24 Ames Blvd, Hamburg, NJ, 07419

Acquisition Date: January 2015
Acquisition Price: $3,150,000
Acquisition Cap Rate: 11.8%
Current Market Value: $5,000,000
Building Size: 69,865 SF
Acquisition Cost per SF:  $46.52
Property Type: Industrial/Manufacturing
Tenant: Accurate Forming
Occupancy: 100% (single tenant)
Investor Returns: Over 20% average annual return on investment
(not including increase in property value)

Highlights:  This property is an industrial building used as the principal location for a profitable manufacturing business.  The property experienced environmental issues which are typical for a manufacturing facility such as this one, resulting in a favorable acquisition price due to the perceived risk.  Through extensive due diligence, Envision determined that the environmental issues were fully remediated, a strong environmental guaranty from a prior responsible party was effective and in place.  Moreover, there was a long-term lease in place and a low probability that the tenant could ever vacate the building due to the nature and use of the building and prohibitive cost of relocation.  As a result, the deal represents a low risk transaction with above market yields.