Friedman Real Estate is pleased to present this NNN Leased Investment opportunity comprised of a ±243,000 SF industrial/manufacturing facility located in Massillon, Ohio. Located in the Canton-Massillon MSA south of Cleveland and northwest of Pittsburgh, the building is 100% occupied by Truck Hero with 10+ years of remaining lease term plus additional extension options.
Headquartered in Ann Arbor, Michigan, Truck Hero provides consumers a full range of branded automotive accessories for trucks, Jeep® brand vehicles and cars, with market-leading functionality, engineering, quality, and design. The breadth of Truck Hero’s product offering is vast, including hard and soft truck bed covers, truck caps, bed liners, floor liners, fender flares, steps, suspension kits, Ventvisors®, Jeep parts, and off-road accessories.
Massillon is a city in Stark County in the U.S. state of Ohio, approximately 8 miles west of Canton, 20 miles south of Akron, and 50 miles south of Cleveland. Stark County Ohio’s industrial market totals 50.3 million square feet with a 2.5% vacancy rate. Net absorption over the past year clocked in at about 540,000 SF, moderately above the five-year average of 390,000 SF. Rents increased by an impressive 5.8% over the past 12 months, the strongest pace of rent growth observed in more than a decade. Stark County has held a sub-4% vacancy rate since 2015 due to access to major freeway systems, central geographic location, and skilled labor force. There is about 2.1 million SF underway in Stark County, the most space under construction in more than a decade.
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