± 48,000 SF Industrial Building in Macon, GA | Corporate Guarantee | 7.0% Cap Rate

Highlights

• • 7.0% cap rate delivers this industrial property to market at $64.27/SF
• • New NNN lease commencing at the end of 2022 with initial 5-year, 3-month term and 3.0% annual escalations
• • The building has 18’ – 22’ clear heights, 3 roll up doors and 187 parking spaces, which allows room for expansion

• • The Landlord is adding 1 grade-level (12’x16’) roll-up door, fencing in over 10,000 SF and adding over 625 SF of finished office
• • Backed by corporate guarantee with Heely-Brown, which has been in business since 1939 and has 9 other locations throughout the Southeast

Description

Bull Realty is pleased to present this ± 48,000 SF industrial warehouse property located at 3101 Hillcrest Avenue in Macon, GA. This property has ample parking (187 spaces) and is accessible for 53' trailers. The electrical system consists of 1200 AMP, 3 Phase, 277/480 Volt. This ± 3.73-acre parcel is generally level and located at the corner of Hillcrest Avenue and Hillcrest Industrial Boulevard with good access and visibility from both streets. In addition to the building, there are a surplus of parking spaces and features a covered concrete delivery deck on the side of the building.

The tenant, Heely-Brown Company, has been a distributor of quality roofing products and services since 1939. The Brown family has grown the Heely-Brown Company from a small warehouse on Greenwood Avenue to a 160,000 SF distribution center in Midtown Atlanta and into neighboring states with multiple branches.

The tenant lease term is now 5 years and 3 months commencing December 1st, 2022. The rent rate is $4.50/SF NNN with 3.0% annual rent increases. The tenant pays all OPEX, which is currently $0.28/SF. With an asking price of $3,085,000, the property is delivered to market at a 7.0% cap rate.