Hovis Light Industry Park - Double Digit Cap Rate
Online Auction June 14-16, 2021 | Marketplace
Value-add Industrial Warehouse Investment Sale in Dekalb, current net operating income at 78% leased
Additional vacant 13 acres of land where owner could build an additional 130,000 SF structure
Site lies within one mile of two I-88 expressway exits and within 1-hour drive to Chicago Msa
Roof was replaced in 2008 with a Duralast membrane roof and has a 25-year useful life
2,000 AMP three-phase 480V electricity and high-pressure natural million Facebook Data Center is under construction and is located less than 2 miles away from site
New Ferrara candy warehouse being built nearby
Friedman Real Estate Group and are pleased to present Hovis Light Industry Park (The "Property"). The offering is inclusive of a 131,000 SqFt multi-tenant industrial building and 13 acres of vacant land that is shovel ready with infrastructure construction complete. The principal structure was built in 1967, fully renovated in 2008, with improvements to lighting and build outs within the last three years. Current tenants represent a mix of uses including storage, service industry, and some light manufacturing. The unused acreage potential uses include warehouse space, outdoor storage, container storage, or even potential residential redevelopment. With current income, the property represents not only a great investment, but a value-add candidate with the development of the additional acreage. Notable nearby corporations include: Target distribution center, 3M Industrial distribution center, Panduid distribution center, Ferrara manufacturing facility, and a Nestle USA distribution center.
Fisher Auction Company Inc.