200 Westinghouse Cir - Manufacturing FOR SALE


Horseheads, NY 14845
$34,485,000 USD
949-608-2042
200 Westinghouse Cir, Horseheads, NY for Sale
$34,485,000 USD
Manufacturing - FOR SALE
1/6
null | 7.75% Cap Rate

200 Westinghouse Cir
Horseheads, NY 14845


HIGHLIGHTS

  • Institutional Tenancy – Occupied by Eaton Corporation
  • Prime Regional Connectivity linking Buffalo, Rochester, Syracuse, and NYC
  • Multiple Value-Add Paths – In addition to below-market in-place rents, two developable parcels offer expansion or disposition potential
  • Tight Market Fundamentals – Elmira/Corning submarket features 4% industrial vacancy, 40%+ rent growth since 2019, and limited new supply

OVERVIEW

Newmark is pleased to present the opportunity to acquire the fee-simple interest (land & building) in a mission-critical 860,000 SF industrial facility strategically located in Horseheads, NY. Anchored by Southern Tier Logistics (66% of GLA) and Investment-Grade Eaton Corporation (NYSE: ETN | S&P: A- | 21% of GLA), the property benefits from long-term tenancy (Eaton’s tenure exceeds 45 years), recent expansions, and demonstrated tenant commitment through recent seven-year renewals. Situated on 59 acres with direct I-86 frontage, the asset provides exceptional connectivity across the Northeast corridor, supported by $3.1M in recent capital improvements and additional development upside on 8.5 acres of excess land. With in-place rents averaging 20%+ below market, the I-86 Distribution Center offers both stable cash flow and near-term NOI growth—all at a basis significantly below replacement cost. An Offering Memorandum with detailed information is available upon request or by entering your contact information in the following link: https://properties.nmrk.com/I-86-Distribution-Center

FOR SALE DETAILS

PRICE

$34,485,000 USD

PRICE/SF

$40 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

ADD'L SUBTYPES

Distribution, Warehouse, Service

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

UTILITIES

Lighting - Metal Halide, Gas - Natural, Water - City, Sewer - County, Heating - Gas

CLEAR CEILING HT

25 Ft

DOCKS

24

DRIVE INS

5

PARKING SPACES

1800

LAND DETAILS

LAND ACRES

59.25

LAND SF

2,580,930

ZONING

VH08

APN/PARCEL ID

073401-058-016-0001-048-001-0000,073401-058-016-0001-048-002-0000

ASK ABOUT THIS PROPERTY

Samer KhalilNewmarkMore Info
949-608-2042

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Samer KhalilNewmarkMore Info
949-608-2042

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.