Overview
The NAI Hiffman Industrial Capital Markets Team is pleased to present for sale 4410 West 37th Avenue in Hobart, Indiana. The asset is a 132,474 square foot manufacturing facility leased to two tenants in the catalytic converter industry, with a WALT of 5.25 years (as of 01/1/2025). Both tenants are guaranteed by AP Emissions Technologies, a Marmon Holdings company.
The property is situated in the Northwest Indiana submarket of the Chicago MSA, with immediate access to Interstates 65 and 94. The submarket has seen robust tenant demand in the first half of 2024, absorbing 1.2 million square feet year-to-date and seeing its vacancy rate decrease from 10.4% to 8.2% over the period of one quarter.
The property also comes with approximately 16 acres of vacant land that could be used for industrial outdoor storage, trailer parking, or other industrial development opportunities.
Investment Highlights
-132,474 SF on 5.85 acres, with approximately 16 acres of additional land for trailer parking.
-Property is located at a full interchange off I-65, and 1.3 miles south of I-94 and 3.7 miles south of I-90
-Two “sticky” tenants – leaders in the production of catalytic converters
-Net leased investment with 5.25 years of remaining lease term
-Low Lake County real estate taxes
-Approximately 15 miles from the Illinois border
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