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S I R I W I R E N E T L E A S EKILLINGLY, CT
O F F E R I N G M E M O R A N D U M
N O N - E N D O R S E M E N T & D I S C L A I M E R N O T I C E
CONFIDENTIALITY & DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and
should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified
information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the
future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos,
the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or
intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus &
Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty
or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth
herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
NON-ENDORSEMENT NOTICE
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is
not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or
commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
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OFFERING SUMMARY
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OFFERING PRICE
$2,765,000
CAP RATE
11.18%
GROSS SQUARE FOOTAGE 103,084
PRICE / SF $26.82
NET OPERATING INCOME $309,252
RENT / SF $3.00
LEASE TYPE NNN
CURRENT LEASE TERM OCTOBER 2016 – SEPTEMBER 2021
ROOF & STRUCTURE LANDLORD
PARCEL SIZE 5.0 ACRES
TOTAL
OFFERING SUMMARY // SIRE WIRE NET LEASE
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OFFERING SUMMARY
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PROPERTY DETAILS // SIRE WIRE NET LEASE
Property Address 90 Wauregan Road
Gross Leasable Area 103,084
Lot Size 5.00 Acres
Year Built 1937
Roof EPDM/Rubber Membrane
Structure Steel Frame/Cinder Block
Stories 2
PROPERTY DETAILS
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OFFERING SUMMARY
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Tenant Siri Wire
Lease Commencement 10/01/2016
Lease Expiration 9/30/2021
Optional Terms Five Years ($3 PSF)
Lease Type NNN
Roof & Structure Landlord
Guarantor Corporate
TENANT INFORMATION // SIRE WIRE NET LEASE
LEASE INFORMATION
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SIRI WIRE NET LEASE90 WAUREGAN ROAD, KILLINGLY, CT 06239
• Marcus & Millichap is pleased to present the opportunity to acquire this high-quality manufacturing investment situated in Connecticut. The building has been home to Siri Wire since 1994. This is an ideal market for the operation as it provides a strong labor
manufacturing labor market and easy logistics to the major east coast cities.
• Originally built at the turn of the century the building was completely overhauled in the late 1990s. Within the last few years a warrantied, rubber membrane roof was installed on the building. As such the future landlord should not have to worry about any maintenance
costs for the next decade or more.
• Siri occupies the building on a triple net lease paying directly for all utilities and fully reimbursing the landlord for other expenses. Landlord is only responsible for roof,
structure and the parking lot. This is an excellent opportunity to take advantage of the growth of the industrial real estate sector without taking on management responsibilities.
INVESTMENT OVERVIEW // SIRI WIRE NET LEASE
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SIRI WIRE
LOCATION OVERVIEW // SIRE WIRE NET LEASE
OFFERING SUMMARY
8
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TENANT PROFILE // SIRE WIRE NET LEASE
Siri Wire
General Information
Tenant Name Siri Wire
Website www.siriwire.com
Headquartered Connecticut
Locations 1
Percentage of RBA 100%
Lease Commencement 10/1/2016
Lease Expiration 9/30/2021
Founded in 1992 Siri Wire is a domestic producer of stainless-steel
wire and nickel-based alloys. They have been producing high
quality products in this same location for nearly three decades. In
2016 the company was purchased by Hitchcock Enterprises. The
Hitchcock family has been providing high quality metal products in
New England for over forty years.
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ACQUISITON FINANCING // SIRE WIRE NET LEASE
MARCUS & MILLICHAP CAPITAL CORPORATION CAPABILITIES
MMCC—our fully integrated, dedicated financing arm—is committed to
providing superior capital market expertise, precisely managed execution, and
unparalleled access to capital sources providing the most competitive rates and
terms.
We leverage our prominent capital market relationships with commercial banks,
life insurance companies, CMBS, private and public debt/equity funds, Fannie
Mae, Freddie Mac and HUD to provide our clients with the greatest range of
financing options.
Our dedicated, knowledgeable experts understand the challenges of financing
and work tirelessly to resolve all potential issues to the benefit of our clients.
National platform operating
within the firm’s brokerage offices
$6.24 billion total national
volume in 2018
Access to more capital sources than any other
firm in the industry
Closed 1,678 debt and equity
financings in 2018
Optimum financing solutions to enhance value
Our ability to enhance buyer pool by expanding
finance options
Our ability to enhance
seller control
• Through buyer qualification support
• Our ability to manage buyers finance expectations
• Ability to monitor and manage buyer/lender progress,
insuring timely, predictable closings
• By relying on a world class set of debt/equity sources
and presenting a tightly underwritten credit file
WHY MMCC?
KILLINGLYCONNECTICUT
POPULATION27,809
PROPERTY NAME
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DEMOGRAPHICS // SIRE WIRE NET LEASE
Source: © 2015 Experian
CREATED ON DECEMBER 30, 20191 Miles 3 Miles 5 Miles
POPULATION2023 Projection 3,772 14,369 28,856
2018 Estimate 3,674 13,959 27,809
2010 Census 3,695 14,113 28,048
2000 Census 3,595 13,424 26,007
INCOMEAverage $56,197 $70,014 $76,050
Median $49,698 $58,611 $63,786
Per Capita $23,801 $28,170 $29,089
HOUSEHOLDS2023 Projection 1,555 5,722 10,954
2018 Estimate 1,515 5,531 10,492
2010 Census 1,527 5,595 10,586
2000 Census 1,490 5,302 9,717
HOUSING2018 $202,988 $211,755 $221,172
EMPLOYMENT2018 Daytime Population 3,738 12,796 25,308
2018 Unemployment 7.39% 6.31% 5.41%
2018 Median Time Traveled 26 27 28
RACE & ETHNICITYWhite 87.95% 91.10% 91.55%
Native American 0.03% 0.08% 0.08%
African American 3.00% 2.15% 2.13%
Asian/Pacific Islander 3.93% 2.40% 1.78%
HARRISON KLEINThe Klein Group
Member – National OfficeMember – Industrial Properties Group
BOSTON OFFICETel: (617) 896-7237Fax: (617) 539-8331
[email protected] Licenses: MA 9550667, FL SL3235244
LAURIE ANN (L.A.) DRINKWATER, CCIMFirst Vice President Investments
Senior Director – National Retail Group Senior Director – Net Leased Properties Group
BOSTON OFFICETel: (617) 896-7230
Fax: (617) [email protected]
Licenses: MA 147511, CT REB.0751880, RI B 16787
SETH J. RICHARDFirst Vice President Investments
Senior Director – National Retail Group Senior Director – Net Leased Properties Group
MANHATTAN OFFICETel: (212) 430-5164Fax: (617)866-3242
[email protected]: MA 149700, CT RES-0764595,
NY 10401275108
