Current Tenant & Lease Structure

Tenant - Pipeline Supply & Services, LLC

“PSS Companies was formed by joining several well-known and respected companies (Wasatch Supply, Pipeline Supply & Service, North State Supply, and Porta-Lathe) into one big family across the United States. Due to PSS Companies rapid growth and success, we’ve continued to expand our services to provide the best solution possible to our customers. With more than fifty years of combined experience, we can serve and supply multiple industries including but not limited to oil and gas, drilling, mining, construction, and power plant.” Taken from  www.pipelinesupply.com/

Term Remaining – 54 Months, Primary Term expires on February 28, 2023

Rate – Current Base Rent is $5,800 per month through February 2020 with 2% annual increases thereafter.

Lease Structure – Lease is structured on a NNN basis; where Landlord is responsible for roof, slab, exterior walls, and structural components of building. Landlord is also  responsible for HVAC repair through February 2019. Tenant reimburses Landlord monthly for taxes and insurance and takes care of all other maintenance items directly.

Tower – There is a long term tower lease at the site. There is no rental income associated with the tower.

Recent Improvements – In 2018, portions of sheet metal were repaired, the exterior was painted, and the upstairs HVAC was replaced.