Cushman & Wakefield and Graham & Company are pleased to offer for sale a new, fully leased +/- 303,730 sq. ft. concrete tilt up distribution building in McCalla, Alabama, which is 12 miles southwest of Birmingham and 18 miles northeast of the Mercedes Assembly Plant in Vance.
The building is fully leased to Lear Corporation (NYSE: LEA) (“Lear”) with a remaining term of 9 years 4 months (expiration September 30, 2032) and 2.25% annual rent increases beginning October 1, 2024. The tenant is responsible for the cost of all operating expenses except for roof and structural maintenance, and repairs. Lear will use the facility for seat manufacturing and distribution.
Lear is the World’s 9th largest Tier 1 auto parts supplier to Global auto manufacturers. Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Lear’s 2022 Revenues and Net Income were $20.8 billion and $327.7 million, respectively. Lear ranks #179 in the Fortune 500 and has a S&P BBB- investment grade bond rating.
