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Net Lease

Metal Finishing Technologies

5 Wooster Ct, Bristol, CT 06010

Listing Price: $5,330,000

Cap Rate
6.70%
Gross SF
69,494
Price/Gross SF
$76.70
Lot Size
8.00 acres
Year Built
1969
Rentable SF
69,494

Investment Overview

The subject property is a 69,494 square foot industrial building located in Bristol, Connecticut. The property is 100% occupied by Metal Finishing Technologies (MFT), who has been operating at this location for over 50 years. MFT signed a new 10-year NNN lease in 2020, which includes one 10-year option and 2% increases annually throughout the base term and option, making this a very desirable asset. Of the 69,494 square feet, 4,360 square feet is fully remodeled and furnished office space, which contains a receptionist area, waiting room, kitchenette, conference room, several private offices, a small business office, and a large area of open offices. This state-of-the-art facility is a well-maintained, owner-occupied building that consists of nine ASTM plating lines, Part 145 FAA MRO repair area, leading Digital Imaging Capability, along with the ability to invest in new capabilities and machinery. The business is governed by FAA and other key operating certifications that reside directly with the address (not with the business), further proving MFT’s commitment to this facility. The building was constructed in 1969 with the most recent renovations completed in 2020 and includes three dock high tailboard loading doors and three drive-in doors. The entire facility is equipped with sprinklers along with a complete fire alarm and security system. Over the past 10 years, the tenant has invested roughly $3.5 million into the business and the property including a new transformer, lab, office remodel, new alarm and security system, and more. In 2017, MFT partnered with Connecticut Green Bank and Eversource to implement over $650,000 in energy conservation measures to further evolve their “green story”. These improvements included installing high efficiency transformers, HVAC air handling units, compressors, interior LED lighting, and windows, which will equate to nearly $2 million in energy saving costs over its effective useful life.

Investment Highlights

  • 100% Occupied 69,494 SF Industrial Building
  • NNN Lease | Nine Years Remaining | 10-Year Option | 2 Percent Annual Increases
  • State-Of-The-Art Facility | Award Winning for Energy Efficiency Investments

Exclusively Listed By

  • Laurie Ann Drinkwater

    Senior Vice President Investments

    (617) 896-7230

    Email Laurie Ann

    License(s): CT: REB.0751880, MA: 147511, RI: B 16787

    Boston

  • Seth J. Richard

    Licensed Real Estate Salesperson

    (212) 430-5164

    Email Seth

    License(s): CT: RES- 0764595, NY: 10401275108, MA: 149700

    Manhattan

Broker of Record

  • John Krueger

    Vice President / Regional Manager

    (203) 672-3300

    License(s) CT: REB.0752012

    Connecticut

Net Lease

Metal Finishing Technologies

Listing Price: $5,330,000

Cap Rate
6.70%
Gross SF
69,494
Price/Gross SF
$76.70
Lot Size
8.00 acres
Year Built
1969
Rentable SF
69,494

Investment Highlights

  • 100% Occupied 69,494 SF Industrial Building
  • NNN Lease | Nine Years Remaining | 10-Year Option | 2 Percent Annual Increases
  • State-Of-The-Art Facility | Award Winning for Energy Efficiency Investments

Investment Overview

The subject property is a 69,494 square foot industrial building located in Bristol, Connecticut. The property is 100% occupied by Metal Finishing Technologies (MFT), who has been operating at this location for over 50 years. MFT signed a new 10-year NNN lease in 2020, which includes one 10-year option and 2% increases annually throughout the base term and option, making this a very desirable asset. Of the 69,494 square feet, 4,360 square feet is fully remodeled and furnished office space, which contains a receptionist area, waiting room, kitchenette, conference room, several private offices, a small business office, and a large area of open offices. This state-of-the-art facility is a well-maintained, owner-occupied building that consists of nine ASTM plating lines, Part 145 FAA MRO repair area, leading Digital Imaging Capability, along with the ability to invest in new capabilities and machinery. The business is governed by FAA and other key operating certifications that reside directly with the address (not with the business), further proving MFT’s commitment to this facility. The building was constructed in 1969 with the most recent renovations completed in 2020 and includes three dock high tailboard loading doors and three drive-in doors. The entire facility is equipped with sprinklers along with a complete fire alarm and security system. Over the past 10 years, the tenant has invested roughly $3.5 million into the business and the property including a new transformer, lab, office remodel, new alarm and security system, and more. In 2017, MFT partnered with Connecticut Green Bank and Eversource to implement over $650,000 in energy conservation measures to further evolve their “green story”. These improvements included installing high efficiency transformers, HVAC air handling units, compressors, interior LED lighting, and windows, which will equate to nearly $2 million in energy saving costs over its effective useful life.

Exclusively Listed By

  • Laurie Ann Drinkwater

    Senior Vice President Investments

    (617) 896-7230

    Email Laurie Ann

    License(s): CT: REB.0751880, MA: 147511, RI: B 16787

    Boston

  • Seth J. Richard

    Licensed Real Estate Salesperson

    (212) 430-5164

    Email Seth

    License(s): CT: RES- 0764595, NY: 10401275108, MA: 149700

    Manhattan

Broker of Record

  • John Krueger

    Vice President / Regional Manager

    (203) 672-3300

    License(s): CT: REB.0752012

    Connecticut

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