I-70 Industrial Building 5255 S State Road 3

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire 5255 S State Road 3, a 25,404-square foot industrial building located 45 minutes from downtown Indianapolis in New Castle, Indiana. The Property was constructed in 2018 with the highest quality construction and sits on 5.7 acres directly off of Interstate 70, a major east and west interstate that experiences approximately 40,000 of vehicles-per-day. The Property previously operated as a state-of-the-art and one-of-a-kind gun range for the last +/-5 years and has recently been vacated. The offering represents a unique opportunity for any incoming investor to re-tenant the building as is or to expand the current footprint or completely redevelop the site into one of the many allowed commercial and industrial uses per Henry County’s General Business District (GB) Zoning Code. (See Zoning Information Page).
Two miles north of the Property is the New Castle-Henry County Industrial Park, a +/-1M SF industrial park that is home to Boar’s Head, a deli processing facility originally built in 2014 and slated for a 136,000 SF expansion in 2024; TS-Tech, an automobile seat manufacture that occupies a 400,000 SF building and employs over 450 people; and a new speculative (shell) building that consists of 50,000 SF (expandable up to 200,000 SF) that sits on +/-15 acres and offers 32 ft. clear ceiling heights. All of these nearby developments represent in total over $200M invested into the immediate area in the last 9 years and created over 1,000 jobs.
Henry County is an ACT Certified Work Ready community and boasts a diverse and well-trained workforce, attracting labor from surrounding densely populated areas including Richmond, Muncie, Anderson, and Indianapolis with a labor shed of approximately 236,000. Notable distributors and manufacturers within Henry County include Boar’s Head, Crown Equipment, TS-Tech Americas, Inc., Draper Inc., Remington Seeds, with more speculative industrial and manufacturing buildings currently underway. The Property’s redevelopment potential also benefits from being located within a Tax Increment Finance (TIF) District, which could be a very beneficial to any potential investor looking to redevelop the site.