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Jones Lang LaSalle (“JLL”), is pleased to offer for sale the RPM/Carboline Distribution Center (“Property”), a build-to-suit industrial facility in Lake Charles, LA. The Property totals 100,035 SF and is 100% leased to Carboline, a wholly owned subsidiary of RPM International (S&P: BBB- / Moody's: Baa3). RPM (NYSE: RPM) is a global company that specializes in manufacturing coatings, sealants, building materials, and related services. Carboline is the #1 distributor of corrosion control and fireproofing coatings in the U.S. The Property has proximity to I-10 and is ideally situated two miles from a Carboline
This offering represents an opportunity for investors to purchase a built-to-suit distribution center, featuring 10 dock doors and a 28-foot clear height, that is leased on a long-term basis to a creditworthy and global tenant. The Property exhibits exceptional locational attributes and is situated on the Port of Lake Charles, the 11th busiest port district in the U.S.
- Long-term net lease with 17-years remaining and limited landlord responsibility
- Attractive average annual rent escalations of 2.35%
- Cash flow secured by industry-leading and credit-worthy tenancy of Carboline
- Carboline is the #1 distributor of corrosion control and fireproof coatings in the U.S.
- Carboline is a subsidiary of leading industrial manufacturer RPM International
- Built-to-suit in 2013, proximity to one of Carboline’s key manufacturing facilities
- Resilient local and regional economy, #3 Forbes Best Small City for job growth
- Situated near the 11th busiest port in the U.S.