Forum Energy Technologies, Inc. 1102 Industrial Park Rd
138,000 SF Industrial Building Clearfield, PA 16830 £5,977,591 (£43.32/SF) 8% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Forum Energy Technologies (NYSE: FET) is a global oilfield products company, serving various sectors of the oil and gas industry.
- The Property sits on an expansive 20.0-acre site, providing long-term upside and future expansion opportunities for the Landlord.
- FET is strategically located in Pennsylvania, the 2nd-largest natural gas-producing state and the 2nd-largest net supplier of energy to other states.
- The 15-year absolute NNN lease will commence upon closing and feature 2.5% annual rent escalations with (2) 10-yr options.
- FET has occupied the Property since 2011 and it has become a key production facility to support the company’s demand for customized equipment.
- Pennsylvania’s natural gas and oil supports more than 423,000 jobs and contributes more than $75 billion to the state economy.
EXECUTIVE SUMMARY
Forum Energy Technologies (NYSE: FET) | 15-Yr NNN Sale-Leaseback | 8.00% Cap | Priced Below Replacement Cost
PROPERTY FACTS
| Price | £5,977,591 |
| Price Per SF | £43.32 |
| Sale Type | Investment NNN |
| Net Initial Yield | 8% |
| Sale Condition | Sale & Leaseback |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 20.00 AC |
| Rentable Building Area | 138,000 SF |
| Number of Floors | 1 |
| Year Built | 1989 |
| Tenancy | Single |
| Parking Ratio | 0.7/1,000 SF |
| Level Access Doors | 18 |
AMENITIES
- Fenced Lot
- Signage
1 of 1
PROPERTY TAXES
| Parcel Number | 1230L0700000094 | Improvements Assessment | £270,934 |
| Land Assessment | £19,860 | Total Assessment | £290,794 |
