Property History
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Asking Details
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Marketing Description
Colliers International has been retained as the exclusive advisor for the sale of 4400 Lewisburg Road located in Birmingham, Alabama. The 18.22-acre site features two buildings totaling 57,852 square feet, and is situated on the north side of the Birmingham market. The property serves as the corporate office and operations center for Saiia Construction Company, a wholly owned subsidiary of Infrastructure and Energy Alternatives, Inc. (Nasdaq: IEA). The property entails administrative offices, a repair shop, and a yard area for equipment and material storage.
4400 Lewisburg Road is conveniently located adjacent to the confluence of Interstates 65 and 22. The $168 million interchange completed in 2016 after six years as the single largest project in the history of the Alabama Department of Transportation. The interchange has 14 bridges, 14 ramps, and a four-level stack. Interstate 22 connects Birmingham to Memphis. Interstate 65 connects with Nashville and Indianapolis to the north and Montgomery and Mobile to the south. The asset is located just 9 minutes north of downtown Birmingham.
Investment Highlights
- Absolute Net 20-Year Lease
- Corporately Guaranteed (Nasdaq: IEA)
- 7.00% Cap Rate
- $6.50 PSF Rent
- Excellent Industrial Real Estate Site
Property Type
Property Type
Marketing Description
Colliers International has been retained as the exclusive advisor for the sale of 3900 E White Avenue located in Clinton, Indiana and 4400 Lewisburg Road located in Birmingham, Alabama. The assets are being offered together, but are also available for separate purchase.
- 3900 E WHITE AVENUE is a three story 51,000 SF Headquarters building located in the heart of Clinton, Indiana. Built in 2009 specifically for White Construction, the state of the art LEED Certified Silver building serves as the worldwide Headquarters for White Construction, a wholly owned company of Infrastructure and Energy Alternatives, Inc. (Nasdaq: IEA). This Absolute Net leased asset provides investors the opportunity to acquire a top in market asset at below replacement costs with a long term institutional credit tenant. The absolute net structure of the lease creates a low maintenance investment opportunity while providing yield appreciation through the market rental rate bumps within the contracted lease.
- 4400 LEWISBURG ROAD is an 18.22-acre site serving as home to Saiia Construction Company, a wholly owned subsidiary of Infrastructure and Energy Alternatives, Inc. The site features two buildings with administrative offices, a repair shop, and an expansive graded yard area housing equipment and material storage. The main building comprises 51,852 square feet and the auxiliary building 6,000 square feet, for a total building area of 57,852 square feet. This twenty-year, absolute-net-leased offering provides investors the opportunity to acquire a very well-located, functional asset at far below replacement cost with an institutional credit tenant. The Absolute Net lease structure creates a passive investment opportunity while providing yield appreciation through annual market rental rate bumps within the contracted lease.
Investment Highlights
- 3900 E White Ave
- High Quality LEED Silver certified facility built in 2009
- White Construction is a fully owned subsidiary of Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA)
- White Construction has a 65 year operating history in Clinton, IN
- Long term Absolute Net Lease with 18 years remaining, corporate guaranteed by IEA, with no Landlord responsibilities
- Contracted 1.5% annual rental rate increases provide investors unmatched yield appreciation throughout the term
- 4400 Lewisburg Rd
- Located desirably and strategically along recently completed I-22 and I-65 exchange with excess land
- Saiia Construction has been in operation since 1946 and is a fully-owned subsidiary of Infrastructure and Energy Alternatives, Inc. (“IEA”)
- 20-Year, absolute net lease corporately guaranteed by IEA, with 2.0% annual rent increases
- Strong tilt-up concrete industrial buildings
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