Target Steel

1 Steel Way, North Vernon, IN
Deal Type:
Net Lease
Cap Rate:
Current Rent:
Lease Type:
Triple Net
Renewal Options:
Building Sq. Ft.:
117,376 SF
Rent Increases:
2% Annual Increases
Site Size:
9.5 Acres

Investment Highlights

  • Long-term (9 year) absolute triple net lease till June 2031 with 2.00% annual escalations.
  • One Time Termination Agreement effective May 1, 2026 with a delivery to landlord no later than October 31, 2024. If Tenant Elects to so terminate lease, Tenant shall pay to Landlord $500,000 at time of time of delivery. Failure to deliver notice or fee on time will waive one time right.
  • Target Metal Blanking (the tenant) is a leading metal supplier for Automotive OEM’s as well as Tier I and Tier II suppliers to the automotive industry.
  • TMB North Vernon operates this facility in Southeast Indiana, making this facility prime for servicing the Midwest, as well as the southern Midwest region. This facility is comprised of 2 slitting lines as well as four blanking lines. Property is equipped with rail and truck assess and IATF Quality Certifications.
  • Diversified customer base with companies such as Ford, Toyota, AK Steel, Magna, and Martinrea.

Listing Agents

Kyler Bean

Managing Director
325 227 0893
[email protected]

Ryan Rapoport

Senior Associate
214 457 5894
[email protected]
phil digennaro stream capital partners

Philip DiGennaro

Managing Director
203 610 1541
[email protected]

In Association with Scott Reid & ParaSell, Inc. | Licensed Indiana Broker #IN-RC51900187


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