Industrial•Warehouse/Distribution•For Sale

Decked Building

25401 Elliot Rd, Defiance, Ohio 43512

Sale Price $5,875,000
Zoning M-3
Bldg Type Single Tenant
Year Built 2018
Vacancy 100%
Gross Bldg 100,000 SqFt
Land Area 13.6 Acres
Ceiling Height 32.0 Ft
Dock High Doors 10
Drive In Doors 2
NNN Industrial Property Investment. Built as a spec building, the current tenant initially leased 50,000sf in 2018 and exercised their option for the entire building at the end of 2019. The new ten-year lease starts February 2020, with large annual bumps. Priced below reproduction cost. Lease rate well below the market rate. Landlord responsible for roof, structure and driveway. DECKED, a private company based in Ketcham, ID, (www.decked.com) is a premier manufacturer of truck bed storage and organization solutions. DECKED revolutionizes in-vehicle storage with an innovative, weatherproof and ergonomic solution for almost every full-size pickup truck and cargo van owner. This is a mission-critical manufacturing location for the company. The subject is located in Defiance, Ohio, a county seat and regional economic hub on US 24 between Toledo, OH, and Fort Wayne, IN. Defiance was ranked the #8 in Site Selection magazine's 2018 Top 100 Micropolitan Areas in the US. General Motors Powertrain, two Johns Manville plants, Defiance Metals Products (NYSE: MEC), Advantage Powder Coating, Keller Logistics, and B&B Molded Products are some of the city's major employers. Harmon Business Park, a 90-acre industrial park, is being developed nearby. Defiance has a rich history dating back to 1794. It is the location of two major hospital campuses that serve a regional medical community. It is also home to Defiance College, a four-year liberal arts college. Northwest State Community College is 14 miles north. Access to I-80/80 Ohio Turnpike, I-69 at Fort Wayne, and I-75 at Toledo are all 30 minutes away. Toledo Express Airport is 40 minutes from the subject.
  • Ten Year NNN Lease with Annual Bumps, Two 5 Yr Options
  • Growing, Award Winning Company in Internet Resistant Niche Market
  • Current Lease Rate Well Below Market
  • 2018 Building Priced Below Replacement Cost
  • Ranked #8 Top 100 Micropolitan Areas by Site Selection Magazine
  • Johns Manville is starting a $50 million expansion across US 24
  • Harmon Business Park, 90-acre industrial park, being developed nearby
1/14/2020 3:01:25 PM 1/16/2020 6:23:45 PM
Mark Baringer
Senior Investment Advisor
NAI Harmon Group
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