NNN-Leased Defense Manufacturing Facility 180 Jim Edwards Dr 16 000 pi² Industriel Immeuble Johnstown, PA 15904 1 790 750 $ CAD (111,92 $ CAD/pi²) 13,04% Taux de capitalisation

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of a five-building defense manufacturing portfolio located in Hagerstown, Maryland and Johnstown, Pennsylvania. The portfolio totals 97,379 square feet across 13.18 acres of industrial-zoned land and is 96% leased to Electromet Corporation, a defense manufacturer with a 51-year local operating history. The remaining 4% is leased to Antietam Broadband, a full-service broadband provider with deep local roots. Electromet has a weighted average lease term of 3.11 years across four NNN leases, while Antietam Broadband recently signed a 1-year lease extension with three 1-year options. The properties are offered as a portfolio but can be purchased separately.
The manufacturing buildings range in size from 16,000 SF to 28,000 SF and were all built between 1960 and 2019, with heavy electrical service and reinforced floors. This size range fits the most active leasing segment within the market. With a limited supply of similarly-sized properties, these manufacturing buildings would appeal to manufacturers, service companies & contractors; which constitute the deepest tenant pool in both cities.
The property in Johnstown can be sold separately from the portfolio. It sits in an established industrial park, with neighbors such as Lockheed Martin, the American Red Cross, and Pepsi. Frito-Lay is building a new distribution center within walking distance of the property. Johnstown enjoys an exceptionally low 3.9% vacancy rate for industrial buildings under 200,000 SF. Southwestern PA has seen consistent rent growth and low vacancy rates because of its deep labor pool and large number of local manufacturers and service companies.
Founded in 1974, Electromet Corporation is a precision manufacturer of custom enclosures used in mission-critical defense systems such as tactical ground vehicles, radar systems, and command-and-control platforms. Its products meet stringent military standards for strength, vibration resistance, and electromagnetic shielding, serving major defense programs and prime contractors including BAE Systems and General Dynamics.
This offering represents an opportunity to acquire a portfolio of well-maintained manufacturing assets leased to a defense-focused tenant with recession-resistant operations. Both Hagerstown and Johnstown are healthy industrial markets, with low vacancy rates and positive absorption. The size ranges and convenient locations of the manufacturing buildings offers a future leasing advantage to a new owner.