This Industrial Property is Off-Market.

2477 S Crabtree Drive
Princeton, IN 47670 ·

652,304 SF · Industrial For Sale

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Midwest Flex / Industrial Park

Price N/A Cap Rate 11.71%
Building Size 652,304 SF Gross Rent Multiplier 7.33
Property Type Industrial Year Built 1998
Property Sub-type Flex Space Lot Size 52.25 AC
Property Use Type Investment
Listing ID: 18418916 Date Created: 10/25/2013 Last Updated: 11/07/2014

Description

Subject is a Flex/Industrial development portfolio that has been developed since 1998. Strategically centered around Toyota's second largest manufacturing plant in the United States it benefits from the plants continuous growth and profitability. The property has since continued to see increased demand. This is evident by the most recent addition of approximately 110,000 sf to the existing build to suit for Toyota which was previously 210,000 sf. buildings 1-8 are developed as a park with buildings 9 & 10 being located nearby. Approximately 80% of the space is leased to Toyota or an affiliated business. The balance is largely comprised or suppliers and vendors. Most recently Toyota secured a 5 year lease on the largest building of 319,830 for the continued growth of their distribution. Seller would have an interest in staying on in a management role for a new buyer.

Princeton Indiana is a county seat of Evansville, Indiana. Located approximately 20 Minutes North of Evansville it is a great location for manufacturing and distribution. Princeton was chosen by Toyota Manufacturing largely because of its strong work ethic which has been proven by the continued awards the plant receives for productivity. Toyota has continuously reinvested in the plant and increased production since its opening in 1995. Area is served by highway 41, I-164. and I-69. I-69 when completed will be a direct route from Evansville to Indianapolis. The Evansville Regional Airport is approximately 10 minutes south of the site.

Highlights

  • 100% leased - 80% to credit tenant
  • History of strong growth & occupancy with long term tenants
  • Seller willing to stay and manage for buyer

Research

2477 S Crabtree Drive, Princeton, IN 47670 (Gibson County)

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