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Single-Tenant Industrial

Herc Rentals

1320 Murfreesboro Pike, Nashville, TN 37217

Listing Price: $4,200,000

Cap Rate
6.00%
Lot Size
5.88 acres
Year Built
1999
Rentable SF
26,495

Investment Overview

Marcus & Millichap is pleased to present for your review the single-tenant net leased Herc Rentals (NYSE: HRI) located at 1320 Murfreesboro Pike Rd. in Nashville, Tennessee. The subject property consists of two buildings - showroom with attached "Pro-Solutions" warehouse and a rare detached repair shop - totaling 26,495 square-feet of rentable space. The subject property sits on a 5.88-acres of land with excellent visibility from Murfreesboro Pike Rd and has 2 access points to the premises. Built in 1999 as as built to suit for Herc Rentals, the property is directly adjacent to the Nashville International Airport in the high demand, low vacancy (-4%) corridor of southeast Nashville along Murfreesboro Pike Rd. The inherent long-term real estate value cannot be overstated. Herc Rentals (NYSE: HRI) is one of the leading equipment rental companies in North America with over 282 locations in 39 states, Herc Rentals serves the rapidly expanding housing and construction sector with the largest demographic of early 30’s American’s forming households as well as the much talked about infrastructure bill, which receives bi-partisan support for the repair of bridges, highways, roads, broadband internet, new schools and power lines. Herc Rentals (NYSE: HRI) stock is up 786% from the pandemic low in 2020 and has seen explosive EBITA growth, YOY. (see p. 15-16) Herc Rentals has been on Murfreesboro Pike Rd. for 22 year and currently has over 4 years remaining in the current option period and have two additional five (5) year options remaining to with significant increases in each. Tenant is under a NN lease with corporate guarantee and minimal landlord responsibilities.

Investment Highlights

  • Herc Holdings Inc. (NYSE: HRI) Stock Up 786% from Pandemic Low | Explosive Q1 With 40.7% Adjusted EBITDA Margin
  • 5.88 Acres of Land | Low Vacancy Corridor of Southeast Nashville | Adjacent to Nashville International Airport
  • Build To Suit For Herc Rentals in 1999 | 22 year Op. History
  • Minimal Landlord Responsibility | Tenant Pays All NNN Expenses, Direct
  • Two Additional Five Year Options With 9% and 13% Rent Escalations, Respectively
  • Additional Repair Shop with 12 Garage Doors | Rare For Herc Locations
  • "Pro-Solutions" Warehouse Attached To Showroom | Key Revenue Driver for Herc Rentals
  • Steel Beam Construction | 20' Clear Height In Warehouse & Repair Shop

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Listing Price: $4,200,000

Cap Rate
6.00%
Lot Size
5.88 acres
Year Built
1999
Rentable SF
26,495

Investment Highlights

  • Herc Holdings Inc. (NYSE: HRI) Stock Up 786% from Pandemic Low | Explosive Q1 With 40.7% Adjusted EBITDA Margin
  • 5.88 Acres of Land | Low Vacancy Corridor of Southeast Nashville | Adjacent to Nashville International Airport
  • Build To Suit For Herc Rentals in 1999 | 22 year Op. History
  • Minimal Landlord Responsibility | Tenant Pays All NNN Expenses, Direct
  • Two Additional Five Year Options With 9% and 13% Rent Escalations, Respectively
  • Additional Repair Shop with 12 Garage Doors | Rare For Herc Locations
  • "Pro-Solutions" Warehouse Attached To Showroom | Key Revenue Driver for Herc Rentals
  • Steel Beam Construction | 20' Clear Height In Warehouse & Repair Shop

Investment Overview

Marcus & Millichap is pleased to present for your review the single-tenant net leased Herc Rentals (NYSE: HRI) located at 1320 Murfreesboro Pike Rd. in Nashville, Tennessee. The subject property consists of two buildings - showroom with attached "Pro-Solutions" warehouse and a rare detached repair shop - totaling 26,495 square-feet of rentable space. The subject property sits on a 5.88-acres of land with excellent visibility from Murfreesboro Pike Rd and has 2 access points to the premises. Built in 1999 as as built to suit for Herc Rentals, the property is directly adjacent to the Nashville International Airport in the high demand, low vacancy (-4%) corridor of southeast Nashville along Murfreesboro Pike Rd. The inherent long-term real estate value cannot be overstated. Herc Rentals (NYSE: HRI) is one of the leading equipment rental companies in North America with over 282 locations in 39 states, Herc Rentals serves the rapidly expanding housing and construction sector with the largest demographic of early 30’s American’s forming households as well as the much talked about infrastructure bill, which receives bi-partisan support for the repair of bridges, highways, roads, broadband internet, new schools and power lines. Herc Rentals (NYSE: HRI) stock is up 786% from the pandemic low in 2020 and has seen explosive EBITA growth, YOY. (see p. 15-16) Herc Rentals has been on Murfreesboro Pike Rd. for 22 year and currently has over 4 years remaining in the current option period and have two additional five (5) year options remaining to with significant increases in each. Tenant is under a NN lease with corporate guarantee and minimal landlord responsibilities.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

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