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200 Westinghouse Cir
Horseheads, NY 14845

Industrial Property For Sale

PROPERTY FACTS

Property Type Industrial
Property Subtype
Manufacturing
  • Flex Light Manufacturing
  • Industrial Distribution
  • Industrial Warehouse
Building Class B
Lot Size 59.12 AC
Rentable Building Area 860,000 SF
No. Stories 1
Year Built/Renovated 1952/1997
Parking Ratio 2.09/1,000 SF
Clear Ceiling Height 25’
No. Dock-High Doors/Loading 5
No. Drive In / Grade-Level Doors 5

AMENITIES

  • 24 Hour Access
  • Bus Line
  • Fenced Lot
  • Property Manager on Site

UTILITIES

  • Lighting - Metal Halide
  • Gas - Natural
  • Water - City
  • Sewer - County
  • Heating - Gas

ABOUT 200 WESTINGHOUSE CIR , HORSEHEADS, NY 14845

EXP Realty Advisors exclusively presents for sale a 860,000 square-foot logistics and manufacturing facility located at the cross roads of the southern tier of New York. Located on 58.94 acres of land situated along exit 52 of Interstate 86 the site offers unparalleled access as well as two new development sites. The building is currently rented to three majors tenants, all operating on net leases. Southern Tier Logistics, uses the space to operate their logistics/distribution business. Eaton Co, which is investment grade (A-), has occupied the original building for many years and manufactures vacuum circuit breakers and is heavily invested in their space. Crown Tank manufactures steel tanks for the oil and gas industry as well as truck bed assembles used for truck mounted vacuum tanks, garbage truck assemblies, municipal paving, hauling and dump assemblies for state highway departments. This is a special property occupying a strategic location at the crossroads of the Southern Tier of New York. It has had excellent historical occupancy and is a best-of-class building in a market with little competition. The vacancy factor for a building of this class which is categorized as B, is approximately 3% when you factor in class A&B buildings within the Elmira-Corning Market. This property recently attracted FedEx which explored this site for a build-to-suit for FedEx Ground on 7 acres of excess land but it was 2 acres short so they located nearby. On a 1.5 acre development site on Corning Road the State Police were interested in building a facility. CVS built a 751,000 sf distribution center nearby. This demonstrates the strategic logistical location this area offers. One advantage is the nearby highway system (I-86, I-390, I-99, I-81, I-88) is free of tolls so distribution is less expensive. I-87, a major north-south route between Montreal and New York, is an expensive toll road for trucks to use. This location offers cost saving distribution to Buffalo, Rochester, Syracuse, Ithaca, Binghamton as well as Scranton, Wilkes-Barre and Harrisburg PA. Baltimore and Philadelphia can be reached in 4 hours and New York City in five hours. Additional upside is Building B which is a 9,600 square foot freestanding building which is currently vacant. It has one on grade overhead door on the west side and a truck high overhead door on the east side. Ceiling Heights are approximately 15 ft clear. The two potential development sites (7 acres and 1.5 acres) are attractive because this site offers superior highway access throughout the region. The property has extremely high available electrical power and high volume water both from two separate sources. A former tenant used one million gallons of water per day. Eaton uses the majority of the power for their manufacturing process and is separately metered. The property is unique in the market because it has more available electricity and water supply than any other building. 500,000 square ft of the old roof was torn off, including insulation panels, and replaced in 2013. That section of the property carries a 15-year roof warranty. In 2017 and additional 300,000 sf of roof, including insulation, was torn off and replaced with a new TPO roof. This section covers mostly Eaton.  It also comes with a 15 year warranty. The roofing cost was approximately $2.1 million combined. There is a section of the roof over the second floor offices which has not been replaced and another section over Crown Tank southernly space combined totaling approximately 60,000 sf. These sections of roof are receiving regular repair and maintenance from on site manager. The building was painted in 2013 and looks great.

PROPERTY TAXES

ZONING

Zoning Code VH08
  • Listing ID: 13415721

  • Date on Market: 8/7/2018

  • Last Updated:

  • Address: 200 Westinghouse Cir, Horseheads, NY 14845