Marcus and Millichap is pleased to offer the opportunity to acquire a +/- 82,000 SF laboratory located at 5777 Frantz Road in Dublin (Columbus MSA), OH (“Asset” or “Property”). The Asset is 100% leased by DNV GL USA, Inc. (“Tenant” or “DNV” or “Lab”) who has occupied the building since 2005 on a NNN lease and recently signed a three-year lease extension. The Asset is being offered at a well below replacement cost of $89 / SF, totaling $7,330,000. This Asset is DNV’s sole laboratory in the United States and one of eight laboratories globally.

DNV Group is owned by Det Norske Veritas Holding AS, a fully owned subsidiary of Stiftelsen Det Norske Veritas. Stiftelsen Det Norske Veritas is an autonomous, independent foundation and is, through Det Norske Veritas Holding AS, the sole owner of DNV Group. Stiftelsen Det Norske Veritas, has a strong investment grade credit rating of “A” from Scope Ratings (European credit rating agency). DNV was established in 1864 and now serves over 100,000 customers across more than 100 countries with approximately 15,000 global employees. DNV is a leading classification society that provides technical advisory services, testing, and certification to the energy value chain and maritime industry. In 2023, DNV delivered operating revenues of NOK 31,594 million (USD - $2.76 billion) – representing growth of 26.2% compared to 2022. Additionally, DNV’s EBITDA grew from NOK 4,130 million (USD - $362 million) in 2022 to NOK 5,352 million (USD - $469 million) in 2023.

The Asset is two stories, totaling +/- 82,000 SF, and has been institutionally owned and maintained since 2005. DNV maintains a highly skilled and experienced staff of materials scientists, engineers and NACE-certified technicians - backed by one of the premier materials testing laboratories in North America. Facilities include 84 load test frames in corresponding laboratory states with a wide range and volume of electrochemical and mechanical instrumentation, autoclaves for high pressure and temperature exposure, flow testing facilities, safety systems, microscopy, and analytical measurement capabilities. The lab space is a unique feature to this property and would be extremely expensive to replicate elsewhere.