A modern office / warehouse, built in 2006 and substantially extended in 2012. Our clients were local investors. After being invited into the 2nd round of an EOI campaign, our clients purchased the property at a price of $9,030,000. The AAA tenant is a subsidiary of a New York Stock Exchange listed packaging company with a 6 year lease. The purchase price reflected a true net return of 6.1 % on $550,000 rental being the passing rent at settlement.
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