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INVESTMENT HIGHLIGHTS
Strong Corporate Credit - Grupo Antolín Irausa, S.A. is a worldwide leading Tier 1 OEM in the design and manufacturing of automotive interior components. The guarantor reported 2023 annual revenues of €4.62 billion and currently holds B- and B3 credit ratings from S&P and Moody’s, respectively.
Long-Term Site Tenancy & Heavy Tenant Investment - The tenant and its predecessor in interest have been at the site since 1988 (+30 years), and have invested over $30 million into heavy manufacturing equipment and upgrades to the site.
Attractive Rental Increases - The lease features 1.9% annual rental increases through the remainder of the primary term, providing increasing returns for an investor as well as an effective hedge against inflation.
Passive Lease Structure - Grupo Antolin is operating under a passive net lease structure in which the tenant is responsible for any and all operating expenses relating to the property including taxes, insurance, common area maintenance, and HVAC.
Strategic Logistics Location - The property is strategically located only 50 miles outside of St. Louis, and less than 2 miles from Interstate 64, a critical east-west distribution corridor. The strategic proximity to I-64 gives the tenant efficient and direct highway access to its long-term contracted customer base, including GM’s 3.7 million square feet Wentzeville, Missouri plant.
Recent Expansion & Building Improvements - With a 63,776 square-foot expansion in 2017 and a partial re-roofing of 114,471 square feet in 2018, the property features a younger effective age and shields an investor from significant roof-related capital expenditures in the near future.
Low Price/SF - At $56 PPSF, the offering would feature a low basis compared to industrial manufacturing transactions nationwide and is well below replacement cost for a like-kind industrial manufacturing facility.
