Virginia Tile & Springfield Electric Lease Space At 96th Street Commerce Park In Indianapolis
4161 East 96th Street
Building Size
80,654 SF
Asset Type
Industrial
Closing
Jul 17, 2023
AI
Virginia Tile and Springfield Electric have leased space at the 96th Street Commerce Park in Indianapolis. The industrial property, located at 4161 East 96th Street, spans approximately 80,654 square feet. It will accommodate both companies' operations and serve as their first locations in the Indianapolis market.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 4161 East 96th Street
- Market: Indianapolis
- Square Footage: 80,654
The landlord in this lease agreement is Citimark. Virginia Tile, a company specializing in tile products, will occupy 51,837 square feet of the industrial space to operate a showroom and finishing facility. Springfield Electric, an electrical products distributor, will utilize 28,817 square feet for their operations. The tenant representatives for this deal are Jimmy Cohoat and Brian Zurawski from Colliers.
Players
Indianapolis, 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