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4161 East 96th Street

Virginia Tile & Springfield Electric Lease Space At 96th Street Commerce Park In Indianapolis
LEASEDIndustrial

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

Jimmy Cohoat

Colliers

Broker

6 deals

Broker
C
CitimarkLandlord

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