wagner building investment memorandum · 2017-07-27 · 2323 south 900 west i salt lake city i utah...

LUCAS M. [email protected]

BRYCE BLANCHARD, [email protected]

EXCLUSIVELY MARKETED BY:

WAGNER BUILDINGINVESTMENT MEMORANDUM2323 SOUTH 900 WESTSALT LAKE CITY, UTAH

Located off Highway 210 in the Low-Vacancy Wagner Industrial Park Sub-Makret

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EXECUTIVE SUMMARY

WAGNER BUILDING INVESTMENT MEMORANDUM2323 SOUTH 900 WEST I SALT LAKE CITY I UTAH

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EXECUTIVE SUMMARYWe are proud to present the First Wagner building as an investment sale opportunity.

This 100% occupied building is located within one of Utah’s most established and

active industrial parks. Situated adjacent to the nexus of I-15 and Highway 201, Wagner

Industrial Park is known for its historically low vacancy rate and proximity to downtown

Salt Lake City. Access to First Wagner is almost unbeatable with virtually instantaneous

arrival from Highway 201 on 900 West. The building is 124,892 square feet on 7.69 acres

and currently contains four high-quality tenants with staggering lease expirations. This

property will be attractive for investors looking for a fundamentally sound acquisition.

We don’t expect this deal to last long based on value relative to replacement cost and

potential upside on rental rates.

OCCUPIED 100%

NOI $478,819

BUILDING SIZE: 124,892 SF

ACREAGE 7.69

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RENT ROLL &PROFORMA


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RENT ROLL AS OF JULY 1, 2017

PROFORMA

Net Operating Income $478,819

Vacancy and Reserves (5%) $(23,941)

NOI Less Vacancy & Reserves $454,878

SUITE TENANT SF BASE RENT MONTHLY ANNUAL LED COMMENTS

1 Mondi Bags USA 17,860 $0.33 $5,864 $70,368 8/31/2018

3&7 Mike's Milk LLC 15,689 $0.34 $5,387 $64,639 9/30/2019 -10/1/18 - Rent bump to 5,543.45

6 EMH Transportation 49,881 $0.33 $16,627 $199,524 6/30/2024 -2% annualincreases each July

4&5 Mesa Moving and Storage 41,462 $0.29 $12,024 $144,288 12/31/2017 Mesa leases the adjacent building on a long-term basis.

Totals 124,892 $0.319 $39,902 $478,819

MONDI BAGS USA

MIKE’S MILK LLC

EMH TRANSPORTATION

MESA MOVING AND STORAGE

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AERIALMAPS


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AERIAL MAPS

Salt Lake City International Airport

South Valley Regional Airport

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AERIAL MAPS

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AERIAL MAPS

YARD

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Imagery ©2017 , DigitalGlobe, State of Utah

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ASSETSPECIFICATIONS


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ASSET SPECIFICATIONSBUILDING SIZE 124,892 SF

ACREAGE 7.69

FENCED YARD Yes

LOADING Combo Loading Docks

DOCK DOORS 45

GROUND LEVEL DOORS 4

COLUMN SPACING Varies: 25’ x 40’ & 36’ x 36’ 6”

CLEAR HEIGHT Varies Up to 32’

ZONING Light Industrial

BUILDING CLASS Masonry Wall

EXTERIOR WALL Concrete

TRUCK COURT 180’

POWER 3-Phase Power Supply

HVAC Yes (In Offices)

SPRINKLERS Yes (Non ESFR)

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AREA INFORMATION


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UTAH ACCOLADES

TOP STATE FOR BUSINESSRATED AMERICA’S TOP STATE FOR BUSINESS(CNBC, 2016)

AAA1 OF 13 STATES AWARDED A AAA CREDIT RATING(Standard & Poor’s, 2015)

#1 FOR BUSINESS#1 BEST STATE FOR BUSINESS(Forbes, 2015)

#1#1 PRO-BUSINESS STATE FOR 3RD CONSECUTIVE YEAR(Pollina and AEDI)

AWARDED GOLD SHOVELby Area Development Magazine for “significant job creation, infrastructure improvement and for leading the nation in fostering a world-class business environment.”(Utah Governor’s Office of Economic Development, 2016)

TOP 10LABOR MARKET – SALT LAKE & PROVO BOTH RANKED TOP 10(Forbes, 2015)

#1 ECONOMY#1 STATE WITH THE BEST ECONOMY(WalletHub, 2016)

EMPLOYMENTUNEMPLOYMENT IS SECOND LOWEST IN NATION(Dept. of Workforce Services)

GLOBALLY RANKEDSALT LAKE CITY RANKED ONE OF THE “15 BEST CITIES TO DO BUSINESS GLOBALLY”(Fortune)

FUNDAMENTALLY SOUNDHIGHEST RESULTS IN 6 PERFORMANCE CATEGORIES(US Chamber Foundation, October 2015)


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UTAH DEMOGRAPHICS

JOB GROWTHUTAH 3.3%NATIONAL 1.7%August 2016

POPULATION GROWTHUTAH 7.94%NATIONAL 3.50%2010-2015

MEDIAN WAGEUTAH $33,990NATIONAL $36,1922015

MEDIAN AGEUTAH 29.9NATIONAL 37.42015

COST OF LIVING INDEXUTAH 94.6*NATIONAL 100*Salt Lake City

% BUDGET SPENT ON EDUCATIONUTAH 41% NATIONAL 30%2016

CORPORATE TAXUTAH 5%NATIONAL 6.562016

GDP GROWTHUTAH 2.4% NATIONAL 1.1%Q1 2016


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UTAH LIFESTYLE5 NATIONAL PARKS

43 STATE PARKS

14 WORLD-CLASS SKI RESORTS

SALT LAKE RANKED ONE OF THE HEALTHIEST METRO AREAS(ATLANTIC CITIES MAGAZINE)

OVER 9 MILLION ACRES OF

NATIONAL FOREST

UTAH HAS 6TH LOWEST CRIME RATE IN THE U.S.

#1 HIKING CITY (SALT LAKE CITY)(NATIONAL GEOGRAPHIC ADVENTURE)

SALT LAKE RANKED BEST PLACE TO LIVE

2ND MOST LIVABLE STATE(CQ PRESS, 2013)

#1 STATE FOR FUTURE LIVABILITY(GALLUP WELLBEING)

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MARKET INFORMATION


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MARKET INFORMATION2016 YEAREND INDUSTRIAL MARKET REPORTCLICK TO VIEW

https://astro.ngacres.com/Core/FileAccess/base/property/file/newmark_grubb_acres_2016_yearend_report_industrial.pdf/path/explorables.startdir.Market%20Reports.2016%20Yearend%20Market%20Report

wagner building investment memorandum · 2017-07-27 · 2323 south 900 west i salt lake city i utah...

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