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Single-Tenant Industrial

Performance Elastomers - Aurora

1205 Danner Dr, Aurora, OH 44202

Listing Price: $1,864,000

Cap Rate
7.00%
Gross SF
30,708
Price/Gross SF
$60.70
Lot Size
3.50 acres
Year Built
1993
Rentable SF
30,708

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale a portfolio of two single-tenant net leased industrial properties located in Northeast Ohio. Both properties are occupied by Performance Elastomers Corporation, which specializes in manufacturing dense and sponge elastomer products, including both rubber-based and thermoplastic elastomers (“TPEs”), used in recreational vehicle, automotive aftermarket, marine and heavy equipment applications. Established in 1992 by the building’s owners, the company was acquired in 2021 by Pexco, LLC, a leading North American specialty plastics extruder. After the acquisition, ownership leased the properties back to their former company for a 5-year term on a flat NNN basis beginning December 1, 2021. There are two 5-year options each with a 3% bump. The landlord is responsible for the roof, major structure, and HVAC replacement. The tenant is responsible for all operating expenses. The tenant has expressed their desire to remain at both locations for the long term because of its strategic location. Both buildings are metal and masonry construction, fungible, and in excellent condition and well maintained. These properties are the perfect investment for the savvy investor looking to build value and as an inflation hedge by taking advantage of the high industrial demand of the Portage County submarket.

Investment Highlights

  • 30,708 square feet
  • the second largest of Akron's industrial submarkets
  • In a class A industrial park
  • 15-year tax abatement on new construction

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s) OH: BRK.2007005898

    Ohio

Financing By

Single-Tenant Industrial

Performance Elastomers - Aurora

Listing Price: $1,864,000

Cap Rate
7.00%
Gross SF
30,708
Price/Gross SF
$60.70
Lot Size
3.50 acres
Year Built
1993
Rentable SF
30,708

Investment Highlights

  • 30,708 square feet
  • the second largest of Akron's industrial submarkets
  • In a class A industrial park
  • 15-year tax abatement on new construction

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale a portfolio of two single-tenant net leased industrial properties located in Northeast Ohio. Both properties are occupied by Performance Elastomers Corporation, which specializes in manufacturing dense and sponge elastomer products, including both rubber-based and thermoplastic elastomers (“TPEs”), used in recreational vehicle, automotive aftermarket, marine and heavy equipment applications. Established in 1992 by the building’s owners, the company was acquired in 2021 by Pexco, LLC, a leading North American specialty plastics extruder. After the acquisition, ownership leased the properties back to their former company for a 5-year term on a flat NNN basis beginning December 1, 2021. There are two 5-year options each with a 3% bump. The landlord is responsible for the roof, major structure, and HVAC replacement. The tenant is responsible for all operating expenses. The tenant has expressed their desire to remain at both locations for the long term because of its strategic location. Both buildings are metal and masonry construction, fungible, and in excellent condition and well maintained. These properties are the perfect investment for the savvy investor looking to build value and as an inflation hedge by taking advantage of the high industrial demand of the Portage County submarket.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s): OH: BRK.2007005898

    Ohio

Financing By

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