The building spans 89,770 SF on a 5-acre lot and features 40,000 SF of air-conditioned and insulated space designed for heavy-duty operations with six craneways, 11 hooks, and a capacity of 25 to 30 tons. It is currently leased by Gexpro Services who have signed a brand-new 10-year NNN lease providing long-term stability and a strong income stream for any investor. Originally part of General Electric’s GE Supply division, Gexpro is now part of Distribution Solutions Group, a publicly traded company on the NASDAQ with annual revenues exceeding $1.2 billion. This solid backing from a publicly traded conglomerate adds to the security and reliability of the tenant, who has been at this location since 2021. Gexpro specializes in machining and assembly for production, repair, and assembly of A-Class components, serving customers in six vertical markets, including renewables, industrial power, consumer and industrial, technology, transportation, and Aerospace and Defence. To keep up with demand, they are currently investing more than $2M in upgrades to their plant and machinery in the building. The building was acquired at a going-in Cap rate of 8.2% and is a fundamentally excellent asset with strong cash flows.
