Conery Manufacturing Corporate Sale-Leaseback
For sale to qualified investors is the 100% fee-simple interest in the Conery Manufacturing, Inc. facility located in Ashland, Ohio. At close of escrow, the new lease will be absolute triple-net with no landlord obligations and corporately guaranteed by Conery Manufacturing Inc., a company engaging in the manufacture of float switches with 38-year tenure at the site. The passive nature of this lease combined with the strong corporate guaranty make this an ideal 1031 replacement property or acquisition for an investor desiring a passive real estate investment. The property is being offered at an attractive 7.9% capitalization rate with a corresponding price of $4,140,760. Conery Manufacturing will commence a brand new 10 year corporately guaranteed lease following the closing of escrow. The property features three design and manufacturing facilities with recent renovations, including a new 7,200 SF building and concrete pavement loading dock access. Additionally, the property is strategically located next to Interstate 71 for convenient shipping and receiving. Notable manufacturers and retail tenants in the area include Ball Bounce and Sport, Inc., Fresenius Kidney Care, Snyder’s Lance, Barbasol, McGraw Hill, Bookmasters, Conery Manufacturing, McDonald’s, Chase Bank, Rite Aid, Burger King, Taco Bell, Wendy’s, PNC Bank, Walmart, Home Depot, Ashland University, and many others.