Hill's Pet Nutrition Distribution Center — Sale in Richmond, IN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Richmond, IN 47374
  • Size: 497,610 SF

Photos

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Description

Jones Lang LaSalle (“JLL”), as exclusive advisor to ownership, has been retained to market for sale the fee-simple interest in the Hill’s Pet Nutrition Distribution Center (the “Offering” or the “Property”), a 497,610 square foot, distribution facility on 31.2 acres in Richmond, Indiana along Interstate 70. Originally delivered in 1999, followed by a 146,985 square foot addition in 2008, the distribution facility features almost 200 trailer parking stalls, 50 fully packaged dock-doors, and a new roof with a 20-year warranty in-place. The asset’s immediate positioning adjacent to a major east-west distribution artery, has given the widely recognized pet food supplier, Hill’s Pet Nutrition (“Hill’s Pet”), a subsidiary of Colgate-Palmolive (NYSE: CL), increased delivery efficiency and an ability to reach a wide customer-base with ease. The company has long been tied to Richmond, Indiana, operating a major manufacturing plant in the town since the early 1990’s and has been the sole tenant at the Property since it was constructed. Strategically positioned just 2 miles from the Hill’s Pet Richmond Manufacturing plant, the Property’s proximity to the manufacturing plant creating enhanced operational efficiency combined with regional access to over 30 million consumers led Hill’s Pet to choose this site as its primary Midwest distribution hub. At the crux of four (4) major Midwest markets in Indianapolis, Dayton, Cincinnati, and Columbus, the Offering benefits from access to abundant transportation infrastructure with 11 major interstates, 5 international airports, and a diverse set of demand drivers including manufacturing, e-commerce, logistics / distribution, etc. Additionally, with less than four (4) years of lease-term remaining, future ownership unlocks the ability to mark in-place rents to market and further enhance yields by converting the modified gross lease to triple-net recovery. Investors in the Hill’s Pet Nutrition Distribution Center are offered the opportun

Market Context

This industrial in Richmond, IN is listed for sale across 497,610 SF. Compare it against other industrial listings for sale in Richmond, IN — view the full market.

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