3 Building Portfolio Vacant
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3 Building Portfolio Vacant
3 Industrial Properties Offered at $10,038,000 in Newton, KS
Investment Highlights
- Brand New Sprinkler System, Fiber Optic Lines, High Speed Doors, Roof, New Cabinets/Tables in Office Portion, Three New Face Panels, & 16 New Docks.
- Convenient location near US-50.
- Added $2M Worth of New Air Handlers & $750K on High Security Fence Surrounding the Facility.
Executive Summary
Fortis Net Lease is pleased to present the sale of three vacant industrial buildings located in Newton, Kansas. The three buildings consist of a total of 286,800 SF and are situated on a 30.1-acre site. The building located at 900 S Meridian Rd consists of 77,200 SF, the building located at 831 S Columbus Ave consists of 95,200 SF, and the building located at 810 S Columbus Ave consists of 76,000 SF. The property is conveniently located on Meridian Road and Columbus Avenue which is only 2.8 miles from US-50. These buildings are located 27.6 miles North of Wichita, Kansas.
MasterBrand Cabinets (Norcraft Companies) is the previous owner/operator of this property. When the housing market was booming a few years ago, they were making 180,000 cabinets a week for Lowes alone. As interest rates went up, the demand for cabinets plummeted, and they decided to move their operations to Washington. Before they left, they added a ton of renovations to the facility. They added about 9 million dollars into the property overall, with a brand-new sprinkler system, new fiber optic lines, new high-speed doors, a new roof, as well as 16 new docks that are completely brand new and haven’t been used yet. Along with this, they added 2 million dollars’ worth of new air handlers and spent 750,000 dollars on a high-security fence surrounding the facility. Additionally, they completely reskinned the inside of one of the smaller buildings on the property, and in two out of the three buildings, they added 3 new face panels. Furthermore, this plant allows rail access, and the property owns a quarter-mile worth of rail spur (BNSF Railway runs on this). Only about 5% of the buildings are office space, but those spaces are filled with new cabinets & tables. They just recently power-washed the entire interior of all of the buildings, and the property has a nearly infinite amount of power, water, and air.
INVESTMENT HIGHLIGHTS
900 S Meridian Rd Building | 77,200 SF
831 S Columbus Ave Building | 95,200 SF
810 S Columbus Ave Building | 76,000 SF
MasterBrand Cabinets (Norcraft Companies) is the previous owner/operator of this property. When the housing market was booming a few years ago, they were making 180,000 cabinets a week for Lowes alone. As interest rates went up, the demand for cabinets plummeted, and they decided to move their operations to Washington. Before they left, they added a ton of renovations to the facility. They added about 9 million dollars into the property overall, with a brand-new sprinkler system, new fiber optic lines, new high-speed doors, a new roof, as well as 16 new docks that are completely brand new and haven’t been used yet. Along with this, they added 2 million dollars’ worth of new air handlers and spent 750,000 dollars on a high-security fence surrounding the facility. Additionally, they completely reskinned the inside of one of the smaller buildings on the property, and in two out of the three buildings, they added 3 new face panels. Furthermore, this plant allows rail access, and the property owns a quarter-mile worth of rail spur (BNSF Railway runs on this). Only about 5% of the buildings are office space, but those spaces are filled with new cabinets & tables. They just recently power-washed the entire interior of all of the buildings, and the property has a nearly infinite amount of power, water, and air.
INVESTMENT HIGHLIGHTS
900 S Meridian Rd Building | 77,200 SF
831 S Columbus Ave Building | 95,200 SF
810 S Columbus Ave Building | 76,000 SF
Property Facts
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Building 1 - 900 S Meridian
900 S Meridian Rd, Newton, KS 67114 |
Industrial | 83,450 SF | 1950 | - |
|
Building 3 - 810 S Columbus
810 S Columbus Ave, Newton, KS 67114 |
Industrial | 90,924 SF | 1972 | - |
|
Building 2 - 831 S Columbus
831 S Columbus Ave, Newton, KS 67114 |
Industrial | 105,666 SF | 1950 | - |
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3 Building Portfolio Vacant
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