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Updated: 11.02.23 Posted: 11.02.23 Status: Inactive

Summary

Price $11,868,750
Built/Renov 1990
Tenant Frazer & Jones
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 211,000
Lease Start 12-01-2023
#Units 1
Price/SF $56.25
Expiration 12-01-2038
Tenant Type Industrial
NOI $949,500
R. Term 13.6
Ownership Fee Simple
Rent/SF $4.50
Increases 2.0%/1/yrs
Pop 5Mi 157,330
Lot/AC 17.90
Options 4/5yrs/2%
AHHI 5Mi $66,593

Lease Highlights

  • Frazer & Jones has a 179-year operating history
  • The tenant will be signing a new 15-year lease with 4 (5-year) options to extend upon close of escrow
  • The lease features 2% rental increases annually
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

This 211,000 square feet manufacturing facility is situated on just under 18 acres along Milton Ave. within close proximity to NY-695. Approximately 157,330 residents, earning an average household income of $66,593 occupy the 5-mile surrounding radius. Frazer and Jones is located in village of Solay, which is part of the metropolitan area of Syracuse, New York. It is in the town of Geddes in...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Frazer & Jones
  • Guarantor:Corporate
  • Company:Fidelis Holdings LLC
  • # Units:1
  • Stock:Private

About Tenant

Frazer & Jones is a world leader of high-quality products from raw castings to finished products. The company specializes in ductile and malleable iron castings. Founded in 1845, Frazer and Jones...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,937 44,948 160,902
2023 Total Population : 5,970 45,315 161,903
2023 Employed Civilian Pop : 2,811 23,090 73,495
2023 Total Businesses : 253 1,687 6,792
2023 Average Household Income : $ 79,821 $ 87,768 $ 76,836
2023 Total Consumer Spending : $ 183 M $ 1543 M $ 4598 M
2023 Median Age : 42 43 38
2023 Total Households : 2,652 20,280 68,486
2023 Pop Age 25+: Bachelor's Degree : 701 7,381 21,667
2023 Average Home Value : $ 213,681 $ 223,872 $ 213,421
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Lionel Ave 2021 191 0.20 mi
Milton Avenue N Orchard Rd 2021 6,811 0.27 mi
4th St 2021 392 0.29 mi
6th St 2021 184 0.29 mi
Milton Ave 2021 17,431 0.35 mi
Milton Ave 2021 933 0.37 mi
Horan Rd 2021 7,118 0.39 mi
3rd St 2021 582 0.40 mi
Horan Road Gemini Pl 2021 5,079 0.40 mi
2018 8,164 0.43 mi

Listing Broker

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