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Net Lease

Flex Ltd.

71 Utopia Rd, Manchester, CT 06042

Listing Price: $6,990,000

Cap Rate
6.69%
Gross SF
56,250
Price/Gross SF
$124.27
Lot Size
3.89 acres
Year Built
1998
Rentable SF
56,000

Investment Overview

This prime industrial property presents a compelling investment opportunity with a newly
executed five-year triple-net lease, including an extension option, ensuring long-term
stability. The location has a rich legacy of over 50 years of continuous use, originally
serving as the site for a precision manufacturing firm before being acquired by Flex Ltd.
Flex Ltd has demonstrated a strong commitment to this site, investing $10 million in 2019
and approximately $35 million over the past 15 years in tailored upgrades for design and
manufacturing needs. The facility supports a workforce of over 250 employees and
features extensive tenant build-outs at their expense.

Strategically located just one mile from Interstate 84, the property offers excellent
logistics advantages, with quick access to I-91 (less than 15 minutes) and Massachusetts
(less than 30 minutes), and is only 75 minutes from New York State. The surrounding area
is a thriving industrial hub, home to prominent firms such as Pursuit Aerospace, LKQ
Corp, and Paradigm Precision. Additionally, it is well-supported by mechanical services,
millwork, and building products and supplies, further enhancing its appeal as a robust
investment.

Investment Highlights

  • 50-Year Operating History in this Location | Credit Tenant BBB- | Flextronics: (NASDAQ: FLEX)
  • Triple-Net Lease | New Five Year Lease Recently Executed
  • Strategically Located One-Mile from Interstate 84 and Less Than 15-Minutes to Interstate 91 | 10 Miles to Hartford, CT | 27 Miles to Springfield, MA | 93 Miles to Boston, MA | 127 Miles to NYC
  • Easy Access to Massachusettes, New York, and the Eastern Seaboard

Exclusively Listed By

Listing Price: $6,990,000

Cap Rate
6.69%
Gross SF
56,250
Price/Gross SF
$124.27
Lot Size
3.89 acres
Year Built
1998
Rentable SF
56,000

Investment Highlights

  • 50-Year Operating History in this Location | Credit Tenant BBB- | Flextronics: (NASDAQ: FLEX)
  • Triple-Net Lease | New Five Year Lease Recently Executed
  • Strategically Located One-Mile from Interstate 84 and Less Than 15-Minutes to Interstate 91 | 10 Miles to Hartford, CT | 27 Miles to Springfield, MA | 93 Miles to Boston, MA | 127 Miles to NYC
  • Easy Access to Massachusettes, New York, and the Eastern Seaboard

Investment Overview

This prime industrial property presents a compelling investment opportunity with a newly executed five-year triple-net lease, including an extension option, ensuring long-term stability. The location has a rich legacy of over 50 years of continuous use, originally serving as the site for a precision manufacturing firm before being acquired by Flex Ltd. Flex Ltd has demonstrated a strong commitment to this site, investing $10 million in 2019 and approximately $35 million over the past 15 years in tailored upgrades for design and manufacturing needs. The facility supports a workforce of over 250 employees and features extensive tenant build-outs at their expense. Strategically located just one mile from Interstate 84, the property offers excellent logistics advantages, with quick access to I-91 (less than 15 minutes) and Massachusetts (less than 30 minutes), and is only 75 minutes from New York State. The surrounding area is a thriving industrial hub, home to prominent firms such as Pursuit Aerospace, LKQ Corp, and Paradigm Precision. Additionally, it is well-supported by mechanical services, millwork, and building products and supplies, further enhancing its appeal as a robust investment.

Exclusively Listed By

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