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1571 Gressel Dr Delphos, OH 45833

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For Sale
$6,200,000

Net lease freezer/cooler industrial building leased to HydroFresh HPP Ltd.

Property size:
36,616 SF

Property Features for 1571 Gressel Dr

General Information

Size
36,616 SF

Building Details

Year built
2010

Source: Mark Baringer Agent Mark Baringer

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Net Lease Freezer/Cooler Investment

The subject property is a net lease freezer/cooler industrial building leased to HydroFresh HPP Ltd. The lease is guaranteed by Universal Pure, a provider of high pressure processing and cold chain solutions for food and beverage customers in North America. Universal acquired HydroFresh HPP in 2022. Tenant financials are available for due diligence. There are eight years remaining on the original ten-year lease, with 3% annual rent escalations. There are also two five-year options to renew. The ten-year lease commenced on 6/1/2022. It is an absolute net lease with 3% annual escalations. The current annual lease rate is $393,381. The lease term ends in June 2032. The property is 36,616 square feet. Delphos is located on US 30 between Lima and Van Wert in Northwest Ohio, and is part of both Van Wert and Allen counties. Lima/Allen County was recognized as the #3 metro under 200,000 population for economic development in the country, as determined by Site Selection magazine. The subject is located in an industrial area along US 30. This area includes multiple buildings for Lakeview Farms, a food manufacturer of dips, desserts and specialty products nationally. A new $3-35 million expansion is planned for the Lakeview campus. The area also includes Vanamatic, a global supplier of precision made products, and Rode's Meats, a new $6 million meat processing facility. It is also adjacent to Wannemacher Commercial Park and a new Love's travel center.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Hydrofresh HPP Food Processing Company

Suggested Use

Restaurant Realty agency Law Firm Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Delphos
County
Allen
State
Ohio
Longitude
-84.32169
Latitude
40.856607

FAQs

What type of property is this?
Industrial property - Net lease freezer/cooler industrial building leased to HydroFresh HPP Ltd.
Where is this industrial property located?
The property is located at 1571 Gressel Dr Delphos, OH.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: - Net lease freezer/cooler industrial building leased to HydroFresh HPP Ltd, guaranteed by Universal Pure.; - Absolute net lease with 8 years remaining and two 5-year renewal options.; - **3% annual rent escalations.**
More about this property
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