Investment Overview

Marcus and Millichap is pleased to exclusively represent the Vermillion Rise Mega Shell Building located at 222 W Broadway Ave., Hillsdale, Indiana. The subject property was built in 2017 complete to grey shell. Located in the Vermillion Rise Industrial Park (7,000 Acres), the building is 50,000 square-feet situated on nine acres and has the opportunity for expansion up to 200,000 square-feet with additional acreage available separately. The Class A building is precast concrete with an expandable west wall composed of engineered metal for easy expansion. The property benefits from (3) 9’x10’ docks and (1) 14’x18’ drive in with an overhead door. Located within a TIF district, the building benefits from unique development incentives including property tax abatement and has tax increment financing available. As a former DOD site, the property enjoys municipal privileges including zoning and permitting with one main point of contact for approvals, compressing build time and expediting occupancy. Vermillion Rise services the gas, water, sewer utility services, and electricity is provided by Duke. The site is located just two miles from the Indiana/Illinois state border, the area benefits from an educated talent pool from top institutions within a 35-mile radius. Educational institutions include DePauw University (Enrollment: 1,660), Rose-Hulman (Enrollment: 1,990), IUPUI (Enrollment: 27,690), IU Bloomington (Enrollment: 45,328), Purdue University (Enrollment: 49,639), University of Illinois (Enrollment: 56,299), and Ivy Tech (Enrollment: 63,809). This location has ease of access to I-74 (10 Minutes; 25,850 VPD) and I-70 (30 Minutes; 37,512 VPD). The area enjoys an AHHI of $67,423 (35-mile radius) and a population of 331,664 (35-mile radius). The subject property is located in the Terre Haute MSA (Population: 185,031). Terre Haute has evolved to a global economy driven by advanced manufacturing industries. The site location is synergistic with existing manufactures in the area including Amcor, Great Dane, ADVICS, Taghleef, GE Aviation, Elanco (Eli Lilly), International Paper, Scott Pet Products, Hearthside Food Solutions, Preferred Tire Recycling, Newport Pallet Company, Duke Energy Cayuga Generating Station, and Steel Dynamics (Fortune 500 Company). The subject property offers owner-users or investors the opportunity to acquire and finish to suit a Class A industrial warehouse.