2427 University Blvd E - Freestanding FOR SALE


Tuscaloosa, AL 35404- East Tuscaloosa
$9,550,000 USD
913-669-6422
2427 University Blvd E, Tuscaloosa, AL for Sale
$9,550,000 USD
Freestanding - FOR SALE
1/6
null | 7% Cap Rate

2427 University Blvd E
Tuscaloosa, AL 35404
East Tuscaloosa


HIGHLIGHTS

  • Brand-New Construction Ideal for Bonus Depreciation - Significant Year-1 tax Shelter and Minimal Near-Term Capital Exposure
  • Long-Term NNN Lease With 15% Rent Increase in Year 3 - 13+ Years Remaining, Cap Rate Increasing to 8.05% in Year 3
  • Full Term Corporate Guaranty - Global, Best-in-Class Plasma Pharmaceutical Credit – Kedrion S.p.A
  • Adjacent to University of Alabama - Prime Frontage Along Tuscaloosa’s Dominant Retail Corridor, Surrounded by UofA Medical Center and Student Housing

OVERVIEW

Pegasus Investments Real Estate Advisory, in conjunction with ParaSell, Inc., is pleased to present the opportunity to acquire the fee simple interest in a newly constructed, build-to-suit plasma collection center leased to Kedrion, one of the world’s leading plasma derived pharmaceutical companies, located at 2427 University Boulevard East, Tuscaloosa, Alabama (the “Property”). Completed in 2023, the 11,090-square-foot facility sits on a 2.18-acre parcel and was purpose built to meet Kedrion’s specialized operational requirements. Both landlord and tenant invested substantial capital into the development, underscoring Kedrion’s long-term commitment to the site and positioning the Property at the beginning of its useful life. The modern, medical grade buildout also offers investors the potential for meaningful first year bonus depreciation benefits, enhancing after-tax returns. The Property is leased on a long-term net basis with 13 years of firm term remaining through May 31, 2039, plus a five-year renewal option with CPI-based rent growth. The lease structure provides for above market rental increases, including a 15% rent escalation in Year 6, and a CPI-based increase in Year 11. The landlord’s responsibilities are limited solely to structural components, resulting in an extremely passive ownership profile. Offered at a 7.00% cap rate on in-place NOI, the upcoming rent increase meaningfully enhances future yield while maintaining strong downside protection. The lease is fully guaranteed by Kedrion S.p.A. for the entire term, providing exceptional credit security from a globally scaled pharmaceutical operator.

FOR SALE DETAILS

PRICE

$9,550,000 USD

PRICE/SF

$861 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Long-Term NNN Lease with 15% Rent Increase

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

73

LAND DETAILS

LAND ACRES

2.18 AC

LAND SF

94,961 SF

ZONING

GC

APN/PARCEL ID

30-04-20-2-010-005.000,30-04-20-2-010-006.000,30-04-20-2-010-007.000,30-04-20-2-010-008.000

ASK ABOUT THIS PROPERTY

Katherine WeaverPegasus InvestmentsMore Info
913-669-6422

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Katherine WeaverPegasus InvestmentsMore Info
913-669-6422

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