Investment Overview

Marcus & Millichap is please to present for sale the fee-simple interest offering of 650 Race Street, Rockford, IL. The subject property is a 200,412 square-foot facility that will be offered to be purchased as a sale-leaseback, which will be executed at close of escrow. The building is currently occupied by Piranha, a leading provider of metal fabrication and cutting equipment company. At close of escrow, current ownership will be offering a sign a 15-year lease with multiple 5-year options to renew. The offering will operate on an absolute net lease structure, containing zero landlord responsibilities. The property is located in Rockford which was ranked the 5th largest city in the state of Illinois according to the 2023 population census (147,389). The purchase of this offering presents an investor with the opportunity to acquire a completely passive industrial investment. At the current list price of $6,500,000 the offering will generate an NOI of $601,236 which equates to a capitalization rate of 9.25%