Second Quarter 2022 Acquisition -
Executive Mailing Services Sale-LeaseBack
| Transaction Overview | |
|---|---|
| Tenant | Executive Mailing Services (“EMS”) |
| Property Type | Industrial |
| Credit Rating | Executive Mailing Service, Inc.
(Moody’s Implied): Baa2 |
| Location | Palos Hills, IL |
| Purchase Price | $13.4 million |
| Square Feet | 175,000 |
| Weighted Average Remaining Lease Term(1) (years) | 15.0 |
| Property and Tenant Overview | |
|---|---|
Tenant • EMS is a leading full-service direct mail company founded in 1974 that offers processing, discounted mail preparation, lettershop and personalization services
• The tenant has been operating out of the Palos Hills location for over 37 years
• EMS was the first Midwest test site in 1989 for the direct USPS Bulk Mail Center Shipping program. EMS was responsible for designing mail containers, which are now recommended as standard BMC packaging by the USPS
Portfolio • The property is a 175,000 square feet industrial facility situated and serves as EMS’s headquarters and main industrial facility
• The property has 21 exterior doors, 2 drive-in doors, 224 parking spaces and includes 16,000 square feet of office space
• At closing, EMS signed a new, 15-year, absolute NNN lease that featured 2% annual rental increases |
EMS expects to process over 1 billion pieces of mail in 2022 and will have the capacity to process over 1.5 billion pieces