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Presented By:Kevin Jennings Jonathan Little413.731.7770 [email protected] [email protected]
107 FIRST AVENUEChicopee, MA 01020
73 Chestnut Street Springfield, MA 01103JENNINGS-RE.COM
Single Tenant Net Leased Industrial Facility
The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of Jennings Real Estate Services, Inc. or Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.
The only party authorized to represent the Property Owner (“Owner”) in connection with the sale of the Property is Jennings Real Estate Services, Inc., and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to Jennings Real Estate Services, Inc.
Neither the Jennings Real Estate Services, Inc. nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by Jennings Real Estate Services, Inc. with respect to the projected future performance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, Jennings Real Estate Services, Inc. and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner.
The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or Jennings Real Estate Services, Inc., nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.
This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and Jennings Real Estate Services, Inc. from any liability with respect thereto.
To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.
107 First Avenue Chicopee, MA 01020SINGLE TENANT NET LEASED INDUSTRIAL FACILITY
Disclaimer
The information herein is from sources deemed reliable but no warranty of representation is made to the accuracy thereof. Offering is subject to errors and omissions as well as prior sale, change or withdrawal without notice.
Presented By:Kevin Jennings Jonathan Little413.731.7770 [email protected] [email protected]
73 Chestnut Street Springfield, MA 01103jennings-re.com
OFFERING SUMMARY
Sale Price: $2,555,000
Lot Size: 2.92 Acres
Year Built: 1967 & 1997
Building Size: 40,000
Zoning: Industrial
Price / SF: $63.88
The property consists of an approximate 40,000 square foot building that is net leased withapproximately 8+ years remaining to Hoppe Technologies, a division of PrecinmacPrecision Machining. Hoppe Technologies has evolved from a small precisionmanufacturing company to an ISO 9001:2008 and EN/JISQ/AS9100:2009 certifieddiverse, thriving organization that serves a broad range of industries; from defense contractsand medical companies to commercial clients and optics manufacturers.
Hoppe Technologies runs a 24-hour, 7-day-a-week facility that boasts lights-out productioncapability thanks to their perpetual capital reinvestment. Hoppe Technologies has evolvedinto a single-source solution for close tolerance fabrication, machining & finishing of alloy,specialty alloy and composite materials. They collaborate with their customers inDesign-for-Manufacturing events to lower cost, shorten lead times, increase predictabilityand provide on-time inventories.
TENANT OVERVIEW
The property is located at the Crossroads of New England and benefits from excellenthighway access at the intersection of the Massachusetts Turnpike Exit 6 and Interstate 291.
LOCATION OVERVIEW
107 First Avenue Chicopee, MA 01020SINGLE TENANT NET LEASED INDUSTRIAL FACILITY
Executive Summary
The information herein is from sources deemed reliable but no warranty of representation is made to the accuracy thereof. Offering is subject to errors and omissions as well as prior sale, change or withdrawal without notice.
Presented By:Kevin Jennings Jonathan Little413.731.7770 [email protected] [email protected]
73 Chestnut Street Springfield, MA 01103jennings-re.com
The information herein is from sources deemed reliable but no warranty of representation is made to the accuracy thereof. Offering is subject to errors and omissions as well as prior sale, change or withdrawal without notice.
Presented By:Kevin Jennings Jonathan Little413.731.7770 [email protected] [email protected]
73 Chestnut Street Springfield, MA 01103jennings-re.com
PARENT OVERVIEW
Company: Precinmac Precision Machining
Founded: 1974
Headquarters: Guelph, Ontario, Canada
Website: WWW.PRECINMAC.COM
PARENT COMPANY HIGHLIGHTS
• Four North American Facilities
• 227,000 total Square Feet
• 560 Associates
• 472 Machines
• All facilities are ISO: 9001;2008 and AS9001 certified
Precinmac is a leading diversified manufacturer of high tolerance precisionmachined components and assemblies. They formulate cost saving alternativesto current production and sourcing methods by offering a single source solutionfor precise, high-quality, flexible and on-time manufacturing to top-tier globalcostumers. Their manufacturing capabilities enable execution of all complex,highly engineered designs. With four locations in the United States andCanada they are your ideal single source solution for close tolerance fabrication,machining and finishing of alloy, speciality alloy and composite materials.
ABOUT PRECINMAC
Their manufacturing capabilities enable execution of all complex, highlyengineered designs. With four locations in the United States and Canada theyare your ideal single source solution for close tolerance fabrication, machiningand finishing of alloy, speciality alloy and composite materials.They have a history of delivering value to our customers through ourengineering expertise, lean manufacturing techniques and unparalleled quality.
Ttimaster Manufacturing, Inc., Guelph, OntarioMaine Machine Products, Inc., South Paris, MaineHPG, Inc., Oakville, OntarioHoppe Technologies, Chicopee, Massachusetts
LOCATIONS
107 First Avenue Chicopee, MA 01020SINGLE TENANT NET LEASED INDUSTRIAL FACILITY
Tenant Profile
The information herein is from sources deemed reliable but no warranty of representation is made to the accuracy thereof. Offering is subject to errors and omissions as well as prior sale, change or withdrawal without notice.
Presented By:Kevin Jennings Jonathan Little413.731.7770 [email protected] [email protected]
73 Chestnut Street Springfield, MA 01103jennings-re.com
ANNUALIZED OPERATING DATA
Year Monthly Rent Annual Rent RPSF Cap Rate
11/2018-10/2019 $17,030.47 $204,365.64 $5.11 8.00%11/2019-10/2020 $17,519.72 $210,236.64 $5.26 8.23%11/2020-10/2021 $18,023.65 $216,283.80 $5.41 8.47%11/2021-10/2022 $18,542.69 $222,512.28 $5.56 8.71%11/2022-10/2023 $19,077.31 $228,927.72 $5.72 8.96%11/2023-10/2024 $19,627.96 $235,535.52 $5.89 9.22%11/2024-10/2025 $20,195.14 $242,341.68 $6.06 9.48%11/2025-10/2026 $20,779.33 $249,351.96 $6.23 9.76%
LEASE SUMMARY
Tenant Name: Hoppe Technologies Inc.Lease Type: NNNRoof and Structure: Landlord Responsibility with
Partial Tenant RepaymentOriginal Lease Term: Ten (10) YearsRent Commencement Date: November 1, 2016Lease Expiration Date: October 31, 2026Term Remaining on Lease: +/- 8.0 YearsBase Rent Increases: 3% Annual Increases
107 First Avenue Chicopee, MA 01020SINGLE TENANT NET LEASED INDUSTRIAL FACILITY
Lease Summary
The information herein is from sources deemed reliable but no warranty of representation is made to the accuracy thereof. Offering is subject to errors and omissions as well as prior sale, change or withdrawal without notice.
Presented By:Kevin Jennings Jonathan Little413.731.7770 [email protected] [email protected]
73 Chestnut Street Springfield, MA 01103jennings-re.com
SALE PRICE $2,555,000
LOCATION INFORMATION
Building Name Single Tenant Net Leased Industrial Facility
Street Address 107 First Avenue
City, State, Zip Chicopee, MA 01020
County/Township Hampden
Cross Streets
BUILDING INFORMATION
Building Size 40,000 SF
Tenancy Single
Number Of Grade Level Doors 2
Number Of Dock High Doors 1
Ceiling Height 16 ft
Office Space Approximately 4,000 SF
Number Of Floors 1
Year Built 1967 with an addition in 1997
Gross Leasable Area 40,000 SF
Construction Steel Frame
Exterior Masonry & Corrugated Metal
Roof Rubber Membrane & Standing Seam
Metal
SITE DETAILS
Property Type Industrial
Property Subtype Manufacturing
Zoning Industrial
Lot Size 2.92 Acres
UTILITIES & MECHANICALS
Electric Supplier Chicopee Electric Light
Electric Service 1600 amp, 480 v, 3 phase
Gas Supplier Columbia Gas
Water/Sewer City of Chicopee
HVAC 100 % Air Conditioned
1-Trane 25 Ton-2017
2-Trane 15 Ton- 2017
1- Trane 7.5 Ton- 2017
1- Trane 4 Ton- 2017
1- Carrier 12.5 Ton- 2012
2- Trane 12.5 Ton- 2007
2- Trane 5 Ton- 2007
1-Carrier 7.5 Ton
Sprinklers Partial Wet Sprinkler System
107 First Avenue Chicopee, MA 01020SINGLE TENANT NET LEASED INDUSTRIAL FACILITY
Property Details
The information herein is from sources deemed reliable but no warranty of representation is made to the accuracy thereof. Offering is subject to errors and omissions as well as prior sale, change or withdrawal without notice.
Presented By:Kevin Jennings Jonathan Little413.731.7770 [email protected] [email protected]
73 Chestnut Street Springfield, MA 01103jennings-re.com
107 First Avenue Chicopee, MA 01020SINGLE TENANT NET LEASED INDUSTRIAL FACILITY
Additional Photos
The information herein is from sources deemed reliable but no warranty of representation is made to the accuracy thereof. Offering is subject to errors and omissions as well as prior sale, change or withdrawal without notice.
Presented By:Kevin Jennings Jonathan Little413.731.7770 [email protected] [email protected]
73 Chestnut Street Springfield, MA 01103jennings-re.com
107 First Avenue Chicopee, MA 01020SINGLE TENANT NET LEASED INDUSTRIAL FACILITY
Site Plan
The information herein is from sources deemed reliable but no warranty of representation is made to the accuracy thereof. Offering is subject to errors and omissions as well as prior sale, change or withdrawal without notice.
Presented By:Kevin Jennings Jonathan Little413.731.7770 [email protected] [email protected]
73 Chestnut Street Springfield, MA 01103jennings-re.com
107 First Avenue Chicopee, MA 01020SINGLE TENANT NET LEASED INDUSTRIAL FACILITY
Location Maps
The information herein is from sources deemed reliable but no warranty of representation is made to the accuracy thereof. Offering is subject to errors and omissions as well as prior sale, change or withdrawal without notice.
Presented By:Kevin Jennings Jonathan Little413.731.7770 [email protected] [email protected]
73 Chestnut Street Springfield, MA 01103jennings-re.com
Single Tenant Net LeasedIndustrial Facility
107 First Avenue Chicopee, MA 01020SINGLE TENANT NET LEASED INDUSTRIAL FACILITY
Aerial Map
The information herein is from sources deemed reliable but no warranty of representation is made to the accuracy thereof. Offering is subject to errors and omissions as well as prior sale, change or withdrawal without notice.
Presented By:Kevin Jennings Jonathan Little413.731.7770 [email protected] [email protected]
73 Chestnut Street Springfield, MA 01103jennings-re.com
POPULATION 1 MILE 5 MILES 10 MILES
Total population 4,309 230,596 526,197
Median age 43.2 34.8 37.1
Median age (male) 43.3 33.0 35.7
Median age (Female) 43.3 36.7 38.9
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
Total households 1,817 87,448 203,051
# of persons per HH 2.4 2.6 2.6
Average HH income $61,108 $49,498 $59,409
Average house value $198,600 $182,920 $236,210
* Demographic data derived from 2010 US Census
107 First Avenue Chicopee, MA 01020SINGLE TENANT NET LEASED INDUSTRIAL FACILITY
Demographics Map
jennings-re.com73 Chestnut Street Springfield, MA 01103