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Single-Tenant Industrial

Phoenix America

4717 Clubview Dr, Fort Wayne, IN 46804

Listing Price: $1,200,000

Cap Rate
8.00%
Gross SF
24,000
Price/Gross SF
$50.00
Lot Size
2.35 acres
Year Built
1980
Rentable SF
48,000

Investment Overview

The DiSalvo Group of Marcus & Millichap is pleased to present to market Phoenix America of Fort Wayne, Indiana. Located within the Engle Ridge industrial corridor of the Fort Wayne MSA, the asset spans 24,000 square-feet, comprised of 9.3% professional office and 90.7% Industrial Manufacturing space serving as Phoenix Americas headquarters for eighteen years. Constructed in 1980 with steel framing above a 4 concrete block frame wall, the asset sits on 2.33 acres and provides easy access to I-69, US-30, and US-24. Since 2000 Phoenix America leads the introduction of magnetic encoder and magnetic sensor solutions through developing not only robust encoder packaging but custom magnetic materials, thus ensuring a complete magnetic solution from a single engineering-driven organization. In 2020 Phoenix America was acquired by the LSE-listed discoverIE Group plc (LSE: DSCV), which has provided a strategic fit within their Design & Manufacturing Division, enabling cross selling for both European and US markets.

South Fort Wayne is a very large submarket, containing roughly 20.6 million square feet of industrial space. Rents in the Fort Wayne MSA rose at a 1.5% annual rate during the second quarter of 2021, and have posted an average annual gain of 2.9% over the past three years. Fort Waynes low vacancy rate of roughly 5.3% has been in line with the 10-year average as of 2021, and little has changed over the past four quarters. Phoenix America is strategically positioned for all investors, as a single tenant, NNN leased asset featuring a new 4.5 year lease including one five (5) year option. Provided the strength of the tenant and minimal landlord responsibilities, Phoenix America makes for an ideal acquisition opportunity for an investor seeking a hands off opportunity with fantastic returns.

Fort Wayne is a city in the U.S. state of Indiana and the seat of Allen County, United States. Located in northeastern Indiana, the city is 18 miles west of the Ohio border and 50 miles south of the Michigan border. With a population of 270,402 based on the 2019 Estimated U.S. Census, it is the second-most populous city in Indiana after Indianapolis, and the 75th-most populous city in the United States. It is the principal city of the Fort Wayne metropolitan area, consisting of Allen, Wells, and Whitley counties, a combined population of 419,453 as of 2011. Fort Wayne is the cultural and economic center of northeastern Indiana.

Investment Highlights

  • Very High Historical Occupancy
  • Single Tenant 4.5 Year NNN Lease with One-Five (5) year option
  • Minimal Landlord Responsibilities I 11% Cash-on-Cash Day-One
  • Strategic Location | Access to I-69, US-30, and US-24

Exclusively Listed By

Single-Tenant Industrial

Phoenix America

Listing Price: $1,200,000

Cap Rate
8.00%
Gross SF
24,000
Price/Gross SF
$50.00
Lot Size
2.35 acres
Year Built
1980
Rentable SF
48,000

Investment Highlights

  • Very High Historical Occupancy
  • Single Tenant 4.5 Year NNN Lease with One-Five (5) year option
  • Minimal Landlord Responsibilities I 11% Cash-on-Cash Day-One
  • Strategic Location | Access to I-69, US-30, and US-24

Investment Overview

The DiSalvo Group of Marcus & Millichap is pleased to present to market Phoenix America of Fort Wayne, Indiana. Located within the Engle Ridge industrial corridor of the Fort Wayne MSA, the asset spans 24,000 square-feet, comprised of 9.3% professional office and 90.7% Industrial Manufacturing space serving as Phoenix Americas headquarters for eighteen years. Constructed in 1980 with steel framing above a 4 concrete block frame wall, the asset sits on 2.33 acres and provides easy access to I-69, US-30, and US-24. Since 2000 Phoenix America leads the introduction of magnetic encoder and magnetic sensor solutions through developing not only robust encoder packaging but custom magnetic materials, thus ensuring a complete magnetic solution from a single engineering-driven organization. In 2020 Phoenix America was acquired by the LSE-listed discoverIE Group plc (LSE: DSCV), which has provided a strategic fit within their Design & Manufacturing Division, enabling cross selling for both European and US markets.

South Fort Wayne is a very large submarket, containing roughly 20.6 million square feet of industrial space. Rents in the Fort Wayne MSA rose at a 1.5% annual rate during the second quarter of 2021, and have posted an average annual gain of 2.9% over the past three years. Fort Waynes low vacancy rate of roughly 5.3% has been in line with the 10-year average as of 2021, and little has changed over the past four quarters. Phoenix America is strategically positioned for all investors, as a single tenant, NNN leased asset featuring a new 4.5 year lease including one five (5) year option. Provided the strength of the tenant and minimal landlord responsibilities, Phoenix America makes for an ideal acquisition opportunity for an investor seeking a hands off opportunity with fantastic returns.

Fort Wayne is a city in the U.S. state of Indiana and the seat of Allen County, United States. Located in northeastern Indiana, the city is 18 miles west of the Ohio border and 50 miles south of the Michigan border. With a population of 270,402 based on the 2019 Estimated U.S. Census, it is the second-most populous city in Indiana after Indianapolis, and the 75th-most populous city in the United States. It is the principal city of the Fort Wayne metropolitan area, consisting of Allen, Wells, and Whitley counties, a combined population of 419,453 as of 2011. Fort Wayne is the cultural and economic center of northeastern Indiana.

Exclusively Listed By

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