Tammy Saia Contact Info:
Phone: (630) 570-2226
Email: tsaia@marcusmillichap.com
Tami Andrew Contact Info:
Phone: (630) 570-2179
Email: tandrew@marcusmillichap.com
Parker Hannifin Corporate Lease STNL Industrial
REVISED
Parker Hannifin Corporate Lease STNL Industrial
Building is Registered with the Federal Department of Agriculture (FDA) as a Device Manufacturing Facility | Single Tenant Industrial
Corporate Guarantee | Credit Tenant | Publicly Traded on NYSE since 12/9/1964 Symbol PH | Revenue $114.3 B (2018) | Ranked 230 in Fortune 500 (2016)
100 Percent Occupied | Tenant Since 1991 | Remaining Term 16 Years Comprising of 8, 2-Year Options
Founded in 1917 | Headquarters Cleveland, OH | Area Served: Worldwide | # Global Employees 57,170 (2018)
Interstate 65 Frontage | 1.6 Miles to I-65 4-Way Interchange | Surrounded by Strong Trade Area with Abundance of Hotels, Restaurants, Retailers
Fully Heated and Air Conditioned | Building Has Controlled Environments and Clean Rooms
1201 86th Place, Merrillville, IN 46410
Request Offering Memorandum
UNDER CONTRACT
Market Summary
Price $2,500,000
Cap Rate 8.23%
NOI $205,854
Rentable SF 29,420 SF
Price per SF $84.98
Year Built / Renovated 1989 / 1991
Lot Size 2.87 Acres
Description
Marcus & Millichap is pleased to present the 29,420 square foot industrial building currently occupied by Parker Hannifin. Parker Hannifin is a global company that enables engineering breakthroughs that lead to a better tomorrow. As the global leader in motion and control technologies, Parker plays a pivotal role in applications that have a positive impact on the world.
Parker has been a tenant in the property since 1991. The site is home to the medical systems business unit. The long-term tenant has nine two-years options left on their lease. Although the income remains unchanged, at the eight- and one-half percent cap rate, the property will provide a return, far above most other conservative investment vehicles.