First Impression Ironworks
1440 N Mondel Dr Gilbert , AZ 85233-1206
First Impression Ironworks - Industrial for sale
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
• 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 | 0.2Yrs |
Download Offering Memorandum
Presented By
Primary Contact
Secondary Contact(s)
Broker of Record
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