Republic Services - Net Lease Industrial
Credit Rated Tenant | NNN Lease | 3.41 Acres
Marketing description
Vero Capital Group is pleased to present the opportunity to acquire a single- tenant, net-leased industrial asset located in Palm Bay, Florida, one of the fastest- growing markets in the state. The property is leased to Republic Services of Florida, a subsidiary of Republic Services, Inc. (NYSE: RSG), a national, publicly traded waste management provider. The asset is improved with a purpose-built industrial facility situated on approximately 3.41 acres and operates under a long-term net lease with remaining primary term and extension options. The lease structure provides contractual rental increases and places responsibility for taxes, insurance, and maintenance on the tenant, offering stable cash flow with limited landlord obligations.
Investment highlights
NATIONAL CREDIT TENANT
Leased to Republic Services of Florida, an operating subsidiary of Republic Services, Inc. (NYSE: RSG), one of the largest publicly traded waste management companies in the United States.
LONG-TERM NET LEASE WITH EXTENSIONS
Initial 10-year net lease commenced August 2020 with approximately 4.5 + years remaining in the primary term and two (2) additional 2-year extension options. Tenant is responsible for taxes, insurance, and maintenance, resulting in minimal landlord responsibilities.
SCHEDULED RENT INCREASES
The lease includes a 3% scheduled rent increases every two years during the primary term and extension periods, providing contractual income growth over the remaining lease term.
LARGE INDUSTRIAL SITE
Situated on approximately 3.41 acres, providing a meaningful land component and long-term real estate value.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
