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|Call for Offers||2022-04-21|
JLL, as exclusive advisor, is pleased to offer for sale the Iron Mountain Chimney Rock Sale-Leaseback (“the Property”), a 31,159 square foot industrial facility owned and operated by Iron Mountain (“IRM”) for the last 20+ years with 5.5 years of lease term remaining. Due to long-term business planning and consolidation opportunities within the Houston market, Iron Mountain will exit the Property by December 2027 and execute an absolute triple-net lease with 2.50% annual rent escalations until that date. This short term sale-leaseback opportunity offers investors durable cash flow and significant returns through asset repositioning.
· Strategic Infill Location In Dense Population Center
· Unmatched Accessibility
· Functional Real Estate With Significant Tenant Tenure
· Industry-Leading & Recession Proof Tenancy
· Investment In One Of The Country's Hottest Industrial Markets
· Houston: Nation Leading Growth