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Warehouse

Foundation Building Materials and Fortune Companies, Inc.

2103 N Webster St, Kokomo, IN 46901

Listing Price: $1,187,557

Cap Rate
7.00%
Gross SF
37,528
Price/Gross SF
$31.64
Lot Size
2.38 acres
Year Built
1917
Rentable SF
37,528

Investment Overview

Marcus & Millichap is pleased to present this two-tenant industrial property located at the northeast corner of North Davis Road and West Morgan Street in Kokomo, Indiana. Foundation Building Materials occupies 26,934 square feet and Fortune Companies, Inc. occupies 10,594 square feet. The total building square footage is 37,528 square feet sitting on 2.38 acres. Foundation Building Materials is in unit 2107. The lease is modified gross with approximately two years remaining. FBM has over 180 locations across the United States and Canada and the company has a significant geographic reach into most major building materials markets. FBM specializes in the local supply of building materials such as drywall, steel studs, lath, plaster, stucco, acoustical ceilings, insulation, fiberglass reinforced plastic (FRP), and exterior insulation finish systems (EIFS). Additionally, FBM offers a wide variety of commercial-grade construction tools, drywall hand tools, fasteners, and construction supplies for residential and commercial projects. Fortune Companies, Inc. is in unit 2103. This tenant will sign a five-year, triple net lease upon close of escrow. Fortune Companies was founded by Scott Pitcher to pursue his vision of a thriving downtown community. Through the years, historical buildings in downtown Kokomo have been rescued and transformed into architectural landmarks while smaller architectural pieces were blended to create beautiful and striking facades. Beginning with the class A revolution of the city’s 100-year-old City Building and hundreds of projects completed, Scott Pitcher is still setting the standard for the community’s urban revitalization. Kokomo is a city in Indiana and the county seat of Howard County, Indiana. It is approximately 50 miles north of Indianapolis.

Investment Highlights

  • Foundation Building Materials (FBM) is a leading North American Distribution Company of Building and Construction Materials
  • Both FBM and Fortune Companies, Inc. are Approximately 50% Below Market Rent
  • 5-Year Sale Leaseback with a Personal Guarantee at Close of Escrow

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

Warehouse

Foundation Building Materials and Fortune Companies, Inc.

Listing Price: $1,187,557

Cap Rate
7.00%
Gross SF
37,528
Price/Gross SF
$31.64
Lot Size
2.38 acres
Year Built
1917
Rentable SF
37,528

Investment Highlights

  • Foundation Building Materials (FBM) is a leading North American Distribution Company of Building and Construction Materials
  • Both FBM and Fortune Companies, Inc. are Approximately 50% Below Market Rent
  • 5-Year Sale Leaseback with a Personal Guarantee at Close of Escrow

Investment Overview

Marcus & Millichap is pleased to present this two-tenant industrial property located at the northeast corner of North Davis Road and West Morgan Street in Kokomo, Indiana. Foundation Building Materials occupies 26,934 square feet and Fortune Companies, Inc. occupies 10,594 square feet. The total building square footage is 37,528 square feet sitting on 2.38 acres. Foundation Building Materials is in unit 2107. The lease is modified gross with approximately two years remaining. FBM has over 180 locations across the United States and Canada and the company has a significant geographic reach into most major building materials markets. FBM specializes in the local supply of building materials such as drywall, steel studs, lath, plaster, stucco, acoustical ceilings, insulation, fiberglass reinforced plastic (FRP), and exterior insulation finish systems (EIFS). Additionally, FBM offers a wide variety of commercial-grade construction tools, drywall hand tools, fasteners, and construction supplies for residential and commercial projects. Fortune Companies, Inc. is in unit 2103. This tenant will sign a five-year, triple net lease upon close of escrow. Fortune Companies was founded by Scott Pitcher to pursue his vision of a thriving downtown community. Through the years, historical buildings in downtown Kokomo have been rescued and transformed into architectural landmarks while smaller architectural pieces were blended to create beautiful and striking facades. Beginning with the class A revolution of the city’s 100-year-old City Building and hundreds of projects completed, Scott Pitcher is still setting the standard for the community’s urban revitalization. Kokomo is a city in Indiana and the county seat of Howard County, Indiana. It is approximately 50 miles north of Indianapolis.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

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