Net Leased Freezer/Cooler Building-National Tenant
1571 Gressel Drive
Delphos, OH 45833
Highlights
- Rare NNN Freezer/Cooler Investment Property
- Guaranteed by Strong National Tenant
- Allen County is a National Recognized Economic Area
- Eight Years Remaining, Two 5 Yr Renewal Options
- 3% Annual Rent Escalations
Description
The subject is a net lease freezer/cooler industrial building leased to HydroFresh HPP Ltd . The lease is guaranteed by Universal Pure, the largest independent provider of high pressure processing (“HPP”) and cold chain solutions for food & beverage customers in North America. Universal acquired the HydroFresh HPP in 2022.
There are eight years remaining on the original ten year lease, with 3% annual rent escalations. There are also two five year options to renew.
The ten year lease commenced on 6/1/2022. It is an absolute net lease with 3% annual escalations.
Delphos is located on US 30 between Lima and Van Wert in Northwest Ohio, and is part of both Van Wert and Allen counties. Lima/Allen County was just recognized as the #3 metro under 200,000 population for economic development in the country, as determined by Site Selection magazine.
The subject is located in an industrial area along US 30. This area includes multiple buildings for Lakeview Farms, a leading food manufacturer of dips, desserts and specialty products nationally. A new $3-35 million expansion is planned for the Lakeview campus. The area also includes Vanamatic, a global supplier of precision made products, and Rode's Meats, a new $6 million meat processing facility. It is also adjacent to Wannemacher Commercial Park and a new Love's travel center.
