Lockheed Martin – Davidsville, PA

Lockheed Martin
1120 Miller Picking Rd, Davidsville, PA 15928, USA

Sands Investment Group is pleased to exclusively offer for sale the 82,496 SF Lockheed Martin NNN Asset facility located at 1120 Miller Picking Road in Davidsville, PA. It has been there since 2021, producing essential components for mission-critical fighter equipment while benefiting from significant barriers to relocation due to specialized infrastructure and federal recertification requirements.

  • Deep-Rooted 39-Year History: Lockheed Martin has operated in the Johnstown area for nearly 4 decades.
  • Mission-Critical Aerospace Operations: This site is a dedicated production facility for mission-critical fighter equipment and other military aerospace components.
  • High Barrier to Relocation: Moving aerospace manufacturing is incredibly capital-intensive and requires multi-year federal government recertifications of the new site. This operational friction makes Lockheed highly likely to renew.
  • Expansion Footprint: The 19.84-acre parcel represents the only logical direction for any future physical expansion of this operation.
  • Recession-Resistant, Government-Backed Cash Flow: Income is backed by one of the world’s largest defense contractors, effectively tied to the longevity of the U.S. defense budget.
  • Zero Near-Term Capital Friction: There are no outstanding free rent periods, tenant improvement (TI) allowances, leasing commissions, or landlord concessions.
  • Tenant & Landlord Capital Commitment: Over the past 4 years, millions have been poured into the asset. Landlord work included a total gut-rehab of the interior, new HVAC systems, a complete wet sprinkler system, and a major electrical infrastructure upgrade (2,000A, 277/480V, 3-phase).
  • Lockheed-Specific Improvements: Lockheed Martin has personally funded and installed 2 massive heavy-industry paint systems, double-bay crane rails, and complete interior office renovations.
  • Building Systems & Roof: The roof consists of high-quality EPDM installed by the previous owner, which has been recently inspected with minor curb repairs performed. Most RTUs (roof top units) were installed brand new during the build-out, with Lockheed adding specialized units for their paint systems.
  • Built-In Rental Growth:  The lease features a 10% contractual rent increase on February 1, 2027, creating predictable income growth and increasing cash flow without requiring additional capital investment.

 

In Cooperation With Sands Investment Group Pennsylvania, LLC – Lic. PA #RB069072 – BoR: Tom Gorman – Lic. PA #RM424383

Lockheed Martin
1120 Miller Picking Rd, Davidsville, PA 15928, USA

Lockheed Martin

Lockheed Martin (NYSE: LMT) is one of the world’s largest aerospace, defense, and security companies, specializing in advanced technology systems for military and government customers. The company designs and manufactures aircraft, missile systems, space technologies, and mission-critical defense solutions. The Davidsville (Johnstown), Pennsylvania operation supports Lockheed Martin Aeronautics by manufacturing precision components and assemblies for programs including the F-16 Fighting Falcon, F-35 Lightning II, and C-130J Super Hercules aircraft. The facility continues to expand its manufacturing capabilities and skilled workforce to meet growing global demand.

Price

$9,995,000

Cap Rate

6.40%

PREMISES

82,496 SF

YEAR BUILT

1966

RENEWAL OPTIONS

2 x 5 Year Options

Lease Expiration

01/31/2032

Lease Type

NNN

RENTAL INCREASES

10% At Each Option

BROKERS

Lex Lagace
Fort Lauderdale
Solomon Colvin III
Atlanta

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