Listed by CBRE - Atlanta
$4,087,000
Chromascape Industrial: Kingman, AZ
Details
Property Type Industrial
Sub Type Flex
Square Footage 64,414
Cap Rate 7.75%
NOI $316,741
Occupancy 100%
Tenancy Single
Brand/Tenant Chromascape
Lease Type NN
Lease Term 15
Lease Expiration 10/25/2037
Remaining Term 11.4
Rent Bumps Yes
Lease Options Two, 5-Year Options
Price per SqFt $63
Year Built 1980
Buildings 3
Acreage 3.920
Investment Type Net Lease
Lease Commencement 10/26/2022
Industrial | 7.75% CAP | 64,414 SqFt
Marketing description
CBRE is pleased to exclusively offer the opportunity to acquire the 64,414-square-foot ChromaScape industrial facility situated on a 3.92-acre parcel in Kingman, Arizona—a principal city of the Lake Havusu City-Kingman, AZ MSA (Population: 225,785). ChromaScape’s net lease features ±11.6 years of term remaining with 3% annual rent increases throughout the initial term. Rent during the two, 5-year renewal options is initially set to 95% of fair market rent.
Investment highlights
- Net Lease with Annual Rent Increases: ChromaScape’s net lease features ±11.6 years of term remaining with 3% annual rent increases throughout the initial term. Rent during the two, 5-year renewal options is initially set to 95% of fair market rent.
- Efficient West Coast Distribution: The property is located along Santa Fe Drive and is roughly 1 mile from the historic Route 66 (14,494 VPD), which provides direct access to Interstate 40 (27,223 VPD) 6 miles south of the site. Interstate 40 provides seamless transit to key markets like Los Angeles and Las Vegas.
- Located in Kingman Airport & Industrial Park: ChromaScape is situated within the Kingman Airport & Industrial Park, the largest industrial hub in Northern Arizona and the largest in the state outside of the Phoenix area. This location provides the facility with an exceptional logistical advantage through a multi-modal transportation network. The site is directly served by the Kingman Terminal Railroad, a short-line provider that interchanges with the BNSF Railway’s main line. For ground transportation, the facility benefits from immediate proximity to Historic Route 66 and Interstate 40, a primary national corridor for West Coast distribution. Additionally, the adjacent Kingman Municipal Airport features two active 6,900-foot runways, offering air-freight capabilities for urgent deliveries. Future connectivity is set to improve further with the development of the Rancho Santa Fe Parkway interchange, which will provide even more direct access between the industrial park and I-40.
- Mission-Critical Operations: This ChromaScape facility in Kingman primarily focuses on the production of specialty colorants and additives for the corrugated packaging and industrial markets. Recently, the plant underwent a major expansion with the completion of a new LBX production line, making ChromaScape the only supplier in the market with both east and west coast manufacturing locations for these specific products.
Listing Contacts
Listed by CBRE - Atlanta
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$316,741.00
$26,395.08/mo
Valuation Metrics
0
DSCR
7.75%
Cap Rate
7.75%
ROI
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