Target Steel

1 Steel Way, North Vernon, IN

Deal Type:

Net Lease

Price:

$4,750,000

Cap Rate:

7.25%

Current Rent:

$344,256

Lease Type:

Triple Net

Renewal Options:

None

Building Sq. Ft.:

117,376 SF

Rent Increases:

2% Annual Increases

Site Size:

9.5 Acres

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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]

Philip DiGennaro

Managing Director
203 610 1541
[email protected]

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

Due Diligence

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