3214 Old Springfield RdVandalia, OH 45377

For Sale
Call for price

97,600 SF hangar, 15-year lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fee-simple ownership of a Class A, 97,600-square-foot industrial facility in Vandalia, Ohio. The property, built in 2023, is a single-tenant, triple-net (NNN) leased hangar within the Sierra Nevada Aviation Innovation and Technology Center on the Dayton International Airport campus. The 15-year lease, commencing December 1, 2022, and expiring November 30, 2037, features a corporate guarantee and includes four, three-year lease options. Annual rent increases of 1.9% are built into the lease, providing a hedge against inflation. The property boasts a 90-foot ceiling height and sits on a substantial 694,434-square-foot lot. The tenant, a significant player in the aviation industry, has made a substantial commitment to the Dayton area, with further expansion already underway on the campus. The location benefits from proximity to Wright-Patterson Air Force Base and a skilled workforce. The property is subject to a ground lease with the City of Dayton, extending until December 29, 2070, providing long-term stability. This is a highly passive investment with a strong tenant and significant upside potential due to the built-in annual rent escalations and long-term lease. The 100% occupancy since December 1, 2022, further underscores the strength of this investment. This is a rare opportunity to acquire a high-quality, net-leased industrial asset with exceptional long-term growth prospects.

Highlights

  • Significant tenant investment exceeding $200 million in a new Aviation Innovation and Technology Center (AITC) at Dayton International Airport, including four hangars totaling over 341,000 square feet.
  • Triple-net (NNN) lease structure with tenant-funded capital improvements, minimizing landlord expenses and management responsibilities.
  • Annual rent increases of 1.9% provide inflation protection and continue throughout option periods.
  • Strategic Dayton location selected after a national search, benefiting from proximity to Wright-Patterson Air Force Base, strong logistics infrastructure, skilled workforce, and established supply chain.

Property Details for 3214 Old Springfield Rd

Property type
Other warehouses, Life science properties
Square Feet
97,600 SF
Class
A
Year Built
2023
Buildings
1

Location Insight

City
Vandalia
County
Montgomery
State
Ohio
Latitude
39.9114391
Longitude
-84.2288544
3214 Old Springfield Rd, Vandalia, Ohio

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3214 Old Springfield Rd
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