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| Documents |
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| Property Description |
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Stan Johnson Company is pleased to offer for sale the newly-constructed Orgill distribution center property located in Sikeston, Missouri.
The Property is 100% absolute bond-net leased to Orgill, Inc. for 27 years with four renewal options at 5 years each.
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| Location Description |
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The City of Sikeston is located in southeastern Missouri. It is located at the midway point between St. Louis and Memphis on Interstate 55. The Sikeston Micropolitan Stastistical Area consists of all of Scott County and has a total population of 41,143.
Major employers in the area include Unilever, Missouri Delta Medical Center, the Sikeston Public Schools system and Wal-Mart. Sikeston is the headquarters for Montgomery Bank, the largest privately-owned bank in Missouri. |
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| | Orgill, Inc.
Sikeston Business, Education and Technology Park
Sikeston,
MO
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General Info | | Property Type
Industrial
Price
$27,750,000
Segment Type
Warehouse
Building Size
794,760 sqft
Land Area
70.00 Acres
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Lease Type
Zero Cash Flow
Remaining Term
26 years
Current NOI
$2,455,905
Status
Sold
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| Highlights |
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Newly-constructed, general purpose 779,760 SF distribution facility, designed to accommodate future expansion of up to 246,240 SF additional warehouse
- 100% leased to Orgill, Inc., the nation's largest and fastest-growing wholesale hardlines distributor.
- This facility is a consolidation of two existing facilities and is strategic to Orgill's continued growth.
- 27 year absolute bond-net lease with no landlord responsibilities whatsoever
- Four lease renewal options at 5 years each with 10% increases in each of the periods
- Zero cash flow structure with fully-amortizing, non-recourse loan in place. Loan can be assumed with no fee.
- 1031 buyers may utilize paydown/readvance feature to pull out significant equity from trade on a non-taxable basis.
- The investor has the ability to use passive losses generated by the property to offset income from other real estate investments.
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