Industrial & Logistics

Mid-State Sale-Leaseback

1171 Grill Rd Van Wert, Ohio United States 45891-9386
Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Building Area Net

Property description

Jones Lang LaSalle America, L.P. (“JLL”) is pleased to offer the fee-simple sale and leaseback of 1171 Grill Road in Van Wert, OH (the “Property”), a 27,200 square foot mission-critical industrial facility for Mid-State Industrial Maintenance (“Mid-State”). At closing, the asset will be 100% absolute triple-net leased to Mid-State for an initial lease term of 20-years with contractual escalations of 2.00% annually.

 

Mid-State is a leading provider of on-site and in-house maintenance and repair services to a wide variety of end market users. The Company generates a high degree of recurring revenue from predictable jobs due to the non-discretionary demand from its customers. This offering presents the opportunity to acquire a long-term single-tenant industrial investment leased to a fast growing and mission critical tenant with the backing of a premier private equity sponsor and zero landlord responsibilities. 

Investment highlights

  • 20-year lease term with 2.00% annual escalations and no landlord responsibilities
  • Leading tenant that benefits from a diverse blue-chip customer base in non-cyclical end markets
  • Approximately 80% of the Tenant's revenue is recurring
  • Strong site-level metrics with EBITDAR-to-rent exceeding 9.0x
  • Experienced private equity sponsor with successful track record of investing in industrial companies
  • Mission-critical industrial real estate built in 2009 and significantly expanded in 2015 to serve as the corporate headquarters
  • Convenient access to major Midwest metro markets
Last Updated Date: 14 Oct 2021
Anthony Walters
Anthony Walters
Director
Broker Licenses
IL #475.188551
Brian Shanfeld
Brian Shanfeld
Senior Managing Director, Capital Markets
Broker Licenses
IL-475.158824

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 14 Oct 2021

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.