291,695 SF Single tTenant industrial Investment (Lexington, KY MSA)

2008 Cypress Street Paris, KY 40361

2008 Cypress Street, Paris, KY, 40361
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FOR SALE
Property Type:
Factory
Amount:
$6,950,000
Last Verified:
Nov 22, 2024

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Highlights

  • 291,695 SF Single Tenant Industrial Investment Opportunity
  • Low basis at 23.83/sf
  • Below Market Rents
  • Historical Occupancy dating back to 2007
  • Recent Consolidation from California operations
  • Expressed interest to take more space in the facility

Description

SVN Stone Commercial Real Estate is pleased to bring to market this single-tenant industrial investment opportunity in the Lexington, KY MSA.

2008 Cypress Street is a 291,695 SF facility situated on approximately 21.31 acres in the Lexington, KY submarket of Paris, KY. This heavy manufacturing facility was originally constructed in 1966 and most recently renovated in 2024. The property has been occupied by Western Pacific Storage Solutions (WPSS) since 2007. WPSS specializes in manufacturing industrial racking solutions and other related products that help companies worldwide streamline operations and achieve cost savings. Over the past year, WPSS consolidated all its manufacturing operations at this location, making it a mission-critical facility.

As a further commitment to this space, WPSS executed a 10-year modified net lease agreement that incorporates an expansion within the facility. WPSS now occupies 275,165 SF of the building and 17.82 acres of the parcel, with plans to expand further in the future. The initial lease term began on August 1, 2022, and extends through July 31, 2032. The property includes approximately 7% office space, with the remaining 93% dedicated to manufacturing and warehouse operations.

The manufacturing portion of the facility is equipped with key features essential to WPSS’s operations, including 3High-efficiency lighting, Wet sprinkler system, Reinforced concrete slab, Seven dock-height doors, One drive-in door, Heavy power capabilities, Clear heights ranging from 14’ to 20’

Located in the heart of Paris, KY, this property offers convenient access to major highways and transportation routes. Its proximity to local amenities, including restaurants, shopping centers, and hotels, makes it an attractive location for employees and staff.


For further financial or lease information, or to schedule a tour of the facility, please contact: John Bunch, SIOR at john.bunch@svn.com // 859.433.8911.

Paris is a city located in Bourbon County, Kentucky, in the United States. It is situated in the north-central part of the state, about 18 miles northeast of Lexington. Paris has a total area of 5.5 square miles, with a population of approximately 8,500 people.

The city of Paris is situated in the heart of the Bluegrass region of Kentucky, known for its rolling hills, scenic landscapes, and horse farms. It is surrounded by fertile farmland, and the area is known for its production of tobacco, corn, and soybeans.

Paris is located along the banks of Stoner Creek, and it is home to a historic downtown district, with many well-preserved 19th-century buildings


Year Built: 1966
Building Size: 291695sq ft
Lot Size: 21.31 acres


Documents

Brochure - 2008 Cypress Street, Paris
Plat and Survey - 2008 Cypress Street
Floor Plan - 2008 Cypress Street
Aerial - 2008 Cypress Street

Map of 2008 Cypress Street, Paris, KY, 40361

Presented by:
SVN | Stone Commercial Real Estate Advisors

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John Bunch


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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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