Hill's Pet Nutrition Distribution Center_Property for Sale
Hill's Pet Nutrition Distribution Center_Property for Sale

Hill's Pet Nutrition Distribution Center

2859 Salisbury Road, Richmond, IN, 47374, US

Asset 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 opportunity to acquire highly functional, mission-critical real estate with excellent

regional distribution capabilities for a publicly traded, investment-grade credit user.

...

Attributes

Building area gross
46,229 m²
Land area gross
12.63 ha
Occupancy
100%

Media

Investment Highlights

  • Publicly Traded, Investment-Grade User with Strong Locational Ties


  • Unparalleled I-70 Connectivity in the Heart of E-Commerce


  • Yield Enhancement Opportunity via Mark-to-Market and NNN Conversion


  • Highly-Functional Asset at a Significant Discount to Replacement Cost
Hill's Pet Nutrition Distribution Center 4_Property for Sale
Hill's Pet Nutrition Distribution Center 4_Property for Sale

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Last updated
2 Apr 2025