Available For Sale - Industrial , Warehouse

21,491 SF | Show Pricing $

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AVAILABILITY DETAILS

Size
21,491 SF
Price/SF
Show Pricing $
Listing ID
SA416628
Notes
STRONG TENANT FINANCIALS

This investment features a corporately guaranteed lease from TruGreen Lawn Care, the official lawn care partner of the PGA Tour. TruGreen saw revenues in excess of $1B in 2018. Continued success has allowed the company to expand its footprint across the U.S. to over 300 branches.

INTERNET-PROOF BUSINESS

TruGreen is a service-oriented business, which insulates the investment from the rapidly growing e-commerce industry, sheltering it from web-based competitors such as Amazon.

DIVERSIFIED SERVICE-BASED INCOME STREAM

Having two tenants securing rent gives the investor a diversified income stream, limiting the risk of a total default and loss of revenue income. Additionally, the tenants both offer a service-based business, which accounted for +/- 67% of consumer spending in 2019.

INDUSTRIAL ASSET CLASS

Industrial assets have proven to be a very popular investment vehicle due to multiple factors including e-commerce growth, global trade demand, growing consumer demands, and a need for retailers to optimize their supply chain. The favorable market environment has made industrial properties strong long-term performing assets with minimal turnover costs compared to other property types.

HIGHLY POPULATED AREA

The subject property is positioned within the Salt Lake City MSA, which is Utah’s most highly populated metropolitan area. The area within a 10-mile radius of the property is projected to have a +/- 6.24% population increase within the next 4 years, which will bring the surrounding population to over 1M residents.

TENANTS DEEMED ESSENTIAL BUSINESSES

Both tenants occupying this space were deemed essential businesses as they have continued operations throughout the COVID-19 crisis. The service-based business models and continued operations help insulate the businesses from the negative financial effects of the COVID crisis and the ongoing effects.

RECESSION-RESISTANT TENANCY

There has been a 29% increase in the price of new cars within the last +/- 10 years. As new cars continue to become more expensive, the Used Car Factory will likely be the choice of consumers who need to purchase a vehicle during an economic downturn.
Uses
Industrial
Warehouse

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Nolan Johnson, B+E Net Lease