Industrial & Logistics

2260 Volvo Car Drive

Ridgeville, South Carolina United States
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2022
Building Area Net
Occupancy 100.0 %

Asset Description

100% LEASED CLASS A+ NEW CONSTRUCTION WITH 5.2 YEARS OF TERM

Investment Highlights

EXISTING INVESTMENT-GRADE CASH FLOW WITH NEAR-TERM UPSIDE

• 100% leased to Volvo Car USA (“Volvo”) on a fresh 5-year lease term with

3.00% annual rent escalations

• Multiple 5-year FMV renewal options with 3.00% annual rent escalations

• Volvo is the US operating entity of global auto manufacturer Volvo Car AB, a

direct subsidiary of Zhejiang Geely Holding Group Co. Ltd. (S&P: BBB-)

MISSION-CRITICAL DISTRIBUTION FACILITY

• The only distribution facility servicing Volvo’s 2.3 MSF Ridgeville production

facility, just two (2) miles away.

• Located at a touchpoint to the rapidly evolving EV market throughout the

Charleston market and across the Southeast

TROPHY-QUALITY NEW CONSTRUCTION

The Property includes a multitude of highly-sought after features such as:

• 472’-deep, cross-dock loading configuration

• 36’ clear height

• 116 dock-high doors and 4 drive-ins serviced by 185’ truck courts

• 156 trailer storage spaces

• ESFR sprinklers and LED lighting

ACCESS TO CHARLESTON MSA WITH SOLID INDUSTRIAL FUNDAMENTALS

• Rapidly-growing population of over 800,000 that has grown by more than

49% since 2000 and is projected to continue growing due to exceptional

population momentum

• Charleston continues to add new residents at a breakneck pace, with an

average of 33 people moving to the MSA every day

• Comprising over 70 MSF of industrial inventory, the tight Charleston market is

currently 97.7% occupied with 6.4 MSF of net absorption in the past 24 months

• Rent growth continues unabated, with average NNN asking rents for Class A

product growing at a 4.8% 10-year CAGR

PRIME DISTRIBUTION LOCATION

• Situated just three (3) miles off I-26, the distribution backbone of the

Charleston area that connects the Port of Charleston to I-95, I-77, and I-20

• The Property is located precisely equidistant from I-95 and the Port of

Charleston, one of the most productive seaports in the US and a critical

international gateway for global commerce that contributes over $63.4 billion

to the local economy

• Dual rail service from Norfolk Southern and CSX via multiple Class I rail

networks directly connects the Port of Charleston and the Charleston MSA to

over 40,000 miles of freight rail spanning 23 states

Last Updated Date: 29 Aug 2022

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Last Updated Date: 29 Aug 2022

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