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Binghamton, NY

L3Harris

Address:
147 Industrial Park Drive, Binghamton, NY 13904
Property Type:
Single Tenant
Price:
$16,371,000
Cap Rate:
9.45% cap
NOI:
$1,547,075
Square Feet:
100,984 sqft
Lot Size:
7.3 acres
Price Per Square Foot:
$162.11
Year Built:
1985/2018
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* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

  • 100,984-Square-Foot Manufacturing Asset Situated on 7.3 Acres
  • Highly Functional Asset: 17’- 18’ Clear Heights, Five Dock High Doors, and Heavy Power
  • Masonry Construction Featuring 80% Build Out With Ample Parking
  • L3Harris is a Publicly Traded Aerospace and Defense Company with Over 50,000 Employees and Revenue of Over $18 Billion
  • 100 Percent Occupied, with Nine Years Remaining on Lease and Four, Five-Year Renewal Options
  • Strategically Located Industrial Warehouse with Proximate Access to Major Freeways
  • Triple-Net Lease, Minimizing Landlord Responsibility and Expenses
  • L3Harris Technologies, Inc. Credit Rating: BBB, Investment Grade, Prime (Moody’s)

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 147 Industrial Park Drive in Binghamton, New York, leased to L3Harris. The subject property consists of approximately 100,984 square feet of space and is situated on 7.3 acres of land. The asset is highly functional with 17’-18’ clear heights, five dock-high doors, and heavy power. The manufacturing property is masonry construction featuring 80% build out with ample parking. The property is 100 percent occupied, with nine years remaining on the lease and four five-year renewal options. L3Harris is a publicly traded Aerospace and Defense company with over 50,000 employees and revenue of over $18 billion. L3Harris Technologies, Inc. has a credit rating of BBB (Investment Grade, Prime) (Moody’s). The triple-net lease minimizes landlord responsibility and expenses for an investor. The subject asset is a strategically located warehouse with proximate access to major freeways.

BROKER OF RECORD
JOHN KRUEGER
New York Broker of Record
Manhattan Office
Tel: 212-430-5157
Fax: 212-430-5110
John.Krueger@marcusmillichap.com
License: NY: 10311205789
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2021 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0061015)