Parker Hannifin Corporate Lease STNL Industrial

Parker Hannifin Corporate Lease STNL Industrial

Parker Hannifin-Medical Equipment Manufacturer-Medical Systems Division | Single Tenant Industrial
Corporate Guarantee | Credit Tenant | Publicly Traded on NYSE since 12/9/1964 Symbol PH | Revenue $114.3 B (2018)


100 Percent Occupied
Tenant Since 1991 | Remaining Term 18 Years Comprising of 9, 2-Year Options 
Founded in 1917 | Headquarters Cleveland, OH | Area Served: Worldwide | # Global Employees 57,170 (2018) 
Ranked 230 in Fortune 500 (2016)
Interstate 65 Frontage | 1.6 Miles to I-65 4-Way Interchange

Surrounded by Strong Trade Area with Abundance of Hotels, Restaurants, Retailers

1201 86th Place, Merrillville, IN 46410

Request Offering Memorandum

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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.