BOCKS BOARD PACKAGING (HUTCHINS, TX)

SINGLE TENANT

1520 EAST WINTERGREEN ROAD, HUTCHINS, TX 75141
Price :
$ 4,040,000
Cap Rate :
7.50%
NOI :
$ 303,021
Lot Size :
11.87 acres
Year Built :
1986
Property Area :
69,750 sqft
Status :
PENDING CONTRACT
MARKETING PACKAGE

By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

 

Investment Highlights

• 69,750 Square Foot Single-Tenant Industrial Warehouse Situated on 11.87 Acres Providing Over 6 Acres of Land for Outside Storage or Future Development
• Over Five Years Remaining on an Absolute Net Lease with 2.0% Annual Rental Increases, Minimizing Landlord Responsibility
• Strong Operator: Current Tenant and Has Been In Operation Since 1991 with Excess of $20MM in Revenue and Has Been At This Site for Over 20 Years
• Attractive Labor Market With Easy Access to Interstate 45, Interstate 20 and Union Pacific Intermodal Terminal
• Below Average Submarket Vacancy: 5.8% Reported by CoStar for Similar Industrial Assets Within a 5 Miles Radius
• Annual Submarket Rent Growth of 6.0% per CoStar: Far Greater than 2% Annual Bumps in Place Allowing an Investor to Increase Rents at Expiration of the Lease

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1520 East Wintergreen Road in Hutchins, Texas leased to Bocks Board Packaging. The subject property consists of approximately 69,750 square feet of space and is situated on 11.87 acres of land. The subject property features 16’-22’ clear heights, eight dock-high doors, and two grade level doors. The seller reports new exterior renovations totaling nearly $200,000 for paint, signage, and concrete pavement. Bocks Board Packing has been in operation since 1991 with excess of $20mm in revenue. The tenant is committed to an absolute net lease with annual increases, minimizing landlord responsibility. With excess land, an owner could develop or use it for outside storage. The asset is located in an attractive labor market with easy access to Interstate 45 and Interstate 20.

Since 1991, Bocks Board Packaging has been a provider of Kraft, corrugated, and other specialty paper products. An industry leader in quality and service, Bocks Board Packaging has expertise in the areas of die cutting, rewinding and sheeting Kraft paper. The company offers paper rolls and sells butcher paper in various colors. The company provides newsprint soft-folded paper that is used by the storage and transportation industry, as well as freezer paper and pizza pads to the food and beverages industry. Additionally, the company provides linerboards that are used in several applications, such as lining railcars and walkways. Bocks Board Packaging offers special-cut paper and paper tubes. The company is listed as one of the major businesses in Hutchins, Texas.

 

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. © 2020 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0060108)

Exclusive Listing

Adam Abushagur
(972) 755-5223
Lic # TX : 661916
Sam Martin
(972) 755-5198
Lic # TX : 707514

Need Financing?

Learn how we can help you. Get Started

Questions?