TestAmerica

5815 Middlebrook Pike
Knoxville, TN 37921

Marketing Materials

Overview

JLL is pleased to offer for sale the fee-simple interest in an absolute NNN leased TestAmerica located in Knoxville, TN. The property is a freestanding industrial building that is tenanted by (Severn Trent Laboratories, Inc., a Delaware corporation, nka TestAmerica Laboratories, Inc., a Delaware corporation) d/b/a TestAmerica on an absolute NNN lease with over 9 years of contractual lease term remaining and 4% annual increases. The lease is guaranteed by TestAmerica Environmental Services, LLC who is recognized as the leading environmental testing firm in the United States, and has over 80 locations. The Property is strategically positioned along Middlebrook Pike, which sees outstanding daily traffic counts of over 33,000 vehicles daily. The Asset sits 1 mile north of Interstate 40, and is in close proximity to rail access. In the asset’s vicinity are a hundreds of industrial buildings and warehouses that contain close to 5 million square feet with national tenants like FedEx, USPS, Kinder Morgan, Marathon Petroleum, Citgo and many more.

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Investment Highlights
• The tenant has over 9 years of lease term and 4% rental increases every year
• The tenant is on an absolute NNN lease with no landlord responsibilities
• TestAmerica has over 80 location and is recognized as the leading environmental testing firm in the United States
• Well-positioned along Middlebrook Pike, which sees daily traffic counts of over 33,000 vehicles daily
• Over 150,000 residents within a 5 miles radius with an average income of $67,000
• Asset sits in a large industrial region of Knoxville with close proximity to Interstate 40 and rail access with tenants like FedEx, USPS, Kinder Morgan, Marathon Petroleum, Citgo
General
Property Type Industrial
Property Address 5815 Middlebrook Pike
Knoxville, TN 37921
Market TN-Knoxville
Land In Acres 3.11
Building Size 30,435 Square Feet
Primary Use R&D
Year Built 1968
Financial
Price $4,476,000
Price PSF $147.07
Cap Rate 7.50%
Current NOI $335,724
Lease
Tenant Name TestAmerica
Lease Type NNN
Annual Rent $335,724
Rent Escalations 4% annual increases
Lease Expiration Date 6/30/2027
Remaining Term 8.8Yrs