Historical Industrial Sale Listing - Midwest Flex / Industrial Park

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Midwest Flex / Industrial Park

2477 S Crabtree Drive, Princeton, IN 47670

N/A

652,304 SF | Industrial

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Industrial Property - Off Market

Price:
N/A
Building Size:
652,304 SF
Property Type:
Industrial
Property Sub-type:
Flex Space
Property Use Type:
Investment
Cap Rate:
11.71%
Gross Rent Multiplier:
7.33
Year Built:
1998
Lot Size:
52.25 AC
Listing ID
18418916
Last Updated
43 days ago

Highlights

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

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.

Map of Princeton, IN 47670 (Gibson County) - exact location not found

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