4025 & 4063 Viscount

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4025 & 4063 VISCOUNT AVENUE 4025 & 4063 Viscount Avenue Memphis, TN 38118 Southeast Submarket 1,006,000 Total Sq Ft WAREHOUSE SPACE For Lease or Sale David B. Curran, Jr., CCIM Direct: 901.273.2358 Cell: 901.289.7116 [email protected] FOR MORE INFORMATION: www.commadv.com NORTH 4025 VISCOUNT AVE 4063 VISCOUNT AVE

description

1,006,000 Total Sq Ft Warehouse Space For Sale or Lease

Transcript of 4025 & 4063 Viscount

Page 1: 4025 & 4063 Viscount

4 0 2 5 & 4 0 6 3V I S C O U N T AV E N U E

4025 & 4063 Viscount AvenueMemphis, TN 38118Southeast Submarket

1,006,000 Total Sq Ft WAREHOUSE SPACEFor Lease or Sale

David B. Curran, Jr., CCIMDirect: 901.273.2358Cell: [email protected]

FOR MORE INFORMATION:

www.commadv.com

NORTH

4025 VISCOUNT AVE

4063 VISCOUNT AVE

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4 0 2 5 & 4 0 6 3 V I S C O U N T AV E N U E

I. INTRODUCTION

II. PROPERTY

III. MARKET

IV. LOCATION

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I . I N T R O D U C T I O N

• Approximately one million square feet in two connected properties

• 38.87 +/- acre site in excellent location

• Clear ceiling heights ranging from 32’ to 20’

• Office build out of approximately 6%

• Ample parking for cars, trucks, and trailer storage

• Superior interstate access, plus a direct route to the Memphis International Airport only 2.5 miles away

• Each building is well suited to either single or multiple tenants

PROPERTY HIGHLIGHTS

Cushman & Wakefield / Commercial Advisors is pleased to

offer to qualified investors or tenants the opportunity to pur-

chase or lease 4025 & 4063 Viscount Avenue, a one million

square foot warehouse facility located in Memphis, TN. Previ-

ously occupied in its entirety by Cleo Gift Wrap, the Property

offers a prime location in Memphis’ core Southeast industrial

submarket. The highly visible site is located at the intersection

of Viscount Avenue and Regal Boulevard and provides excel-

lent access to the Memphis International Airport and the sur-

rounding Interstate Highways.

Pricing: Asking $6.00 per square foot for purchase

Asking $1.85 NNN for lease

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I I . P R O P E RT Y

Corporate HQRoof Age: 199560,760 sf Office

Giftwrap AssemblyRoof Age: 201121’ clear height

PrintingRoof Age: 201120’ clear height

Giftwrap AssemblyRoof Age: 201120’ clear height

WarehouseRoof Age: 2011

height

WarehouseRoof Age: 199632’ clear height

WarehouseRoof Age: 199620’ clear height

WarehouseRoof Age: 199632’ clear height

32’ clear

100,416+/- SF

243,000 +/- SF 124,600 +/- SF

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Address: 4025 and 4063 Viscount Avenue

Memphis, Tennessee 38118

Rentable Area: Warehouse: 904,324 Sq Ft

Mezzanine: 41,323 Sq Ft

Office: 60,919 Sq Ft

Total: 1,006,170 +/- Sq Ft

Building Type: Warehouse/Distribution

Zoning: I-H Heavy Industrial District

Land Area: 38.87 +/- acres

Year Built: In phases from 1963 to 1979

Occupancy: Available starting 12/31/11

Construction: Concrete tilt-up

Ceiling Height: Ranges of 32’ (approximately 50% of Prop-

erty) to 20’ clear height

Truck Doors: 64 covered dock high doors, 3 ramp ac-

cess docks, 26 rail docks, 2 grade level

doors

Column Spacing: Varies; 33’ x 25’ most consistent

Fire Sprinkler: Wet pipe system throughout interior

rated at 2,000 gpm; dry system on exte-

rior docks

Rail Service: Burlington Northern Inc. rail spurs

Gas Service: Available to both buildings

Power Supply: Ranges from 1,000 to 6,000 KVA, 23 KV

primary in most zones, with 480/3-ph

secondary

HVAC: Roof top package units provide condi-

tioned air to office, giftwrap, and printing

areas. Warehouse space is not condi-

tioned.

Improvements: The following improvements were com-

pleted in 2005 & 2011:

HVAC Upgrades: $566,000

Roof Improvements: In excess of $1M

Restrooms/Misc.: $120,000

Parking Lot: $110,000 (9/11)

* Perimeter fencing and access gates surround both buildings

* Emergency egress lighting throughout

WAREHOUSE AT-A-GLANCE

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With its central location and excellent infrastruc-ture, Memphis is one of the most important lo-gistics centers in the United States. The Memphis industrial market contains five separate submar-kets as shown in the table on the following page. The dominant submarkets are the Southeast (loca-tion of 4025 & 4063 Viscount Ave), Southwest and DeSoto County, MS submarkets. These submarkets account for the vast majority of industrial space in the city and more importantly, the majority of ab-sorption, leasing and construction activity in recent years.

The total industrial inventory in the Memphis mar-ket area is 145,422,531 square feet in 1,135 build-ings as of the end of second quarter 2011. The warehouse sector comprises the vast majority of the Memphis market, consisting of 139,254,731 square feet in 961 buildings. The balance is comprised of the flex sector, which consists of 6,027,300 square feet in 270 buildings. Included in this, there are 189 owner occupied buildings ac-counting for 25,510,216 square feet of space.

Currently housing 78,190,212 square feet, the Southeast submarket makes up 54% of the entire metro Memphis market with average quoted rents ranging from $1.50 to $3.95 psf for properties containing at least 100,000 square feet. This reflects the wide variety of Class B and A product located throughout the Southeast submarket. The Southeast’s current overall vacancy rate of 15.3% is third lowest of the five submarkets in the Memphis area. This vacancy rate has averaged below 16% over the last four years due in part to steady absorption and the decline of new construction.

I I I . M A R K E T

SOUTHEAST INDUSTRIAL SUBMARKET

MEMPHIS INDUSTRIAL MARKET

240MemphisInternational Airport

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MEMPHIS INDUSTRIAL - MID YEAR - 2011

METROPOLITAN MEMPHIS

Viscount Warehouse

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I V. L O C AT I O N

Memphis is one of the foremost global logistics centers in the United States because of its strategic location near

the population center of the country. The city is home to one of the world’s key shipping and logistics airports,

vast interstate and railway systems, and one of the most critical navigable waterways in the US, the Mississippi

River.

Located at the southwestern tip of the state of Tennessee, Memphis is the region’s primary economic focal point

and the state’s largest city with a population of 1.3 million. Memphis serves as a critical manufacturing and distri-

bution hub for products bound for each region of the country and beyond. Highlights of Memphis include:

• Home to FedEx World Air and World Ground Hubs. Founded in Memphis

in 1973, currently employing over 32,000 local professionals, FedEx’s ongo-

ing $2B national expansion continues to substantiate its Memphis facilities.

• A major inland port highlighted by its connectivity to large international

and national markets.

• Memphis International Airport (two miles west of 4025 & 4063 Viscount)

has reported the second largest worldwide cargo volume for 2010 and

was previously the world’s largest cargo airport for the last 17 years.

• At the crossroads of four critical national Interstates (I-40, I-55, the pro-

posed I-22, and the future I-69), Memphis anchors one of the busiest

trucking corridors in the US.

• Memphis boasts 5 of the US’s top six long-haul Class 1 rail systems, BNSF,

CSX, Norfolk Southern, Canadian National, and Union Pacific, which touch

$550 Billion of domestic and international freight annually.

• The BNSF Intermodal facility, less than two miles southeast of 4025 & 4063

Viscount, recently completed a $200 Million expansion.

• Host to an enormous inventory of international companies with large

national distribution centers including Nike, Williams Sonoma, Johnson &

Johnson Health Care Services, Technicolor, Nissan Parts, Kroger, Kraft, and

Pfizer.

• With a highly-skilled and specialized workforce, Memphis leads the nation’s

top 100 cities with the highest workforce percentage involved in logistics,

transportation, warehousing, and utilities.

MEMPHIS OVERVIEW

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SOUTHEAST OVERVIEW

The Viscount warehouses are located in Memphis’ Southeast industrial submarket, the dominant industrial sec-

tor in the city. Anchored by the Memphis International Airport, it holds the city’s largest concentration of both

value-oriented Class B properties and newer Class A properties. The Southeast submarket’s location highlights

include:

• Immediate access to Memphis International Airport

• Excellent access for both trucks and passenger vehicles via multiple interchanges at I-240, I-40, and I-55,

Memphis’s primary interstates

• Numerous major surface arteries including State Highways 72 and 78

• Rail service provided by Burlington Northern, Inc., including a spur serving the Property

• Dominated by the Memphis Airport Industrial Park, a restricted subdivision with excellent infrastruc-

ture and appealing developments

• Continued influx of new and expanding tenants in the past year including Williams-Sonoma, Exel Logis-

tics, QPSI and Scansource Inc,

Viscount Warehouse

240

Global SuperHub

Intermodal

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David B. Curran Jr., CCIMDirect: 901.273.2358Cell: [email protected]

FOR MORE INFORMATION:

www.commadv.com

No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,

change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions imposed by our principals.

Cushman & Wakefield/Commerical Advisors • 5101 Wheelis Drive , Suite 300, Memphis, TN 38117 • 901.366.6070