14616 Foundation Ave, Evansville, IN 47725
150,000 SF | 4-Star Industrial Building | Evansville, IN 47725 | For Sale
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Industrial
Listing Contacts
Greg Folz
Verified Profile
- Property Info
Property Overview
Woodward Commercial Realty, Inc. is pleased to offer the opportunity to acquire the fee simple interest (land & building) in this NNN freestanding building leased to Windstream Communications LLC in Evansville, IN.
The tenant has 7+ years remaining on the primary 10 year term with two 5-year options to Renew per CPI increases. This NNN lease investment is ideal for passive investors looking for an investment with minimal landlord responsibilities. The current lease has an upcoming 10% rent escalation in 2027 and a substantial Letter of Credit by the Tenant as an additional layer of security of the Tenant’s lease obligations.
This 150,000 SF Concrete Tilt Warehouse was completed in 2022 as a Shell/Spec building within the Vanderburgh Industrial Park and leased immediately by Windstream Communications LLC as a relocation and expansion of their warehousing and distribution operation. Sitting minutes from I-69 and I-64, this distribution center has excellent interstate access in all directions with an easy drive to surrounding regional cities such as Indianapolis, St Louis, Louisville, Cincinnati, Nashville, etc. all within a 3 hour drive time.
Call Greg Folz at (812) 708-0106 or email at [email protected] for more information.
The tenant has 7+ years remaining on the primary 10 year term with two 5-year options to Renew per CPI increases. This NNN lease investment is ideal for passive investors looking for an investment with minimal landlord responsibilities. The current lease has an upcoming 10% rent escalation in 2027 and a substantial Letter of Credit by the Tenant as an additional layer of security of the Tenant’s lease obligations.
This 150,000 SF Concrete Tilt Warehouse was completed in 2022 as a Shell/Spec building within the Vanderburgh Industrial Park and leased immediately by Windstream Communications LLC as a relocation and expansion of their warehousing and distribution operation. Sitting minutes from I-69 and I-64, this distribution center has excellent interstate access in all directions with an easy drive to surrounding regional cities such as Indianapolis, St Louis, Louisville, Cincinnati, Nashville, etc. all within a 3 hour drive time.
Call Greg Folz at (812) 708-0106 or email at [email protected] for more information.
Property Details
- Class
- A
- Year Built
- 2022
- Stories
- 1
- Property Subtype
- Distribution
- Lot Size (sq. ft)
- 962,240 SF
Highlights
- 100% Occupied, 150,000 SF Concrete Tilt Warehouse completed in 2022
- 7+ years remaining on lease term
- Upcoming 10% rent escalation in 2027
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