1946 W Cook Rd, Fort Wayne, IN 46818
Zetabid is pleased to present this NNN single tenant leased investment for sealed bid auction. 100% leased, investor owned, industrial flex, research and development (R&D) property located in suburban Allen County Indiana. This 82,821 square foot property resides in a well established technology park setting and sits on 10.34 acres of land with plenty of parking. The property consists of four buildings with easy access to I-69 and is less than 2 hours away from Indianapolis. Regal Beloit Corporation is a long term tenant and committed to the facility evidenced by its construction of a $500,000 anochoic chamber along with significant improvements for 2019. Please visit Zetabid.com for auction & property information and our Due Diligence Vault for the Confidential Offering Memorandum and other important documents. Pre-Auction Offers are welcome!
The buildings are fully stabilized, being 100% occupied. Single tenant Regal Beloit Corporation provided $3.2 Billion of revenue in 2016. With total Shareholder return of 20% and the strongest free cash flow in Regal’s history (184%), the company defines stability, resulting in cash flow security. Regal Beloit recently demonstrated its commitment to this property by exercising its option to renew its lease at 1946 West Cook Road through October, 2023. Their long term, self-funded, improvements to the property not only enhanced the value, but also solidified Regal Beloit as a future long term fixture at the property. Enhancements are highlighted by the construction of a $500,000 Anechoic Chamber (i.e. sound proof room) in 2006, and planned 2019 improvements to the building exterior facades and plaza pavers, funded by Regal Beloit, speaks to the proactive nature of the preventive maintenance and capital improvements mindset that exists.
Key Investment Highlights:
Excellent location in the Outlying Allen County submarket, an established industrial and office park setting of Fort Wayne
Strong credit tenant with committed long term lease
Easily accessible, in the heart of several major thoroughfares, notably I-469 and I-69
Investor owned and maintained property
Ongoing Landlord improvements include painting ($40,000) and front entrance replacement to be completed in 2018