THE DEAL
- Invest $50k to $500k
- Annual Cash Return: ...% est.
- Sell anytime or hold for a 5-year return projected at ...%
WELCOME TO THE
TECHNOLOGY HUB
Located at iPark 84
HI-TECH – THE “FAB” FOUR
The “fab four” support warehouses are the subject of a 10-year leaseback by GlobalFoundries. iPark 84 is a repositioned former IBM semiconductor manufacturing R&D facility. The 3 million sq ft fab is now home to GlobalFoundries, an international semiconductor manufacturer. iPark 84 reuses the $1B plus of infrastructure, including a highway network, electric, gas, water and sewer, put in place for IBM. Originally 20,000 employees worked at this 460-acre site, which iPark has rehabbed to accommodate the specialty food manufacturing sector and the growing distribution demand for high cube fulfillment warehouses following Amazon’s relocation to the neighborhood.
LOCATED directly off of I-84 Exit 50, within 30 minutes of major highways and airports, including I-87, I-684 and Stewart International Airport. This location, only 60 miles from the George Washing Bridge, is ideal for tenants in all areas of manufacture.
FINANCIAL SNAPSHOT
- Crowd Funding: $14m
- Sponsor Investment: $14m
- NOI: $3.2m
- Interest Payments: $680k p.a.
- Net Cash Flow: $2.5m
- Current Value: $28m
- Cash Yield: ...%
- Projected Value (Yr 5): $...m
- Projected ROE (5-Yr Hold): ...%
- Current Loan Balance: $15m
- Interest Rate: 4.5%
THE DETAILS
- Type: Warehouse
- Age: 10 Years
- Square Feet: 250,000
- Occupancy: 100% Leased
