FleetPride | 10-Year NNN Lease
Mission Critical Location | Springfield MA-CT MSA
Marketing description
FleetPride: A Highly Reputable, B- Rated Industrial Tenant With Over 300 Locations Across the U.S.
Mission-Critical Location: FleetPride Has Operated at This Site for Over 20 Years and Recently Committed to a 10-Year Lease Extension, Proving the Tenant’s Commitment to the Site
Prime Location: Strategically Positioned Off the Intersection of I-91 Freeway and the I-57 Highway with Combined Traffic Counts Exceeding 145,000 Cars Per Day
High Credit Tenant
Strong Corporate Guarantee: Backed by a Tenant with Over $6 Billion in Annual Revenue
Market Leadership: FleetPride Is the Largest U.S. Distributor of Heavy-Duty Truck and Trailer Parts and Services
Mission Critical Location: FleetPride Service Center with 12 Truck Bays to Perform Maintenance on Heavy Duty Trucks
Fair Market Value Renewals: Lease Renewal Options are at Fair Market Value, Providing a Great Hedge Against Inflation
E-Commerce & Recession-Resilient: FleetPride's Business Model Is Well-Suited to Thrive in Various Economic Condition
Investment highlights
Strong Real Estate Fundamentals
Highly Desirable IOS Site: The Property Boasts a Large 2.91-Acre Lot, a Key Feature in Today’s Market
Long-Term Occupancy: FleetPride Has Consistently Renewed Its Lease and Operated Successfully at This Location Since 2005
Excellent Condition: Both Tenant and Landlord Have Invested in Significant Capital Improvements, Maintaining the Property in Top Condition
Investor-Friendly: This NN Industrial Property Offers Minimal Landlord Responsibilities, Ideal for Investors Who Are Not Local to the Market
Located in a Dense Industrial Area with other National Brands such as Pepsi Bottling Group, FedEx Ground, Amazon, Old Dominion Freight, Thermo King, H&E Equipment Services, ABF Freight, Motion Industries, Epiroc, Culligan, and Many More within Close Proximity to the Subject Property
Pride of Ownership Springfield, MA
High Density Population: Over 223,000 Residents within 5 Miles
Strong Daytime Workforce: Over 237,000 Daytime Employees within 5 Miles
Affluent Population: Average Household Income Exceeds $84,000 within 5 Miles
Broker of Record: Thomas Shihadeh – License: #1000485
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