43 Bibber Parkway
Class A Industrial Investment | 102,000 SqFt
Marketing description
The Dunham Group is pleased to offer 43 Bibber Parkway in Brunswick, Maine for sale. This Class-A, 102,000± SF industrial building sits on 7.78± acres and is 83% occupied by two tenants (Identity Group and Silver Therapeutics). The remaining space is high bay clear span space currently being offered for lease at $7.25 NNN. The building is located in a zone which allows for Tier 4 cannabis cultivation.
The asset is well positioned in the Brunswick Industrial Park which is adjacent to Route One and 4 minutes from I-295, Exit 28. This centrally located Park allows for quick access to I-295 and I-95 reaching into all major distribution and business hubs in Maine such as Portland, Lewiston, Augusta and Bangor. Like many other markets, the Southern Maine industrial market has been outperforming all other asset classes with record growth consistently over the past 5 years. With the rise in e-commerce, life science and last mile distribution, Southern Maine has become one of the fastest-growing industrial markets in the Northeast.
Investment highlights
- Value-Add Opportunity: With ultra-low vacancy and strong demand, the 17,531 square feet of vacancy is a direct path to increasing revenue. A new owner would be able to realize this upside with minimal capital expenditures by leasing up the current vacant 17,531 Square feet. Based on a market rent of $7.25 owners could boost their income by $127,099 by filling vacancy day one. Low basis buy offers buyers the ability to under-cut market rents.
- Expansion Potential: Other potential upside includes the potential for an additional 20,286 expansion allows for another direct path for future income, see site plan on page 13.
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