109 Spring Hill Dr Industriel/Logistique 1 219 m² 100 % Loué À vendre Grass Valley, CA 95945 1 379 498 € (1 131,77 €/m²) Taux de capitalisation 6,06 %

Coldwell Banker Commercial G.R., as exclusive advisor, is pleased to present the opportunity to acquire 109 Spring Hill Drive, a fully leased, two-building industrial asset totaling approximately 13,000 square feet in Grass Valley, California. The property is leased to Federal Express Corporation (FedEx), an investment-grade public company (S&P: BBB), and Consolidated Electrical Distributors, Inc. (CED), a nationally scaled private operator with a multi-billion-dollar revenue base. Both tenants have continuously occupied the property since its original construction in 1990 as a build-to-suit. The property is being offered at 6.06% in-place cap rate which translates to an extremely attractive acquisition cost basis of $121/SF. The weighted average rental rate across the property is $0.78/SF on a modified gross basis—approximately 25% below current market rents of $1.05/SF MG—offering investors immediate cash flow with meaningful mark-to- market upside upon tenant roll.

The asset offers a weighted average lease term (WALT) of approximately five years, delivering stable in-place income with a clear path to increased net operating income through mark-to-market rent adjustments upon lease expiration. FedEx occupies 8,000 SF (62% of the rentable area) under a double-net (NN) lease, which extends through December 31, 2029, and includes one additional five-year option. CED recently exercised its final five-year renewal, extending tenancy through June 2030.

Situated on a 0.93-acre parcel, the project consists of two metal-on-metal industrial buildings with grade-level loading—an +/-8,100-square-foot facility for FedEx and an +/-5,000-square-foot building with fenced yard space for CED. The asset is zoned M-1 (Light Industrial) within the City of Grass Valley, supporting a broad range of warehousing and distribution uses. The property has been meticulously maintained, with recent improvements including new metal siding and interior renovations completed for FedEx upon their most recent 10-year renewal.

Strategically positioned in Grass Valley, California, the property offers exceptional connectivity via Highway 49, less than one hour from Sacramento and approximately two hours from the San Francisco Bay Area, providing efficient access to major distribution corridors and regional population centers. Grass Valley serves as the economic and logistical hub of western Nevada County, drawing from a regional trade area of approximately 85,000 residents. The city supports a diverse economy anchored by advanced manufacturing, distribution, healthcare, construction trades, and growing technology and professional services sectors, and benefits from a strong labor pool and business-friendly local government.

The offering presents a rare opportunity to acquire a 100% leased, credit-anchored industrial asset at a highly attractive cost basi, long-term, stable tenancy, strong downside protection basis via significantly below-market rents, an ideal location, and a highly visible path to NOI growth through future lease-up or renewal at market rates.

INVESTMENT HIGHLIGHTS

Investment Grade and National-Scale Long-Term Tenancies: FedEx, a global logistics leader with $87.7B in revenue and $4.33B in net income in FY 2024, occupies 62% of the rentable area. CED, one of the nation’s largest electrical distributors, generated $5.5B in 2024 revenue and employs approximately 7,500 people nationwide. Both Tenants have occupied the building since it was constructed approximately 35 years ago, demonstrating a deep commitment to the site.

Stable In-Place Income with Mark-to-Market Upside: The property offers a weighted average lease term (WALT) of +/-5 years, providing stable near-term cash flow with a clear opportunity to increase NOI through mark-to-market rent adjustments at expiration.

Below-Market Rental Rates: Current weighted average rent of $0.78/SF MG is approximately 25% below the market rate of $1.05/SF MG, positioning the asset for significant rental upside upon rollover.

Attractive Basis and Downside Protection: Priced at $121/SF, the offering is priced well below recent owner-user and investment sale comparables in the region.

Strategic Location Serving Regional Trade Area: Located just off Highway 49 in Grass Valley, the asset serves a regional trade population of +/-85,000 and offers direct access to Sacramento (under 1 hour) and the San Francisco Bay Area (+/-2 hours).

High-Quality Construction & Recent Capital Improvements: The two metal-on-metal buildings with grade-level loading were built-to-suit for the tenants and feature new siding and updated tenant improvements for FedEx as of their latest renewal.