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Single-Tenant Industrial

TRC Recreation

908 N Beverly Dr, Wichita Falls, TX 76306

Listing Price: $1,615,000

Cap Rate
10.00%
Gross SF
76,728
Price/Gross SF
$21.05
Lot Size
5.59 acres
Year Built
1970
Rentable SF
76,728

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 908 North Beverly Drive in Wichita Falls, Texas leased to TRC Recreation, LP. The subject property consists of approximately 76,728 square feet of warehouse space and is situated on 5.59 acres of land. The asset features tilt-wall office, a 25’ clear height, and seven grade-level doors. The owner recently improved the building’s marketability by coating the roof and offering a ten-year warranty to prospective buyers. With easy access to major highways such as Interstate 44, the property is strategically located near the Sheppard Air Force Base. Given that the Base represents the largest employer in the city, the Chamber of Commerce has incentivized aerospace, aviation, and manufacturing companies to relocate to the area. However, with only four industrial properties available for lease between 15,000 and 100,000 square feet, there is less leasing competition for this size of industrial property. The subject property is fully leased by TRC Recreation on a triple net lease with two years remaining. TRC Recreation utilizes the property as one of its manufacturing sites and national headquarters. For over 60 years, TRC Recreation has been a leading innovator and producer of vinyl-coated foam flotation products. The company pioneered the Ski-Master Vinyl-Coated Ski Belt as its first product, and today manufactures a variety of consumer products marketed under the trademark TRC Super Soft. To reduce the release of harmful chemicals, TRC Recreation utilizes green technology at both of its manufacturing facilities in Texas. Home to Sheppard Air Force Base, the area’s largest employer, Wichita Falls is a proud military community. Sheppard gives the community a unique perspective on diversity and inclusivity as they employ people from all over the nation and up to 14 different NATO countries as part of the Euro-NATO Joint Jet Pilot Training Program. Located less than a two-hour drive from both Dallas/Fort Worth and Oklahoma City, Wichita Falls offers scores of routes and effortless road travel in and out of the city. Wichita Falls was ranked No. 1 of the Top 10 Cities for Working Families in 2020 by SmartAsset. The area’s largest employers include: U.S. Air Force, United Regional Health Care System, Howmet, Vitro PPG, Sealed Air Cryovac, The Results Companies, AT&T, Community Healthcare Center, Pratt & Whitney, and Covercraft. (wichitafallschamber.com)

Investment Highlights

  • 76,728 Square-Foot Industrial Asset Situated on 5.59 Acres
  • Features Tilt-Wall Office, 25' Clear Height, and Seven Grade-Level Doors
  • Roof was Recently Coated Improving Leasability, Offering a Ten Year Warranty
  • Fully Occupied by TRC Recreation on NNN Lease with Two Years Remaining
  • Wichita Falls Currently Only Has Four Industrial Properties Available For Lease Between 15,000 to 100,000 Square-Feet (CoStar)
  • Sheppard Air Force Base is the City's Largest Employer, Leading the Chamber of Commerce to Target the Aerospace, Aviation, and Manufacturing Industries with Incentives
  • Strategically Located Industrial Warehouse with Proximate Access to Major Freeways

Exclusively Listed By

Financing By

Single-Tenant Industrial

TRC Recreation

Listing Price: $1,615,000

Cap Rate
10.00%
Gross SF
76,728
Price/Gross SF
$21.05
Lot Size
5.59 acres
Year Built
1970
Rentable SF
76,728

Investment Highlights

  • 76,728 Square-Foot Industrial Asset Situated on 5.59 Acres
  • Features Tilt-Wall Office, 25' Clear Height, and Seven Grade-Level Doors
  • Roof was Recently Coated Improving Leasability, Offering a Ten Year Warranty
  • Fully Occupied by TRC Recreation on NNN Lease with Two Years Remaining
  • Wichita Falls Currently Only Has Four Industrial Properties Available For Lease Between 15,000 to 100,000 Square-Feet (CoStar)
  • Sheppard Air Force Base is the City's Largest Employer, Leading the Chamber of Commerce to Target the Aerospace, Aviation, and Manufacturing Industries with Incentives
  • Strategically Located Industrial Warehouse with Proximate Access to Major Freeways

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 908 North Beverly Drive in Wichita Falls, Texas leased to TRC Recreation, LP. The subject property consists of approximately 76,728 square feet of warehouse space and is situated on 5.59 acres of land. The asset features tilt-wall office, a 25’ clear height, and seven grade-level doors. The owner recently improved the building’s marketability by coating the roof and offering a ten-year warranty to prospective buyers. With easy access to major highways such as Interstate 44, the property is strategically located near the Sheppard Air Force Base. Given that the Base represents the largest employer in the city, the Chamber of Commerce has incentivized aerospace, aviation, and manufacturing companies to relocate to the area. However, with only four industrial properties available for lease between 15,000 and 100,000 square feet, there is less leasing competition for this size of industrial property. The subject property is fully leased by TRC Recreation on a triple net lease with two years remaining. TRC Recreation utilizes the property as one of its manufacturing sites and national headquarters. For over 60 years, TRC Recreation has been a leading innovator and producer of vinyl-coated foam flotation products. The company pioneered the Ski-Master Vinyl-Coated Ski Belt as its first product, and today manufactures a variety of consumer products marketed under the trademark TRC Super Soft. To reduce the release of harmful chemicals, TRC Recreation utilizes green technology at both of its manufacturing facilities in Texas. Home to Sheppard Air Force Base, the area’s largest employer, Wichita Falls is a proud military community. Sheppard gives the community a unique perspective on diversity and inclusivity as they employ people from all over the nation and up to 14 different NATO countries as part of the Euro-NATO Joint Jet Pilot Training Program. Located less than a two-hour drive from both Dallas/Fort Worth and Oklahoma City, Wichita Falls offers scores of routes and effortless road travel in and out of the city. Wichita Falls was ranked No. 1 of the Top 10 Cities for Working Families in 2020 by SmartAsset. The area’s largest employers include: U.S. Air Force, United Regional Health Care System, Howmet, Vitro PPG, Sealed Air Cryovac, The Results Companies, AT&T, Community Healthcare Center, Pratt & Whitney, and Covercraft. (wichitafallschamber.com)

Exclusively Listed By

Financing By

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