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Long-Term Absolute Net Sale-Leaseback Opportunity
403 New Karner Rd, Albany, NY 12205
- For Sale Contact for pricing
- Property Type Office - General Office
- Lot Size 2.2 SF
- Year Built 1989
- Date Updated Jun 27, 2022
403 New Karner Road is a 15,000 square foot, single-tenant office building located in Albany, New York. The Property sits on 2.20 acres and offers 164 surface parking spaces that it shares with 401 New Karner Road. The Property is 100% leased to Applied High Voltage, an Albany-based company that specializes in electrical engineering and EPC projects. Applied High Voltage is a wholly owned subsidiary of SEC Holdings Group which rolls up to the Oaktree Power Opportunities Fund V.
The sale-leaseback opportunity includes Applied High Voltage signing a new fifteen (15) year, Absolute Net lease which shall commence upon Closing with 2.0% annual increases and fully guaranteed by Applied High Voltage, LLC. This Absolute Net lease structure creates the ultimate passive investment opportunity with zero maintenance or capital risk while providing yield appreciation through market rental rate bumps within the contracted lease.
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- City Albany, NY
- Neighborhood Verdoy
- Zip Code 12205
- Market Albany
Frequently Asked Questions
What is the total square footage of Long-Term Absolute Net Sale-Leaseback Opportunity?
Long-Term Absolute Net Sale-Leaseback Opportunity totals 15,000 square feet.
When was this property built?
Long-Term Absolute Net Sale-Leaseback Opportunity was built in 1989.
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