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Credit Rated NNN Industrial Property Sale

RealINSIGHT Marketplace and Mission Capital Advisors are pleased to present the sale of a 220,016 SF Industrial/Office warehouse property located in the Cummings Research Park in Huntsville, Alabama.
 
Sale Highlights
• Long term, publicly traded, tenant with current lease that runs through September 30, 2020 with two remaining 5-year renewal options.
• Prominent location within the 3,843 acre Cummings Research Park and across the street from the University of Alabama Huntsville.
• Huntsville has experienced population growth of 7% since 2010 and in 2017 was ranked No. 2 Best Places for Tech Jobs by Nerd Wallet.
• Huntsville reports several recently announced economic development success stories including over $2 billion in new planned investments by Facebook, Toyota/Mazda Joint Venture, and Aeroject Rocketdyne.
 
The property consists of three buildings on a 17.93-acre site located at the corner of Sparkman Drive and SH-565, across the street from the University of Alabama Huntsville, in close proximity to the U.S. Space & Rocket Center and Redstone Arsenal, a U.S. Army Post. The property contains a total of 220,016 sf that was constructed in stages between 1964 and 1989 and renovated in 2015. Building sizes are 130,073 sf, 80,744 sf, and 9,199 sf, the largest being the main 140 building.
The property is 100% occupied by AAR Corp (f/ka/a SUMMA Technology, Inc.) via a NNN lease through September 30, 2020. Before SUMMA’s acquisition by AAR Corp, the property served as SUMMA’s corporate headquarters since 1987. AAR Corp is a global leader in aviation aftermarket services and publicly traded on the NYSE (S&P: BB+, Moody’s: Ba3).
 
The property contains approximately 82,000 sf of finished office (37%) space and 138,000 sf of manufacturing/warehouse (63%) space which features clear heights of 24’ to 64’ and is served by 6 grade level overhead doors, 2 dock high overhead doors, and 8 overhead track cranes of various tonnage which run the entire length of each bay.
 
The property is located within the Cummings Research Park (“CRP”). Encompassing 3,843 acres and 11.8 million square feet, CRP is the second largest research park in the United States and fourth largest in the world. CRP is home to the University of Alabama-Huntsville as well as nearly 300 companies, including 45 of which are publicly held.
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Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

120 - 140 Sparkman Drive

120 - 140 Sparkman Drive, Huntsville, AL 35805

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Asset Snapshot

  • Asset Type
  • Real Estate
  •  
  • Industrial Type
  • Flex
  • Property Size
  • 220,016 Sq Ft
  • Ceiling Height
  • 24 Ft
  • Land Area
  • 17.93 Acres
  • Year Built
  • 1964 and 1989
  • Year Renovated
  • 2015
  • Number of Buildings
  • 3
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.

  • Auctioneer

    1. John Mickey Fowler

      c/o Fisher Auction Company Inc.

      License: #ALSL466