6450 Trippel Road — Sale in Theodore, AL

  • Price: $353K
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Theodore, AL 36582
  • Year built: 2008

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Description

Jones Lang LaSalle America, Inc. (“JLL”) has been exclusively retained by ownership as the sales representative for 6450 Trippel Road , also known as “the Property” – a Class A, cross-dock, multi-tenant distribution facility totaling 342,160 square feet located in Mobile, Alabama. The Property features institutional-quality specifications including 36′ minimum clear height, 150′ truck court with 75’ concrete aprons, 60 dock-high doors, and is partially HVAC’d. The Property, excluding the master lease, is 91% leased to three tenants – Metalrays, Diakon, and Havertys Furniture –with a 4.2-year WALT and average annual escalations of 3.1%. The Offering further presents a dual-upside opportunity via meaningful mark-to-market upside of 24.1%, complemented by a master lease covering the 31,950 SF vacant suite through August 2027, providing immediate income stability during lease-up. The facility is strategically positioned along Interstate 10, one of Mobile’s major logistical thoroughfares, offering direct access to the Port of Mobile, located only 13 miles away, and the broader Gulf Coast region. The Property provides investors with the unique opportunity to acquire an asset with strong upside via vacant lease-up potential with stabilized asset economics in one of the most well-positioned distribution locations in the market. The Port of Mobile is one of the most efficient and accessible ports in the nation and the deepest port in the Gulf. Highlighted by 93% TEU growth over the last decade, the Port of Mobile is the 2nd fastest growing terminal in the country and requires significant expansion of the industrial base to service the Port. The Mobile industrial market boasts a healthy vacancy rate of 7.3%, which is even further compressed to 3.9% for comparable Class A buildings, and remains a historically tight market with zero new spec development underway and substantial tenant demand driven primarily by port-related users.

Market Context

This industrial in Theodore, AL is listed for sale at $353,045. The building dates to 2008. Compare it against other industrial listings for sale in Theodore, AL — view the full market.

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