25401 Elliot Rd, Defiance, Ohio 43512
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
3/27/2020 1:16:34 PM