investment - single tenant nnn office building for sale · feinberg real estate advisors, llc...
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Office Building For Sale
feinbergrea.comFeinberg Real Estate Advisors, LLC
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Investment - Single Tenant NNNOffice Building for Sale
3801 Paxton Street, Harrisburg, PA 17111
Section: 1
PROPERTY INFORMATION
Call for Offers will be due on November 30, 2017 at 5:00 PM
Investment - Single Tenant NNNOffice Building for Sale
3801 Paxton Street, Harrisburg, PA 17111
Feinberg Real Estate Advisors, LLC1390 Ridgeview Drive, Suite 301 • Allentown, PA 18104-9065 • 610.709.6233 • Fax. 610.398.4057 • www.feinbergrea.com
CINDY MCDONNELL [email protected]: 610.360.9733Direct: 610.709.62313
As exclusive sales agent, Feinberg Real Estate Advisers is pleased tooffer for sale the fee simple interest in 3801 Paxton Street,Harrisburg, PA, a single tenant NNN two-story 61,198 square footprofessional office building on 9.22 acres.
PROPERTY FEATURESThe property is 100% leased with a single tenant leaseexpiring on January 31, 2028.
2018 Net Operating Income is $578,250.24
3% annual rent increases
First quality finishes and upgrades
For additional information and a full investment package,please contact Cindy McDonnell Feinberg at 610-709-6231 orGregg Feinberg at 610-709-6233.
Broker/Agent has percentage ownership of the property
SALE PRICE: $8,625,000
LOT SIZE: 9.22 Acres
BUILDING SIZE: 61,198 SF
BUILDING CLASS: A
YEAR BUILT: 2006
RENOVATED: 2017
ZONING: M-L
CROSS STREETS: Friendship Road & Paxton Street
PROPERTY OVERVIEW3801 Paxton Street, Harrisburg, PA, a single tenant NNNtwo-story 61,198 square foot professional office building on9.22 acres. This building was updated in 2017 and is allfitted with high end first quality office furniture. Served bynatural gas, electric, public water and sewer. This building iszoned "M-L" Limited Manufacturing District.
LOCATION OVERVIEWLocated in Swatara Township, Dauphin County this buildingis located in the vibrant commercial development known asTecPort, east of the Harrisburg Mall. The area has a mix ofhotels, professional class A office buildings, restaurants andretail oriented buildings. The building has frontage on PaxtonStreet and is at the corner of Paxton Street, Freindship Roadand TecPort Drive. Paxton Street runs parallel with Interstate83. Access to US Route 322, Interstate 283 andPennsylvania Turnpike.
TENANTThe current tenant is a very strong corporate tenant with a10 year NNN lease on the building that will expire on January31, 2028.
TENANT RESPONSIBILITIESTenant pays for all utilities, water and sewer, cleaning andtaxes.
Property Description
Investment - Single Tenant NNNOffice Building for Sale
3801 Paxton Street, Harrisburg, PA 17111
Feinberg Real Estate Advisors, LLC1390 Ridgeview Drive, Suite 301 • Allentown, PA 18104-9065 • 610.709.6233 • Fax. 610.398.4057 • www.feinbergrea.com
CINDY MCDONNELL [email protected]: 610.360.9733Direct: 610.709.62314
Property Details
Investment - Single Tenant NNNOffice Building for Sale
3801 Paxton Street, Harrisburg, PA 17111
Feinberg Real Estate Advisors, LLC1390 Ridgeview Drive, Suite 301 • Allentown, PA 18104-9065 • 610.709.6233 • Fax. 610.398.4057 • www.feinbergrea.com
CINDY MCDONNELL [email protected]: 610.360.9733Direct: 610.709.62315
STREET ADDRESS: 3801 Paxton Street
CITY, STATE, ZIP: Harrisburg, PA 17111
PROPERTY TYPE: Office
APN: 63-027-297
LOT SIZE: 9.22 AC
BUILDING CLASS: A
ZONING: M-L
PARKING SPACES: 620
PARKING RATIO: 11.08/1000
BUILDING FRONTAGE: Paxton Street
CROSS STREETS: Paxton Street & Friendship Road
YEAR BUILT: 2006
NUMBER OF STORIES: 2
FOUNDATION: On slab
WALLS: Brick and glass, interior is drywall
NUMBER OF UNITS: 1
ROOF: Flat rubber roof
Complete Highlights
Investment - Single Tenant NNNOffice Building for Sale
3801 Paxton Street, Harrisburg, PA 17111
PROPERTY HIGHLIGHTS
• Landmark building anchoring TecPort Business Park• Built in 2006 and updated in Spring of 2017
• The property is 100% leased with a NNN single tenant leaseexpiring on January 31, 2028.
• 2018 Net Operating Income is $578,250.24
• 3% annual rent increases
• Extensive renovations and upgrades
• First quality finishes and unique design
• Computerized building management system
• Excellent visibility and access from Interstate 83
• Professionally managed
• 620 parking spaces; superb 11 space per 1000 SF ratio
• Low common area factor of 8.46%
• 750kV back-up generator
• Fully alarmed and proximity card access system
• Underground drainage system to manage storm water andto utilize the area for parking
• For additional information and a full investment package,please contact Cindy McDonnell Feinberg at 610-709-6231or Gregg Feinberg at 610-709-6233.
• Broker/Agent has percentage ownership of the property
Feinberg Real Estate Advisors, LLC1390 Ridgeview Drive, Suite 301 • Allentown, PA 18104-9065 • 610.709.6233 • Fax. 610.398.4057 • www.feinbergrea.com
CINDY MCDONNELL [email protected]: 610.360.9733Direct: 610.709.62316
• Very Strong Corporate Tenant
• 10 year lease
• In business since 1981
• TecPort tenant for over 10 years
• Numerous Fortune 1000 and state
government clients
Tenant Profile
Investment - Single Tenant NNNOffice Building for Sale
3801 Paxton Street, Harrisburg, PA 17111
Computer Aid, Inc.
With more than 4,500 people and offices throughout the United States, CAIis a leader in consulting, technology, and outsourcing services. We drivevalue, improve productivity and enhance the customer experience throughtechnology, process refinement, and innovation. Headquartered inAllentown, PA our team works with Fortune 1000 companies and local, stateand federal agencies to drive IT innovation. For more information visitwww.compaid.com
TENANT HIGHLIGHTS
Feinberg Real Estate Advisors, LLC1390 Ridgeview Drive, Suite 301 • Allentown, PA 18104-9065 • 610.709.6233 • Fax. 610.398.4057 • www.feinbergrea.com
CINDY MCDONNELL [email protected]: 610.360.9733Direct: 610.709.62317
Feinberg Real Estate Advisors, LLC1390 Ridgeview Drive, Suite 301 • Allentown, PA 18104-9065 • 610.709.6233 • Fax. 610.398.4057 • www.feinbergrea.com
CINDY MCDONNELL [email protected]: 610.360.9733Direct: 610.709.62318
Additional Photos
Investment - Single Tenant NNNOffice Building for Sale
3801 Paxton Street, Harrisburg, PA 17111
Section: 2
LOCATION INFORMATION
3801 Paxton Street
Regional Map
Investment - Single Tenant NNNOffice Building for Sale
3801 Paxton Street, Harrisburg, PA 17111
Feinberg Real Estate Advisors, LLC1390 Ridgeview Drive, Suite 301 • Allentown, PA 18104-9065 • 610.709.6233 • Fax. 610.398.4057 • www.feinbergrea.com
CINDY MCDONNELL [email protected]: 610.360.9733Direct: 610.709.623110
Feinberg Real Estate Advisors, LLC1390 Ridgeview Drive, Suite 301 • Allentown, PA 18104-9065 • 610.709.6233 • Fax. 610.398.4057 • www.feinbergrea.com
CINDY MCDONNELL [email protected]: 610.360.9733Direct: 610.709.623111
Location Maps
Investment - Single Tenant NNNOffice Building for Sale
3801 Paxton Street, Harrisburg, PA 17111
Aerial Map
Investment - Single Tenant NNNOffice Building for Sale
3801 Paxton Street, Harrisburg, PA 17111
Feinberg Real Estate Advisors, LLC1390 Ridgeview Drive, Suite 301 • Allentown, PA 18104-9065 • 610.709.6233 • Fax. 610.398.4057 • www.feinbergrea.com
CINDY MCDONNELL [email protected]: 610.360.9733Direct: 610.709.623112
Section: 3
DEMOGRAPHICS
Feinberg Real Estate Advisors, LLC1390 Ridgeview Drive, Suite 301 • Allentown, PA 18104-9065 • 610.709.6233 • Fax. 610.398.4057 • www.feinbergrea.com
CINDY MCDONNELL [email protected]: 610.360.9733Direct: 610.709.623114
* Demographic data derived from 2010 US Census
Demographics Map
Investment - Single Tenant NNN Office Building for Sale
3801 Paxton Street, Harrisburg, PA 17111
ETHNICITY 1 MILE 3 MILES 5 MILES% HISPANIC 8.7% 11.9% 9.9%
RACE 1 MILE 3 MILES 5 MILES% WHITE 68.9% 56.0% 62.9%% BLACK 19.3% 32.3% 26.5%% ASIAN 6.1% 3.6% 3.2%% HAWAIIAN 0.0% 0.0% 0.0%% INDIAN 0.0% 0.0% 0.1%% OTHER 3.0% 3.9% 3.4%
POPULATION 1 MILE 3 MILES 5 MILESTOTAL POPULATION 5,940 73,517 166,121MEDIAN AGE 40.3 36.7 37.5MEDIAN AGE (MALE) 39.2 34.7 35.8MEDIAN AGE (FEMALE) 41.5 38.6 38.9
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILESTOTAL HOUSEHOLDS 2,277 29,637 69,974# OF PERSONS PER HH 2.6 2.5 2.4AVERAGE HH INCOME $60,725 $52,840 $56,975AVERAGE HOUSE VALUE $152,839 $133,540 $153,704
Feinberg Real Estate Advisors, LLC, (the "Agent") have been engaged as the exclusive sales representatives for the sale of 3801 Paxton Street, Harrisburg PA
17111 (the "Property") by 3801 Paxton Equities, LLC (the "Seller").
The Property is being offered for sale in an "as-is, where-is" condition, and the Seller and the Agent make no representations or warranties as to the accuracy of the
information contained in this Offering Memorandum. The enclosed materials include confidential information and are being furnished solely for the purpose of
review by prospective purchasers ("Purchasers") of the interest described herein for which it shall be fully and solely responsible. Neither the enclosed materials,
nor any information contained herein, are to be used for any other purpose, or made available to any other person without the express written consent of the Seller.
Each recipient, as a prerequisite to receiving the enclosed information, should be registered with the Agent as a "Registered Potential Investor" or as a "Buyer's
Agent" for an identified "Registered Potential Investor". The use of this Offering Memorandum, and the information provided herein, is subject to the terms,
provisions and limitations of the Confidentiality Agreement furnished by the Agent subsequent to delivery of this Offering Memorandum.
The material contained herein is based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by
the Agent or the Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners, and directors, as to its accuracy or
completeness. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but
rather only outlines of some of the principal provisions contained therein. Neither the Seller nor the Agent shall have any liability whatsoever for any other written or
oral communication or information transmitted, or made available, or any action taken, or decision made by the recipient with respect to the Property.
The Seller reserves the right, at its sole and absolute discretion, to withdraw the Property from the market for sale at any time and for any reason without notice, to
reject any and all expressions of interest or offers regarding the Property, and/or to terminate discussions with any entity at any time, with or without notice. This
Offering Memorandum is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawal from the market without notice.
The Agent is not authorized to make any representations or agreements on behalf of the Seller. The Seller shall have no legal commitment or obligation to any
recipient reviewing the enclosed materials, performing additional investigation, and/or making an offer to purchase the Property unless and until a binding written
agreement for the purchase of the Property has been fully executed, delivered, and approved by Seller and any conditions required under the contract for title to
pass from the Seller to the buyer have been satisfied or waived.
By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents will be held and
treated in the strictest of confidence; and (b) the recipient shall not contact employees, contractors, sub-contractors or lien-holders of the Property directly or
indirectly regarding any aspect of the enclosed materials or the Property without the prior written approval of the Seller or the Agent; and (c) no portion of the
enclosed materials may be copied or otherwise reproduced without the prior written authorization of the Seller or the Agent or as otherwise provided in the
Confidentiality Agreement executed and delivered by the recipient(s) to Agent.
The Seller will be responsible for any commission due to the Agent in connection with a sale of the Property. However, any broker engaged by Purchaser ("Buyer's
Broker") shall seek its commission only from the Purchaser. Under no circumstances will the Agent or the Seller be liable for same and recipient will indemnify and
hold the Agent and the Seller harmless from any claims by any brokers having dealt with recipient other than the Agent. Any Buyer's Broker must provide a
registration signed by the recipient acknowledging said Buyer's Broker's authority to act on the recipient's behalf.
CINDY MCDONNELL FEINBERG, CCIM GREGG M. FEINBERG, ESQUIRE
(O) 610-709-6231 (C) 610.360.9733 [email protected] (O) 610-709-6233 (C) 484.201.6645 [email protected]
CONFIDENTIALITY
& CONDITIONS