Investment Highlights: * Leasehold interest coterminous with NNN lease * NNN leased to El Dorado Stone, a wholly owned subsidiary of Boral (investment grade credit), for 15 years with an option for a 5yr extension * The Landlord holds a $200k Letter of Credit issued by Bank of America valid through year 4 of the lease as well as a $130k security deposit. * Strategically located in the Inland Empire, one of the most robust markets in the United States * The site is easily accessible from Perris Boulevard, a main artery supporting the greater Perris, Moreno Valley marketplace * Convenient access to the Ports of Long Beach/Los Angeles, as well as direct transportation routes to service the West Coast * Originally built in 1983 with complete renovation 2016 Investment Overview: 24100 Orange Avenue is an 87,730 square foot industrial facility. The property is 100% NNN leased for 15 years to Eldorado Stone, whose parent company and guarantor, Headwaters Inc. has investment grade credit (BBB Credit Rating) and is a wholly owned subsidiary of Boral Ltd. (BLD.AX), an Australian stock exchange listed public company with a $7.8 billion market capitalization. Investors have the unique opportunity to acquire a mission critical, Tier 1 located asset with credit tenancy, providing security and long term stable cash flow while also providing additional after tax savings due to additional depreciation. Located in South Riverside, a “Tier 1 Industrial market,” the asset benefits from a 1.0% vacancy rate, one of the lowest in the nation. Tenant Overview: El Dorado Stone is a leading manufacturer of architectural stone veneer with an unwavering reputation for high quality products. Over 45 years, the company has become recognized as a leader in quality and innovation in the U.S. and around the world. It's product line includes brick veneer, fireplace surrounds, and outdoor living solutions. El Dorado Stone is a wholly owned subsidiary of Headwaters Inc., which until its May 2017 acquisition by Boral Ltd. was a NYSE listed public company. Headwaters Inc. manufactures and markets a portfolio of high-margin, niche building products for home exteriors. Headwaters Inc. is now a wholly owned subsidiary of Boral Ltd., a publicly traded international building and construction materials group headquartered in Australia with a $7.8 billion market capitalization and investment grade credit. Ground Lease: 2016 Nov 1 - 2026 Oct 31 2026 Oct 31 - 2031 Oct 31 2031 Oct 31 - 2036 Oct 31 10-Year Initial Lease Term 5-Year First Option to Extend 5-Year Second Option to Extend ***$20,000 Base Rent commenced 9/8/15 with 2% annual escalations, thru and including extension options.*** Eldorado Stone Lease: 2016 Nov 1 - 2031 Oct 31 2031 Oct 31 - 2036 Oct 31 15-Year Initial Lease Term 5-Year Option to Extend ***$65,000 Base Rent commenced 11/1/2016 with 2% annual escalations, thru and including extension options.***
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Industrial Space
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