6500 Hamilton Lebanon Rd Monroe, OH
$ 24,000,000
Property Size:
399,600 sqft
Cap Rate:
$ 1,566,432
Lot Size:
24.46 acres
Year Built:

Xerox – Over 100-Year Old, Multi-Billion Dollar, Publicly Traded Corporation
Xerox was founded in 1906 and was listed on the New York Stock Exchange in 1961. The company is currently headquartered in Norwalk, Connecticut, but their founding was in Rochester, New York where
they still have a very large presence. They operate in 160 countries and employ nearly 25,000 people. Currently, they rank as #347 on the Fortune 500 list and are rated BB by Standard & Poor’s. As of December
31, 2020, Xerox had Revenues of over $7.02 Billion, Gross Profit of $2.63 Billion and a Net Worth of $5.80 Billion.

Long-Term Occupancy and Commitment to This Facility
The Tenant occupied this facility nearly 30 years ago in 1992 and at that time they invested over $40 million into the move and building renovations. Since this time, Xerox has made significant investments in racking
systems, dust control, flooring, paint, and other equipment specific to their operations. This facility employs unionized skilled labor, so it unlikely they would opt to move and lose this talented workforce. As of April 1,
2021, Xerox effectively signed their fifth lease extension while also increasing their annual rent.

Strong Lease Economics, Favorable Expense Reimbursements & a Brand New Roof
Xerox is operating under a triple-net lease with the Tenant being responsible for reimbursement of expenses. Property expenses are defined per the lease agreement with the Tenant reimbursing Landlord incurred
operating expenses (See Lease Abstract). Tenant is paying at or below market rents at $3.92 PSF with annual CPI based rental increases, but not less than 2%. Additionally, in 2018/2019, the Subject Property
underwent a complete roof replacement.

Highly Desirable Submarket in Thriving Cincinnati Industrial Market
Cincinnati has over 290MM SF of inventory, over 8.4MM SF under construction and a vacancy rate of 5.7%. The region’s central location, access to multiple air cargo hubs, business-friendly nature and affordable cost
of living make the city a highly desirable location for Tenants. The Subject Property submarket (Monroe/Middletown) is the region’s second largest industrial area north of the Ohio River and fourth largest overall.
The abundance of farmland and the favorable topography of the Monroe/Middletown submarket area provide an advantage, as Greater Cincinnati’s other large submarkets are beginning to experience a shortage
of available land sites for additional development. The area is centrally located between Cincinnati and Dayton, making it ideal to accessing locations in all directions via I-75, I-71, I-70 and State Route 63. Major
industrial tenants in the Monroe/Middletown submarket include Amazon (1.2MM SF), Home Depot (657K SF), Hayneedle (900K SF), DHL (756K SF), Cornerstone Services (651K SF) and Kohl’s (525K SF).






The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Exclusive Listing

Jerry Hopkins
Executive Managing Director
Ken Hedrick
Executive Managing Director
D. Andrew Ragsdale, Esq.
Senior Managing Director


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