The Dairy Building is an excellent opportunity for an investor to own an income generating property with the potential for future development.
The offering is only for the existing improvements. The improvements lay on leased land not included in this sale, however there is potential to acquire the underlying land. The annualized land lease rate is $17,999.55. There is opportunity for development on the excess land during the leasehold term.
Located toward the southern end of the Central Eastside’s IG1 zone among storage facilities, single-level concrete tilt-up manufacturing warehouses and industrial showrooms, with Darigold’s iconic production facility adjacent to the west. The Dairy Building is a unique and pioneering asset, as there are no other similar-quality office build-outs in the area.
The Central Eastside remains highly attractive for high-tech owner/users and investors benefiting from compressed CAP rates and limited supply.