building Size 31,617  ft2
Financial
Price $3,850,000
Cap Rate 6.99%
Current NOI $268,992.00
Lease
Tenant's Name First Impression Iron Works, Incorporated
Lease Expiration Date 07/11/2019
Remaining Term 0.1Yrs

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