Houghton Mifflin Harcourt Distribution Facility
1900 S. Batavia Ave Geneva, IL 60134
Price: $16,800,000
Status: Sold
Cap Rate: CONF%
Year Built: 1958; Ren 1989
NOI: $
Lot Size: 25.00 acres
Price Per Foot: $32
Lease Type: NNN
Remaining Term: 5 Years
GLA: 513512 sqft
Property Intro
Lee & Associates is pleased to exclusively offer for sale, the fee simple interest (land & building) in an industrial warehouse/distribution facility located in Geneva, IL (the “Property”). Built in 1958 as a build to suit for the tenant, the Property consists of a 513,512-square-foot warehouse building that sits on three parcels totaling approximately 25 acres. The building is leased to Houghton Mifflin Harcourt, a leader in textbooks for grades K-12.
The Tenant has occupied 100 percent of the facility since September 2007. They have since executed two lease extensions, the most recent to extend their term another four (4) years through March 2026, and agreeing to 1.5% annual increases in rent. The combination of the newly executed lease extension and historical long-term tenancy of the tenant provides an investor with mitigated future vacancy risk and a high probability of future lease renewals.