31 E L Morgan Dr - Warehouse FOR SALE


Jackson, TN 38305
$3,529,000 USD
404-823-6375
31 E L Morgan Dr, Jackson, TN for Sale
$3,529,000 USD
Warehouse - FOR SALE
1/5
null | 8.5% Cap Rate

31 E L Morgan Dr
Jackson, TN 38305


OVERVIEW

MISSION CRITICAL Adjacent to Ascend’s 350,000 SF bulk warehouse, the subject facility services their entire tractor-trailer fleet. All of Ascend’s operations staff is also located in this building. NEW FIVE-YEAR NET LEASE (SALE LEASEBACK) The tenant will execute a new five-year lease with annual escalations upon close of escrow. AT-MARKET RENTS; TIGHT MARKET Rent for the facility is at or below market and area vacancy is 2.8% STRATEGIC LOGISTICS POINT I-40 location midway between Nashville and Memphis has attracted other national and super regional carriers. THE WEST TENNESSEE REGION The Jackson MSA has an economic base of +400,000 consumers and +15 manufacturing plants. LIMITED LANDLORD RESPONSIBILITIES Landlord’s responsibilities are limited to capital repairs of the Roof and Structure. SECTOR-LEADING TENANT Ascend Distribution is a super-regional carrier, and successor to Milan Trucking, with a 55-year track record serving Fortune 500 clients, with 750 semi-tractors and over 2,750 trailers.

FOR SALE DETAILS

PRICE

$3,529,000 USD

PRICE/SF

$123 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ascend Fleet Maintenance & Operations

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

ADD'L SUBTYPES

Distribution

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

18

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

8.25

LAND SF

359,370

ZONING

-

APN/PARCEL ID

057-041.01

ASK ABOUT THIS PROPERTY

Robert PoirierNorthmarqMore Info
404-823-6375

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Robert PoirierNorthmarqMore Info
404-823-6375

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