Gibson County Warehousing

Industrial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30578113
Property Subtypes: Flex Space, Light Industrial, Warehouse/Distribution
Status: Pending/Contingent
Building Size (RSF): 907,568 SF
Gross Building Area: 954,230 SF
Gross Land Area: 60 Acres
Sale Price: $32,000,000
Unit Price: $35.26 PSF
Ceiling: 22 ft.
Docks/Doors: 85 Docks, 22 Doors
Office SF: 9,200 SF
Property Use Type: Investment
Building Name: Gibson County Warehousing
Sale Terms: Undisclosed
Cap Rate: 10.54%
Average Occupancy Rate: 95
Last Updated: 4/21/2021

Overview / Comments

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 additions of approximately 120,000 SF to the existing build to suit for Toyota which was originally 210,000 SF and has now completed at 490,030 SF. Buildings 1-8 are developed as a park, with buildings 9 &11 being located nearby.

Additional Details

Nearest MSA: Evansville
County: Gibson
Taxing Authority: Gibson County
Tax ID/APN: 26-12-30-100-000.612-027
Highway Access: Highway 41
Area Description: 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. The area is served by highway 41, I-164. and I-69. I-69, which is now fully completed, provides a direct route from Evansville to Indianapolis. The Evansville Regional Airport is approximately 10 minutes south of the site.
Tenancy: Multiple Tenants
Total Number of Buildings: 11
Number of Stories: 1
Property Condition: Excellent
Year Built: 1998
Year Renovated: 2019
Parking Type: Surface
Overhead Cranes: Undisclosed
Sprinklers: Wet

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,058 10,121 13,455
Median Age: 43.5 38.31 38.67
Households: 825 4,114 5,430

Contact

Photograph of Listing Agent

Jarrod Luigs, CCIM

SVN/The Martin Group
ICREX Member
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