Metroplex Tech Center I - For Sale

Younger Partners has been exclusively retained to offer qualified buyers the opportunity to acquire Metroplex Tech Center I (Property). Comprised of more than 105,000 square feet of specialized Class A flex industrial space, the Property is benefitted by ample parking, versatile loading capabilities, timeless architectural styling and first class tenant finishes. 100% leased to five tenants, the Property has established revenues and an weighted average lease term of more than 7 years. Offering dock-high loading and efficient, shallow-bay layouts, the building has attracted a dynamic range of tenants that have made long term lease commitments. The Property’s revenue is secured by five notable tenants: Amusement Source International (Private), KabaFusion (Private), Dandy Dental (Private), McKesson (NYSE - MCK) and Deluxe Corporation (NYSE - DLX). In-place lease rates are roughly $14.20/sf NNN with an average remaining lease terms of more than 7 years. In-place base rental revenues are forecast at more than $1,500,000 annually with contractual rate increases over the remaining terms.

Fully leased at below market rates, the staggered expiration schedule will provide an outstanding mark-to-market opportunity in a time when in-fill flex industrial space is at a premium due to scarcity of options. Additionally, the quality of the improvements and the associated tenant investment should create a sticky environment at renewal.

Built in 1999, Metroplex Tech Center I is tilt-up construction with a classic brick facade giving the building a timeless look and feel. Offering a versatile design, the building has an adaptable floor plate to meet the needs of a variety of uses given the shallow bay depths. Complimenting the professional appearance, the building has dock-high loading capabilities at the rear of the complex that can accommodate shipping and receiving and other light industrial needs. Home to an assortment of specialized tenant uses, the building’s finishes include technical medical, pharmacy, dental lab, production / processing, showroom and more.