For Sale
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295 Technology DrChristiansburg, VA 24073

Virginia Distribution Center: 315,000 SF

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Class A industrial property, a 315,000-square-foot warehouse in Christiansburg, Virginia, presents a compelling sale-leaseback opportunity. Built in 2012, this single-tenant facility boasts a 100% occupancy rate with a 15-year absolute NNN lease in place. The lease includes rent bumps and 4-5 year lease options. The property features 30 loading docks, 3 dock-high doors, and a 32-foot ceiling height. Ample parking is provided with 242 spaces. Situated on 46.1 acres (34.5 usable), this strategically located distribution center offers excellent access to Interstate 81. The tenant, a major national online retailer, has a long-term operating history at this location, which serves as their sole eastern US distribution hub. The property is offered fee-simple, with a pro-forma cap rate of 8.00%. The sale-leaseback allows the tenant to strengthen its financial position. Offers are being reviewed, with a target of a 15-year absolute triple net lease with market base rent and annual escalations. The deadline for offers is October 24, 2024. This is a rare opportunity to acquire a high-quality asset with a strong, creditworthy tenant and significant long-term growth potential.

Highlights

  • Backcountry seeks a 15-year absolute triple-net (NNN) lease with market-rate base rent and annual rent escalations.
  • Offers are due October 24, 2024.

Property Details for 295 Technology Dr

Property type
Warehouses, Industrial properties
Square Feet
315,000 SF
Class
A
Year Built
2012
Buildings
1

Location Insight

City
Christiansburg
County
Montgomery
State
Virginia
Latitude
37.120814
Longitude
-80.3799219
295 Technology Dr, Christiansburg, Virginia

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295 Technology Dr
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