Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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.

Attributes

Building Area

Property Description

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained as the exclusive sales

representative for ASSA-ABLOY Entrance Systems (the “Property”) – a 161,458 square foot

mission-critical HQ facility located south of Charlotte, North Carolina. The Property is 100% leased under an absolute-net structure to ASSA-ABLOY Entrance Systems AB, and its whollyowned US Subsidiary, ASSA-ABLOY Entrance Systems US, Inc (collectively, “Assa-Abloy”) with 7.9 years of remaining lease term. ASSA-ABLOY AB, the parent company of ASSA-ABLOY Entrance Systems AB, is rated A- by S&P. Assa-Abloy is a global leader in the manufacture of automatic doors and entryway systems that has centered its US operations in Charlotte with three (3) of its facilities – most notably comprising the headquarters of ASSA-ABLOY Entrance Systems US, Inc. located at the Property. The firm has maintained its presence at the Property for over fifteen (15) years and has made significant capital improvements to the space during the tenure of the lease. Institutional quality construction and a stable, in-place cash flow provide noteworthy financial stability for the Property.



The well-located mission-critical HQ facility is positioned directly to the south of the

Charlotte CBD and less than eight (8) miles from I-485, which gives access to nearly all

major thoroughfares in the area, including I-77 and I-85, the backbone of the Southeast. This location gives the Property immense connectivity to the entire Charlotte MSA and surrounding population and logistics hubs. Moreover, due to rising construction costs and a premium on available land, the Property is being offered significantly below replacement cost and at a highly competitive basis. ASSA-ABLOY Entrance Systems presents investors with the opportunity to acquire an absolute-net leased mission-critical HQ facility asset that features strong connectivity and a low entry point to the desirable Charlotte market.

Investment Highlights

STABLE LONG TERM IN-PLACE CASH FLOWS

• 100% leased under an absolute-net structure to ASSA-ABLOY Entrance

Systems AB, and its wholly-owned US Subsidiary, ASSA-ABLOY

Entrance Systems US, Inc (collectively, “Assa-Abloy”) with 7.9 years of

remaining lease term. ASSA-ABLOY AB, the parent company of ASSAABLOY

Entrance Systems AB, is rated A- by S&P


ABSOLUTE-NET LEASE STRUCTURE

• The absolute-net lease at the Property provides investors with a

passive investment in a mission-critical facility


MISSION-CRITICAL HQ FACILITY

• For Assa-Abloy, the Property functions as a true mission-critical facility,

comprising the headquarters of ASSA-ABLOY Entrance Systems,

US Inc. in addition to manufacturing, office, R&D and distribution

capabilities

• Complements existing Assa-Abloy facilities in the surrounding market,

making the Charlotte MSA the epicenter of the company’s operations


BELOW REPLACEMENT COST ACQUISITION

• The Property is offered considerably below acquisition cost for the

Charlotte Industrial market, given its small footprint and skyrocketing

construction costs


WELL-LOCATED INDUSTRIAL PRODUCT

• Located within two (2) miles to US-74 and less than eight (8) miles from

I-485, the Property features access to other major thoroughfares such

as I-77 and I-85, as well as Charlotte Douglas International Airport

(CLT)


ACCESS TO ROARING CHARLOTTE MSA

• Charlotte continues its meteoric rise, boasting 50.8% population

growth since 2000 with 4.0% projected growth in the next three (3)

years

• Rock-solid fundamentals include 12% rent growth and 7.1 million square

feet of net absorption in 2020 with an impressive 3.25% vacancy rate


HEAVY TENANT INVESTMENT

• In 2019, Assa-Abloy completed a significant expansion project on the

Property, including the construction of over 42,000 square feet of

additional warehouse and office space among other renovations and

improvements to the site

• The firm’s commitment to the Property’s longevity and usability has

been reaffirmed by numerous capital improvements

Last Updated Date: 08 Sep 2021
Pete Pittroff
Pete Pittroff
Senior Managing Director, Carolinas Office Co-Head
License details
NC-163984
Patrick Nally
Patrick Nally
Managing Director, Capital Markets
License details
NC-282053

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.

+358931583230
Last Updated Date: 08 Sep 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.