Updated Dec 4, 2024
Bintelli Signs 150,000 SF Industrial Lease In Jeffersonville, Indiana Facilitated By Avison Young
300 Corporate Drive
Building Size
150,000 SF
Asset Type
Industrial
Closing
Jan 29, 2024
About this deal
AI
Bintelli, a low-speed vehicle manufacturer based in Charleston, has signed a 150,000-square-foot industrial lease at River Ridge Commerce Center in Jeffersonville, Indiana. The lease was facilitated by Ashley Jackrel and Matt Ryder of Avison Young. The industrial property is located at 300 Corporate Drive in Jeffersonville and has a market value reflecting a $4 million investment. The lease represents an expansion for Bintelli, allowing them to fulfill their production plans for golf carts, shuttles, vehicles, parts, and accessories. This move is expected to create 67 new jobs.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not Applicable
- Square Footage: 150,000
- Address: 300 Corporate Drive, Jeffersonville, Indiana
- Market: Jeffersonville, Indiana
- Tenant: Justin Jackrel - Bintelli
- Landlord's Representative: Dustin Coffman - PRG Commercial Property Advisors
- Tenant's Representatives: Ashley Jackrel & Matt Ryder - Avison Young
Players
Jeffersonville Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93