Absolute NNN Florida Tile – National Distribution and Manufacturing Facility – Featured Industrial Offering
We are pleased to present the single tenant absolute NNN industrial facility leased to Florida Tile in Lawrenceburg, KY, with approximately 10 years remaining on the base lease term. Florida Tile’s lease covers 613,800 rentable square feet on 288 acres. The property consists of 2 aggregate structures; one for manufacturing and the other for warehousing and distribution. The facility serves as Florida Tile’s National Manufacturing and Distribution Center.
• Absolute Net Leased Single Tenant Industrial Offering
• 10+ Years Remaining on the original 25-year lease with a January 2030 expiration
• Rental Increases Every 5 Years with four 5-year renewal options
• Tenant has invested over $1 Million in facility expansion since lease commencement
• Low rent: Tenant paying just $2.72 per SF rent
• Parent Company Corporate Guarantee – Panaria Group Industrie Ceramiche S.p.A.
• Offered at $24,160,000, a 7.0% Capitalization Rate on Current Net Income, and $39.36 per rentable SF