Overview
- Updated On:
- July 4, 2023
Description
- Closed at 6.22% Cap Rate
- Absolute net lease with no landlord responsibilities
- +/- 9 years of firm lease term remaining
- 2% annual rental rate escalations
- Long-term operating history with the Asset originally established in 1969 with Easley Custom Plastics as the Tenant. The business was acquired by Wilbert Plastics Services in 2011
- Tenant’s parent company was acquired by Berkshire Hathaway in October 2022
- Entity level financial reporting and strong unit level performance | Lease Guarantor Piedmont Manufacturing Group, LLC
- Berkshire Hathaway has credit ratings of S&P AA and Moody’s AA2
- Alleghany Corporation’s credit rating was reaffirmed AA by S&P in October 2022 and upgraded to A1
- Tenant is wholly owned subsidiary
Address: 2930 GREENVILLE HIGHWAY
City: EASLEY
State/County: South Carolina
Zip: 29640
Country: United States
Property Id: 20226
Price: $ 15,885,039
Price/SF: $61.79
Cap Rate: 6.22%
Building Size: 257,086 SF
Lot Size: 77.82 Acres
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