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For Sale or Lease: Former Nissan Dealership (South Burlington, VT)

Friday, July 29th, 2011

Former Freedom Nissan car dealership located on heavily travelled Route 7. First floor has 9,793 +/- SF with a showroom, 3 showroom offices, customer waiting area, two restrooms, parts/service counter and rear service garage with auto repair stations. Second floor has 975 SF office mezzanine space, 2,763 +/- SF storage mezzanine plus a locker room with shower & bathroom. Concrete slab foundation with steel frame & concrete block construction. Insulated storefront glass windows. Two 8’ drive-in doors and one 12’ drive-in accessing garage service area. HVAC in office. Three phase electrical system. Convenient to I-89, Exit 13.

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For Sale: Multi-tenant office & warehouse (Charlotte, VT)

Friday, July 29th, 2011

Located in pictorial country setting, 1 mile from Route 7, this multi-tenant, commercial/light industrial building in a mixed use environment offers 24,981 warehouse space and 16,622 SF of office space. Flexible floor plans and tenants spaces.

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New This Week at Redstone: Week of September 14th, 2009

Friday, September 18th, 2009

Approximately 1,300 SF.  Formerly a Dunkin’ Donuts/Convenience and grocery, this space provides an excellent neighborhood location on the corner of  Woodbury Road and North Avenue.  Highly visible with plenty of free parking.  Available immediately.

Prime Retail space on church street.3,500 SF with expansion potential.The space can be sub-divided into 3 spaces of 750 SF, 1,000 SF and 1,500 SF fairly easily. The full basement is a bonus as well is the access from the rear with parking available for a monthly fee.

Two Industrial condos totaling 12,384 SF on 1.32 acres with frontage on both Leroy Road (285′) and Krupp Drive (157′).  Fully Sprinklered warehouse with 18′ ceilings.  Three electric overhead doors (two at dock height, one at grade).  Municipal water and sewer & natural gas.  Located within well-established commercial, light industrial zoned area.

Former Shelburne Motorcars location, this space offers 4,000+ SF of warehouse space perfect for automotive repair or storage facility. 10’x12’ drive-in door and 13’x12’ office, bathroom, dedicated parking. Conveniently located ju…st off Shelburne Road. Fully sprinkled, gas heat, and concrete floors. Available October 1st.

Summer 2009 Market Insights: Industrial

Tuesday, July 14th, 2009

For the first two quarters of 2009, the vacancy rate for industrial/warehouse space in Chittenden County has been 9%. This is a very acceptable vacancy rate considering the depth and severity of this recession, and given that the historic average vacancy rate is 7.4%. Although we have experienced a net decrease in occupancy over the past 12 months, there are still local companies which have contributed to space absorption, such as Green Mountain Coffee Roasters and Blodgett Ovens.

The industrial market in this recession versus the last significant recession in 1989-1992 seems to be quite different. The 1989-1992 recession provided significantly more foreclosures, and bank-owned properties and vacancy rates increased to over 10%. It is widely believed that the Vermont State and Chittenden County economies tend to be insulated and lag behind national economic trends. This seems to hold true with many fearing that national economic impacts will still be chiseling away at our economic foundation after the rest of the nation has turned.

With the increased vacancy rates, lease rates are trending lower. Average industrial space is currently leasing at $4.50 – 6.00 per SF with the tenant paying the NNN expenses which will typically add another $1.50 per SF to the occupancy costs. A prime example of warehouse/ industrial space is 68 Nesti Drive in South Burlington. The other factors that favor lower lease rates are the cost of construction and cost of money, which have significantly been reduced in the last twelve months.

However, capitalization rates have recently increased. This is a bit unusual as the interest rates are historically low. Investors seem to be more cautious with their cash, and are looking to the capitalization rate for their return on money, not appreciation.

New supply in 2009 is projected to be limited with no new speculative projects planned and a few small owner-occupied driven projects. These projects will most likely contribute approximately 50,000 SF of space to the marketplace.

68 Nesti Drive, South Burlington:

Other exceptional Industrial Properties include:

133 Elm Street, Winooski:

312 Commerce Street, Williston:

823 Ferry Road, Charlotte: