Updated Dec 4, 2024
John Deere Acquires 234-Acre Site In Lowell, IN From Hallmark Construction Co
2105 West 181st Avenue
$7,000,000
Building Size
—
Asset Type
Industrial
Closing
Jul 2, 2024
About this deal
AI
The industrial property located at 2105 West 181st Avenue in Lowell, IN, spans across 234 acres. The transaction involved the sale of this property from Hallmark Construction Co. to John Deere for $7,000,000. The deal was facilitated by brokers Nancy Frigo and Nicholas Smith from Coldwell Banker.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,000,000
- Buyer: John Deere
- Seller: Hallmark Construction Co.
- Brokers: Nancy Frigo & Nicholas Smith - Coldwell Banker
Venture One is set to construct a 1.2 million-square-foot warehouse on the purchased site in Lowell, Ind., following the acquisition by John Deere. The investment by John Deere in this project is expected to reach up to $125 million, leading to the creation of around 1,200 construction jobs and 500 permanent positions.
Players
Lowell Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93