Bradbury Real Estate Group proudly presents:

4600 WESTINGHOUSE BLVD.

This 45,440 s.f. single-tenant industrial building enjoys a marquee address, a new 7-year NNN lease with 2% annual increases, and two 5-year lease extensions. The landlord

executed the lease in October 2019 with the legacy metal fabrication and machining operation that has occupied the building since its construction 21 years ago (1999).

4600 Westinghouse is an excellent opportunity for an investor looking for a high caliber manufacturing facility with solid income.

$3,500,000 (8% CAP RATE)

WESTINGHOUSE .4600

CONSTRUCTION Tilt-up concrete. 29,920 s.f. originally built in 1999 on ±3.5 acres. The property

enjoys 677’ of frontage on Westinghouse Blvd and 738’ on Ed Brown Road.

ZONING I-2 - Light Industrial

FACILITY USE The building includes 8,748 s.f. office space with 36,692 s.f. for manufacturing

operations, including a testing lab and breakroom. The ratio of office and

manufacturing/storage square footage is excellent. Typical uses include: CNC

precision machining, metal cutting and metal welding.

EXPANSION The current owner completed a 15,520 s.f. expansion in 2013 getting the building

to its current size - 45,440 s.f.

CEILING 16’ clear in manufacturing spaces, 9’ clear in office spaces.

DOORS The building includes two dock high doors and one drive through door.

COLUMNS 45’X45’

SYSTEMS HVAC through entire facility. Facility not sprinkled.

PROPERTY HIGHLIGHTS

WESTINGHOUSE .4600

RENTAL RATE $280,560 or $23,380/month with 2% annual increases during the

term of the lease plus extensions. Lease runs Oct 2019-Oct

2026. Additional rent due equal to the pass through of insurance

and taxes.

LANDLORD

RESPONSIBILITIES

Landlord is responsible for roof and structural elements of the

building. The roof is rubber membrane. Both the addition and

initial structure retain their original roofs.

TENANT

RESPONSIBILITIES

Tenant is responsible for utilities, building systems, landscaping,

windows, doors, glass, core building systems, drainage, fire, life

safety, security, mechanical, electrical, water, plumbing, HVAC,

indoor/outdoor lighting, walkways, drives and parking.

LEASE HIGHLIGHTS

WESTINGHOUSE .4600

The tenant, Quality Products, is a private equity-owned manufacturer and

fabricator of metal components serving the following end markets:

The Company has been in operation for 57 years, employing 38 Carolinians,

and serving over 100 customers annually.

The facility houses over 50 work centers for machining and fabrication

capabilities.• Power Generation • Defense • Rail

• Medical • Security • Industrial

TENANT OVERVIEW

WESTINGHOUSE .4600

SITE PLAN

WESTINGHOUSE .4600

AERIAL VIEW & NEARBY TRAFFIC COUNTS

SOURCE: NCDOT

WESTINGHOUSE .4600

ZONING MAP: INDUSTRIAL

I-2

4600 WESTINGHOUSE

WESTINGHOUSE .4600

• Many U.S cities have seen rapid growth in the commercial real estate sector over the last several year - Charlotte, NC included.

• Due to the ballooning population growth in Charlotte and the growing reputation as a major eCommerce hub, the city has become one of

the country’s top spots for industrial real estate growth.

• Charlotte ranks #4 in overall real estate prospects for U.S. markets according to a PwC and ULI report.

• Vacancy rates for industrial space in Charlotte have declined – from 12.4% in 2013 to about 4.3% in 2018/2019. Rent rates are

expected to rise given this demand.

• Across Charlotte, about 4.5 million square feet of industrial space was under construction in 2018. This number has grown to 7 million

square feet expected to be developed in late 2018/early 2019.

• Currently, the Charlotte industrial market is strong from a capital markets and leasing standpoint and the market is expected to sustain

this momentum for the next two years.

• Majority interest is coming from institutional investors, but private and foreign buyers have also been active.

• The Charlotte market ended Q4 2019 with 1,030,834 s.f. absorbed, while year-to-date absorption totaled over 3,500,000 s.f. The overall

vacancy rate hovered around 6.6%.

CHARLOTTE INDUSTRIAL MARKET

SOURCES: COLLIERS, CBRE, PR NEWSWIRE, CHARLOTTE OBSERVER

WESTINGHOUSE .4600

To discuss 4600 WESTINGHOUSE in more detail, please contact:

Matt Bradbury – 704.905.0565

WESTINGHOUSE .4600