October 2020

Recently Sold – Orgill Distribution Facility, Sikeston, MO

Aerial view of a large industrial Orgill Distribution Facility with the word

Thomas Company is pleased to announce the sale of an Orgill distribution facility totaling +/- 1,026,000 square feet. The list price was $42.3 million. The distribution center services Orgill’s retail customers in the entire Midwest region and is the largest in Orgill’s network. The facility receives all of Orgill’s international shipments, making it a key part of Orgill’s overall distribution network. The asset was structured as zero-cash-flow investment, with long-term fixed rate CTL financing. The tenant executed a 23-year bondable triple-net lease with no landlord responsibilities. The in-place debt fully-amortizes prior to lease expiration. The purchaser was attracted to the easily assumable mortgage and the passive losses generated by the investment.