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Net Lease

Ferguson Enterprises

1077 Oliver Plow Ct, South Bend, IN 46601

Listing Price: $3,200,000

Cap Rate
6.00%
Gross SF
36,000
Price/Gross SF
$88.89
Lot Size
6.24 acres
Year Built
2011
Rentable SF
36,000

Investment Overview

Marcus & Millichap is pleased to present this Ferguson Waterworks located on Oliver Plow Court in South Bend, Indiana. The subject property is a 36,000-square-foot facility sitting on 6.24 acres. Ferguson has occupied this space since 2016. There are over four years of lease term remaining, with one, three-year option to renew. The tenant recently executed a five-year lease, and there is one, three-year option to renew that includes CPI increases. Ferguson is the largest U.S. distributor of plumbing supplies, PVF, waterworks and fire fabrication products. It is the third largest distributor of industrial and HVAC/R products. Ferguson is the nation’s largest distributor of residential and commercial plumbing supplies and pipe, valves and fittings (PVF). However, its expertise goes beyond plumbing. Ferguson is a diverse distributor that spans multiple businesses including HVAC/R, waterworks and industrial. Known as the home to the University of Notre Dame, the South Bend metro is situated in northern Indiana and southern Michigan, roughly 100 miles east of Chicago and 200 miles southwest of Detroit. It consists of St. Joseph and Cass counties. The city of South Bend is the most populous city in the metro, with 102,100 residents. Key drivers of the local economy include food and agriculture, advanced manufacturing, logistics and distribution as well as technology and life science segments.

Investment Highlights

  • Strong Investment Grade Tenant BBB+ with over $23 Billion in Annual Revenue
  • Built in 2011 with a Building Height of 30' and approximately 90% of Site Asphalted
  • Ferguson Recently Executed a 5-Year Lease with a 3-Year Renewal Option that includes 100% CPI Increases Upon Renewal

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Net Lease

Ferguson Enterprises

Listing Price: $3,200,000

Cap Rate
6.00%
Gross SF
36,000
Price/Gross SF
$88.89
Lot Size
6.24 acres
Year Built
2011
Rentable SF
36,000

Investment Highlights

  • Strong Investment Grade Tenant BBB+ with over $23 Billion in Annual Revenue
  • Built in 2011 with a Building Height of 30' and approximately 90% of Site Asphalted
  • Ferguson Recently Executed a 5-Year Lease with a 3-Year Renewal Option that includes 100% CPI Increases Upon Renewal

Investment Overview

Marcus & Millichap is pleased to present this Ferguson Waterworks located on Oliver Plow Court in South Bend, Indiana. The subject property is a 36,000-square-foot facility sitting on 6.24 acres. Ferguson has occupied this space since 2016. There are over four years of lease term remaining, with one, three-year option to renew. The tenant recently executed a five-year lease, and there is one, three-year option to renew that includes CPI increases. Ferguson is the largest U.S. distributor of plumbing supplies, PVF, waterworks and fire fabrication products. It is the third largest distributor of industrial and HVAC/R products. Ferguson is the nation’s largest distributor of residential and commercial plumbing supplies and pipe, valves and fittings (PVF). However, its expertise goes beyond plumbing. Ferguson is a diverse distributor that spans multiple businesses including HVAC/R, waterworks and industrial. Known as the home to the University of Notre Dame, the South Bend metro is situated in northern Indiana and southern Michigan, roughly 100 miles east of Chicago and 200 miles southwest of Detroit. It consists of St. Joseph and Cass counties. The city of South Bend is the most populous city in the metro, with 102,100 residents. Key drivers of the local economy include food and agriculture, advanced manufacturing, logistics and distribution as well as technology and life science segments.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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