Cummins Inc. Leases 1.1MSF Industrial Space At Mohr Logistics Park In Whiteland
5741 North 225 East
Building Size
1,100,000 SF
Asset Type
Industrial
Closing
May 10, 2024
AI
The leased property is a newly constructed 1.1 million-square-foot Class A building located at 5741 North 225 East in Whiteland, Indiana. The property is part of Mohr Logistics Park, which is planned to encompass a total of 7 million square feet of industrial space upon completion.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided in the context
- Landlord: Bob Mohr - Mohr Capital
- Tenant: Heidi Kent & Gabrielle Woolley - Cummins Inc.
- Landlord's Representative: Mark Writt - CBRE
- Tenant's Representative: Anne Street, Brian Zurawski, Jon Jessup & Kathy Foster - Colliers International
- Lender: UBM Bank
Cummins Inc., as the tenant, has leased the 1.1 million-square-foot building at Mohr Logistics Park for its global power solutions operations. The industrial park in Whiteland, Indiana, already hosts notable tenants like Goodyear, NFI, Turn 14, and DHL, making the lease by Cummins Inc. the fifth major agreement for the industrial park.
Players
Whiteland 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