HAJOCA (Gorman) – Kissimmee, FL

Hajoca (Gorman)
800 Armstrong Boulevard, Kissimmee, FL, USA

Sands Investment Group is pleased to exclusively offer for sale the 16,000 SF Hajoca Industrial Triple Net Asset located in Kissimmee, FL (Orlando MSA). This facility was just expanded for the tenant to accommodate the high demand for their product in the market and support future sales growth. This is a rare opportunity to acquire a well-located industrial asset on a long-term lease with strong 3.25% annual increases backed by an industry leading tenant.

  • Strong Corporate Tenant: Lease includes a corporate guarantee from the Hajoca Corporation, the parent company of Gorman. Hajoca is one of the largest wholesale distributors of plumbing, heating, pool, and industrial supplies in the US. Founded in 1858, Hajoca has grown to encompass over 450 locations across more than 40 states.
  • Healthy Rent: This newly constructed warehouse is leased at a highly competitive $17.48 per SF — well below market averages — especially considering the added value of its outdoor storage component.
  • Strong Increases and Passive Lease Structure: Lease offers limited landlord responsibilities and includes 3.25% annual increases as well as fair market rent clauses at the renewal options to help hedge against inflation.
  • Recent Expansion: Hajoca’s footprint has doubled at this location to help meet current demand and support future sales growth out of this facility.
  • Large Service Radius: Being the only Hajoca branch in the Southern portion of the Orlando MSA, this branch has a large service radius and is a highly profitable branch for Hajoca.
  • Strategically Located: Facility is strategically positioned near the Kissimmee Gateway Airport and is easily accessible to both U.S. Route 192 and U.S. 17, making it an ideal location for warehouse and distribution operations.
  • Desirable IOS Asset Class: The excess yard space at this location allows for significant industrial outdoor storage (IOS), which is one of the most soughtafter asset classes in today’s market.
  • Strong Submarket: Kissimmee is located just 30 minutes from Orlando and has seen strong population growth with a 61.6% increase since 2000 and a population density of 2,816 people per square mile. The nearby Walt Disney World Resort has and continues to play a significant role in the city’s economic growth.

 

In Cooperation With SIG RE Services, LLC-Lic. #CQ1055229 BoR: Andrew Ackerman Lic. FL #BK3369953

Hajoca (Gorman)
800 Armstrong Boulevard, Kissimmee, FL, USA

HAJOCA

Hajoca is the largest privately held wholesale distributor of plumbing, heating, and industrial supplies in the United States, founded in 1858 and operating under more than 60 different trade names to serve local communities nationwide. With a history rooted in providing access to clean water and indoor plumbing, the company focuses on building lasting relationships, operating with core values of fairness, integrity, and respect, and maintaining a decentralized business model where each location operates as an independent profit center.

Price

$4,864,755

Cap Rate

5.75%

PREMISES

16,000 SF

RENEWAL OPTIONS

2 x 5 Year Options At Fair Market Rent

Lease Expiration

06/30/2035

Lease Type

NNN

RENTAL INCREASES

3.25% Annually

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