NNN Industrial Portfolio - Garrett Indiana

Industrial for Sale
Catylist Listing ID: 30724629
Property Subtypes: Flex Space, Net Leased, Warehouse/Distribution
Building Size (RSF): 138,500 SF
Gross Building Area: See Agent
Sale Price: $5,993,550
Unit Price: $43.27 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 4/19/2021

Overview / Comments

SVN Parke Group is pleased to present the sale offering of 325 N Taylor Street, Garrett, Indiana, a two building industrial net leased package. The property is located in an industrial park off Interstate 69 approximately 25 miles north of Fort Wayne, Indiana. The subject offering is a single parcel that consists of a 120,000 SF reestanding industrial warehouse and a 18,500 SF reestanding flex building. The buildings are 100% occupied by two tenants who each lease an entire building. The 120,000 SF building is leased to Kautex, Inc. which is part of Textron, Inc. the publicly traded parent company of numerous globally recognized businesses. Kautex, Inc. is one of the 100 largest automotive suppliers in the world in terms of sales volumes with 30 acilities in 14 countries.
Kautex has been a tenant in the warehouse since 2015. Bohren Logistics Inc. has occupied the 18,500 SF
lex building or 27 years and will execute a new 5-year NNN lease at closing o the sale.
This oering presents a stable, hands-o opportunity. At the current list price the investment generates
an NOI o $452,500 which equates to a blended 7.55% CAP rate.

Additional Details

Nearest MSA: Auburn
County: DeKalb
Tax ID/APN: 17-05-34-401-006.000-013
Tenancy: Multiple Tenants
Total Number of Buildings: 2

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,891 12,432 25,853
Median Age: 32.55 35.86 37.95
Households: 1,069 4,751 10,026

Contact

Photograph of Listing Agent

Troy Reimschisel

SVN | Parke Group ICREX Member
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