SVN | Wood Properties is pleased to present the exclusive listing for this true triple-net, zero landlord expense, property located at 601 Oak Ridge Turnpike in Oak Ridge, Tennessee. It is conveniently located directly off the Oak Ridge Turnpike (30,000+ cars per day) at a signalized corner and sits approximately 2.5-miles north of Highway 62, which leads to I-40. The site consists of approximately 42,303 rentable square feet of building space on a 3.90-acre level parcel of land. The two-story building includes state-of-the-art laboratory equipment along with multiple private offices, conference rooms, kitchens, restrooms, and warehouse space, and also benefits from ample parking.
The tenant, Nucsafe, was originally subject to a 7-year true triple-net (NNN) lease with zero landlord expenses, which expires on June 30, 2027, but has been leasing the property for over 15 years. The annual rent is $507,636 and is scheduled to increase by two and a half percent (2.5%) every year throughout the base term and two and a half percent (2.5%) during the one (1), two (2)-year renewal option. The lease is fully guaranteed by OSI Systems, Inc. (OSIS), Nucsafe's parent company, which is a global company that develops and markets security and inspection systems such as airport security X-ray machines and metal detectors, medical monitoring and anesthesia systems, and optoelectronic devices.
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