JLL, as exclusive advisor, is pleased to offer for sale the Iron Mountain Lake Erie Sale-Leaseback Portfolio (“Portfolio” or “Properties”). Centrally located near major infrastructure and surrounded by an average population of 315,000 in a 5-mile radius, the Portfolio consists of four industrial assets totaling 194,715 square feet. Having occupied each building for over 20-years, Iron Mountain Information Management, LLC (“IRM” or “Tenant”) views each market and building as an integral part of its long-term business plan.
At closing, IRM will execute 10-year absolute triple net leases inclusive of attractive 2.50% annual escalations. This offering provides qualified investors a completely passive investment alongside a secure and stable growing income stream.
Investors are afforded the opportunity to bid the entire portfolio, or if desired, bid on individual properties. This offering presents investors attractive, smaller format industrial assets secured by a long-term lease to an internationally recognized tenant.
- 10-year absolute triple-net leases with 2.50% annual bumps and no landlord responsibilities
- Top Midwestern industrial markets with strong historical rent growth and ultra low vacancies
- Highly connected properties possessing the most-in demand industrial attributes
- Cash flow secured by long-standing and industry leading tenant with strong credit (TTM Revenue of $4.2 billion)
- Committed tenancy averaging 22-years of occupancy across the Properties