Industrial & Logistics

Integer Medical Manufacturing Facility

395 S Industrial Blvd Trenton, GA United States 30752-2203
Asking Price S$15,970,000
Sq. Footage 50,630
NOI Net Operating Income S$1,086,000
Cap Rate 6.80%

Attributes

Year Built 1987
Lease Type NN
Current / Passing Rent S$1,086,000
Lease Expiration 2031-02-28
Remaining Term 11 years, 2 months
Tenant Accellent, Inc.
Lot Size 3.61 ACRES

Property Description

JLL is pleased to offer for sale the fee-simple interest in a NN single tenant industrial medical manufacturing Asset (the “Property” or “Asset”) leased to Accellent, Inc., d/b/a Lake Region Medical (the “Tenant”) and guaranteed by Greatbatch Ltd., a Maryland Corporation (the “Guarantor”) which are both subsidiaries of Integer Holdings Corporation (NYSE: ITGR). The Asset is in Trenton, GA, Dade County (Chattanooga, TN MSA). The Asset went under a complete overhaul in 2016 with significant capital improvements including a new roof, new building exterior facade, and new interior finishes. The Property features a rentable area square-foot mix of ISO Class 8 clean rooms, white coat lab space, office space, and manufacturing/warehouse space. The investment presents the opportunity to acquire an industrial net lease Asset with long remaining lease term to the world’s largest medical device outsource manufacturer in the world serving the cardiac, neuromodulation, vascular and portable medical markets, formally known as Greatbatch.


Investment Highlights

·        The Tenant is on a NN lease with 2.0% annual rental increases and limited landlord responsibilities

·        Integer Holdings Corporation is a public traded company (NYSE:ITGR) with revenues over $1.2 billion and EBTIDA above $259 million for fiscal year-end 2018

·        Integer Holdings Corporation reported third-quarter 2019 adjusted earnings of $1.20 per share which surpassed estimates of $1.06 by 13.2%

·        The medical device outsourcing market is projected to reach a volume of $210.5 billion by 2027 at an anticipated 11% CAGR

·        Dade County “doesn’t’ impose many rules on business.” and offers many state and local incentives to bring business to Dade County https://www.developingdadega.com/dade-county-industrial-development-authority.cfm

Eric Suffoletto
Eric Suffoletto
EVP, Capital Markets
Licensed in
IL - 475.14702
Michael Sivewright
Michael Sivewright
Market Director

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