Available For Sale - Industrial , Warehouse

15,594 SF | Show Pricing $

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AVAILABILITY DETAILS

Size
15,594 SF
Price/SF
Show Pricing $
Listing ID
SA498557
Notes
THE OPPORTUNITY

Lee & Associates Arizona & Lee & Associates Orange (“Brokers”) is pleased to present the opportunity to acquire the 100%

fee simple interest in a freestanding fully leased industrial building of approximately 15,594 square feet, located in Phoenix,

Arizona (the “Property”). Originally constructed in 2014 the Property is situated on approximately 1.02 acres. The Property

is currently leased to Rivian Automotive, Inc. (NASDAQ: RIVN), which they are utilizing the Property for their Phoenix Metro

service facility. For the purpose of creating specialized improvements for Rivian’s use, Rivian spent approximately $700,000

in tenant improvements upon commencement of Lease.





OFFERING SUMMARY

OFFERING PRICE $4,750,000

NOI $202,379 (4.26% CAP Rate)

LEASE DETAILS 5 Year Initial Term: Commencement 5/2021: Expiration 5/2026

3% Fixed Lease Increases Annually

1 Five (5) Year Renewal Option: Fair Market Value

AIR Arizona Single Tenant NNN Lease

OCCUPANCY 100%

TENANT Rivian Automotive, Inc. (NASDAQ: RIVN)

https://rivian.com

YEAR BUILT 2014

BUILDING SIZE ±15,594 Sq. Ft.

ZONING A-1, City of Phoenix
Uses
Industrial
Warehouse

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Nate Bubeck, Lee & Associates - Arizona