600 Ridge Road & 514 Kaiser Drive
600 Ridge Road & 514 Kaiser Drive
As exclusive agent, Cushman & Wakefield’s National Industrial Advisory Group is pleased to offer a 100% fee interest in 600 Ridge Road and 514 Kaiser Drive for sale.
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Gerard J. Blinebury, Jr., joined Cushman & Wakefield in 2001 and currently serves as Vice Chairman of the Industrial Brokerage Group and Partner in Cushman & Wakefield’s Industrial Advisory Group (IAG), specializing in the Industrial Asset Class throughout Eastern Pennsylvania. Mr. Blinebury has a broad range of experience working with institutional owners and corporate users throughout the I-81 and I-78 corridors as well as the Suburban Philadelphia Industrial Markets. This experience includes agency leasing, building sales, land sales, tenant/ buyer representation and the marketing of investment grade industrial buildings and industrial parks. Prior to joining Cushman & Wakefield, Mr. Blinebury was associated with Kissinger, Bigatel & Brower, a full-service real estate firm in State College, Pennsylvania.
- Property Type
- Industrial
- Deal Type
- Acquisition
- Risk Profile
- Value-Add
EXECUTIVE SUMMARY
Both of these 56,000 and 31,617 square foot (sf) quality industrial buildings are fully leased with a WALT of 6.79 years. The properties are both located in the Southeastern Pennsylvania (SEPA) market, just off I-95 in Delaware County. SEPA benefits from surging industrial trends at 97.8 percent occupied and 5.3 million square feet (msf) under construction expected to be pre-leased, due to strong tenant demand and soaring rents.
600 Ridge and 514 Kaiser offer an investor the opportunity to add value through its well below market rents and the ability to expand 600 Ridge Road by up to 24,000 sf. 514 Kaiser features four dock doors, one drive-in door and clear heights of 18’-20’. 600 Ridge is a newly constructed, state-of-the-art facility with four dock doors, one drive-in door and 26’ clear heights.
INVESTMENT HIGHLIGHTS
Proximity to I-95 & Major Employment Hubs
Super infill location within a two-hours drive of NYC, Philadelphia, Washington DC, Pittsburgh, and Baltimore
Material Rent Growth Upside
Attractive basis with $9.32/SF weighted average rent across the two buildings or 23% below market
Projected NOI growth of 82% over the next 10 years
Best In Class Infill Assets
600 Ridge Road: Newly built, 56K SF warehouse with 4 dock doors, 1 drive-in door and 26’ clear heights
514 Kaiser Drive: Recently renovated 31.6K SF warehouse, with 4 dock doors, 1 drive-in door and 16-18’ clear heights