1716 Toledo Cir

• Strong Credit Tenant – Since 1916, Modine Manufacturing Company (NYSE: MOD) has been a global leader in thermal management for over 100 years. Modine designs, engineers, tests, and manufactures heat transfer products for a wide range of applications and markets. In 2024, Modine reported over 11,000 Employees, $2.4 Billion of Annual Revenue, and Adjusted EBITDA of $314.3 Million (48% Increase from 2023).
• Functional Industrial – This 62,112 sq. ft. manufacturing/distribution facility is situated on 7.29 acres of land (19% Building/Lot Coverage) and features heavy power, multiple cranes, 1 dock high door, 26 grade level doors and excess land for ample outdoor truck parking, storage, and building expansion potential.
• Passive Lease/Recent Improvements/Below Market Rent – Modine is operating under a passive Industrial NNN Lease featuring 2.50% Annual Rent Increases as well as a rare 3% monthly Management Fee reimbursement. In 2019, the property underwent almost $1 Million of improvements including brand new electrical, plumbing, and HVAC. In 2024, new roof membranes were installed featuring a 10-year warranty. In 2025, Modine is scheduled to complete their own costly renovation, proving their commitment to this location. Furthermore, the current rent is considered below market at $5.20/SF as CoStar projects market rent at +/- $6.49/SF. The lease features 2, 5-year Options to renew at 95% of Fair Market Value allowing potential upside in the future.
• Strategic Texas Location/Income Tax Free State – Modine is strategically located in Longview, TX adjacent to the I-20, which is the main central Texas east-west highway connecting cities such as Tyler and Longview through Dallas Forth Worth. The I-20 is an essential highway for logistics and transportation as it continues to connect Dallas Forth Worth to El Paso (West) and into Shreveport, LA; Jackson, MS and Birmingham, AL (East). Longview is also within a reasonable distance to the Port of Houston, giving manufacturers efficient routes for both national and international shipping. Longview benefits from Texas's business-friendly environment, including no state income tax, which reduces operational costs for manufacturers and the city offers incentives, tax breaks and grants combined with reliable infrastructure supporting smooth and efficient manufacturing operations.