J. Rayl Transport 20-Year Absolute NNN Headquarters Facility Sale-Leaseback in Akron, Ohio
17-Year Operating History at Site – Truck Terminal as Well as the Corporate Headquarters Facility for J. Rayl Since 2008
Tenant Invested Over $3 Million into Complete Gut Renovation of Approx. 20,000 SF RBA of HQ Office Buildings in 2020/2021
All Major Infrastructure & CapEx Items Replaced Including New Roof, Windows, HVAC, Parking Lot, Plumbing, Electrical, and Other Building Mechanical Systems
Over 70 Office Employees Work On-Site Daily as the Main Operational HQ for all of J. Rayl’s Terminals Located Outside of Ohio; Over 200 Truck Drivers Report to the Facility as Well
HQ Facility along with Satellite Facility in nearby Richfield, OH House Apprenticeship Program which has Trained Over 300 Employee-Drivers and 50 Owner-Operators Since Established in 2021; Approx. One-Third of Current Driver-Employees Have Been Hired thru the Apprenticeship Program
J. Rayl was Established Locally in Akron in 1987 and has Continuously Maintained Headquarters Operations in Akron Since; Largest Truckload Carrier in NE Ohio
Transportation & Logistics Company with 350 Employees, 350 Trucks, 1,600 Trailers, and 4 Operational Terminals
Offering Includes 12 Acres Across 4 Parcels with Three Buildings Totaling 29,800 SF RBA
Building 1 – 5,670 SF Heated & Cooled 1-Story Office Building Housing Accounting, IT & Driver Lounge; Has Full Basement
Building 2 – 13,980 SF 1-Story Industrial Space Retrofit to Office Housing Executive Offices, Operations, Safety, HR & Brokerage Employees, Conference & Driver Training Rooms; Attached to Building 1/Office
Building 3 – 10,150 SF Heated Mechanic Shop with Drive-in Doors & Several Drive-Thru Bays
Site has Capacity for Storage Over 200 Trailers and Over 100 Tractors; On-Site Diesel Fueling Station
10% Rent Increases Every 5 Years Provides NOI Growth Over Term & Inflation Hedge
Absolute NNN Lease Structure – Zero Landlord Responsibilities
Corporate Guaranty Backed by Company with 38-Year Operating History, Substantial Assets, and Sizeable Annual Revenue
Long 20-Year Initial Lease Term & Six, Five-Year Options Thereafter with Continued Rent Increases
Strong IOS Investment Opportunity – Long Lease Term, Abs NNN, Dense Infill Location with Highway Proximity, Headquarters Facility, Corporate Guaranty, Strong Local Workforce, Substantial Site Improvements
Strategic Location within Immediate Proximity to J. Rayl’s Top 30+ Year Customers; Majority of Customers are Large, Public Companies
1.3 Miles from I-277 / Route 224 Exit Ramps at Kelly Ave and 0.7-Mile from I-77 Exit Ramps at E Wilbeth Rd
Within a 5-Minute Drive from Three Major Interstates – I-77, I-76, and I-277
Akron is the “Rubber Capital of the World” – Well Established Global Research & Manufacturing Leader in Polymers & Advanced Materials
Akron MSA – Home to a Population of 700,000; Part of the Larger Cleveland-Akron-Canton CSA with a Population of Over 3.7 Million