Fully Leased Ambient Storage Warehouse

Investment Overview

This is a 100% leased, single tenant NNN industrial investment in Ortonville, Minnesota. The 94,632 SF warehouse is leased to a Top Fortune 500 company in agribusiness.  The building is being converted from refrigerated to ambient storage.  The property offers day one cash flow from a newly executed lease. It is priced at an 11.24% in place cap rate, and built in annual rent escalations grow income over the term. At $33.82/SF, the price is a low basis for a functional industrial building.

The building sits on approximately 5 acres zoned industrial. It has four loading docks, 16'–20' ceiling heights and full sprinkler coverage, with room to expand. The site is in the City of Ortonville's Opportunity Zone, in an established agricultural market with regional access to Minnesota, South Dakota and North Dakota.

Area Overview

• Direct access to Old Highway 12 W
• 15 miles to I-29
• Within 2-hour drive of Fargo, Sioux Falls, Aberdeen, and St. Cloud
• Adequate truck circulation and trailer parking
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Highlights

• Building Size: 94,632 SF
• Site Size: 5 acres m/l
• Year Built / Renovated: 1960 / 1996
• Ceiling Height: 16’–20’
• Dock Doors: 4
• Power: 3-phase with 0.8 MW transformer (approx. $0.04/kWh + demand)
• Lighting: Majority LED
• Fire Suppression: Full building fire-suppression system
• Occupancy: 100% NNN Lease
• Parcel ID: 22-1659-000