Current Use by Public Records
- Industrial properties
Property Details for 3620 Borgen Dr
- Year built
- 2022
- Lot size
- 45.41 lot acres
- Property type
- Industrial properties
- Property subtype
- Distribution centers
Description
This exceptional investment opportunity presents a brand-new, 217,323-square-foot distribution facility in Danville, Illinois. Completed in September 2022, the building is fully leased to FedEx Ground Package System, Inc. under a 10-year net lease commencing September 30, 2022, and expiring September 30, 2032. The lease includes a 5% rent increase in year six and two 5-year renewal options. The property boasts 44 dock-high doors, a 32-foot ceiling height, and ample parking for 514 vehicles. Situated on a 45.41-acre lot, the single-tenant building generates a substantial net operating income (NOI) of $2,429,427. The tenant is responsible for all operating expenses except roof and structural maintenance and repairs. This investment offers a secure, long-term lease with a financially strong, investment-grade tenant, making it an attractive addition to any portfolio. The property also offers potential for future expansion both within the existing building and on the site. The strategic location in Danville, Illinois, benefits from a robust agricultural economy and proximity to major universities, including the University of Illinois and Purdue University. This is a rare opportunity to acquire a high-quality, income-producing asset with a blue-chip tenant.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Danville
- County
- Vermilion
- State
- Illinois
- Longitude
- -87.5383
- Latitude
- 40.1054
