United Rentals NN-Leased Industrial Investmen 1242 Nowell Dr

The Finem Group at Meybohm Commercial is pleased to exclusively present 1242 Nowell Drive, what will be a newly NN-leased industrial investment opportunity. This ±22,800 SF facility is set to be leased to United Rentals, a national leader in equipment rentals, under a secure 5-year double net (NN) lease beginning in the new year. The lease features a corporate guarantee, 3% annual rental increases, and two (2), five (5)-year renewal options, offering long-term stability and growth potential for investors.
In a highly competitive Augusta industrial market with limited inventory, this property provides a rare chance to secure a high-quality tenant with a strong financial track record. United Rentals, with over 1600 locations across the U.S., is a financially well-positioned tenant whose corporate guarantee ensures a secure income stream.
The property’s 1.6-acre fenced laydown yard is particularly well-suited to United Rentals' operational needs, enhancing tenant retention prospects. Additionally, the combination of enclosed and partially enclosed spaces allows for potential value-add opportunities by converting covered areas (3,290 SF) into fully enclosed warehouse space (rental rates of these spaces were reduced relative to the other areas), further increasing the property's appeal. Key features of the property include office space (with 8 private offices and 10 additional rooms), 3-phase power and 11 drive-in doors.
United Rentals Financial Performance (2019-2023): Over the past four years, United Rentals (URI) has demonstrated steady financial growth, driven by its strong position in the equipment rental industry. From 2019 to 2023, URI saw consistent revenue increases, with a notable jump in operating income. In 2023, United Rentals generated $13.2 billion in revenue, up from $11.6 billion in 2022, reflecting strong demand for construction and industrial equipment?.
Located at 1242 Nowell Drive in Augusta, GA, this industrial property offers exceptional logistical advantages. Positioned just off Gordon Highway, the site provides quick access to I-520 and I-20, facilitating efficient transit across the Augusta market.
The property is located 9.0 miles from I-20 Eastbound, providing direct access to Columbia, SC, and 11.3 miles from I-20 Westbound, connecting to Atlanta, making it an ideal location for regional distribution. Additionally, it sits 2.2 miles from I-520 (Bobby Jones Expressway), further enhancing connectivity within Augusta and offering direct routes to major interstate systems.
Strategically located within 150 miles of the Port of Charleston and Port of Savannah, two of the busiest ports in the Southeast, this proximity provides significant benefits for import/export operations. The easy highway access combined with proximity to major maritime hubs makes this property ideal for companies in logistics, distribution, and manufacturing, seeking to optimize supply chain efficiency and access national and international markets.