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INVESTMENT HIGHLIGHTS
Long-Term Absolute Net (NNN) Lease with Annual Rent Increases Upon close, Frazer & Jones will execute a brand new 20-year absolute triple-net (NNN) lease with tenant fully responsible for maintenance, insurance, taxes, and all operating expenses, providing the landlord with a low-maintenance investment opportunity. The lease will include annual rent escalators of 3%.
Accessible Location The property is ideally situated near the I-690 and I-81 highways, facilitating convenient access to vital regional road networks. Additionally, its close proximity to I-81, a significant north-south interstate highway stretching from the Canadian border to Tennessee, enhances its connectivity and accessibility to major transportation routes.
Significant Land Component with Close to 18 Acres The property consists of 17.92 acres, allowing for future expansion and increased potential for long-term appreciation.
Robust Operating History Frazer & Jones has been in business for over 150 years in Syracuse, New York, and is considered one of the largest Individual Ductile/Malleable foundries in the United States with over 90 million castings annually.
Strong Industrial Market The Syracuse industrial market has experienced solid growth in recent years attracting large multinational companies including Amazon, Lockheed Martin, WestRock and TTM Technologies, who recently announced plans to spend at least $100 million to expand its plant in Syracuse’s eastern suburbs.
Densely Populated Trade Area The property boasts 381,000 residents within a ten-mile radius and average household incomes exceeding $80,000.
