2008 Cypress St
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2008 Cypress St
291,695 SF Industrial Building Paris, KY 40361 $6,950,000 ($24/SF)
Investment Highlights
- 291,695 SF Single Tenant Industrial Investment Opportunity
- Below Market Rents
- Recent Consolidation from California operations
- Low basis at 23.83/sf
- Historical Occupancy dating back to 2007
- Expressed interest to take more space in the facility
Executive Summary
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.
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.
Property Facts
| Price | $6,950,000 | No. Stories | 2 |
| Price Per SF | $24 | Year Built | 1966 |
| Sale Type | Investment | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 1.03/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 20 FT |
| Building Class | B | No. Dock-High Doors/Loading | 7 |
| Lot Size | 20.56 AC | No. Drive In / Grade-Level Doors | 1 |
| Rentable Building Area | 291,695 SF |
| Price | $6,950,000 |
| Price Per SF | $24 |
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 20.56 AC |
| Rentable Building Area | 291,695 SF |
| No. Stories | 2 |
| Year Built | 1966 |
| Tenancy | Single |
| Parking Ratio | 1.03/1,000 SF |
| Clear Ceiling Height | 20 FT |
| No. Dock-High Doors/Loading | 7 |
| No. Drive In / Grade-Level Doors | 1 |
Amenities
- 24 Hour Access
- Air Conditioning
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
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PROPERTY TAXES
| Parcel Number | 026-00-00-041.00 | Improvements Assessment | $4,278,800 |
| Land Assessment | $696,200 | Total Assessment | $4,975,000 |
PROPERTY TAXES
Parcel Number
026-00-00-041.00
Land Assessment
$696,200
Improvements Assessment
$4,278,800
Total Assessment
$4,975,000
zoning
| Zoning Code | I-2 (Heavy Industrial) |
| I-2 (Heavy Industrial) |
-
Power Broker John Bunch -
SVN | Stone Commercial Real Estate
(859) 264-0888
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