Savills has facilitated the $24.75 million sale of Graham Packaging’s showcase plastics manufacturing warehouse facility comprised of 266,720 square feet at Vanderburgh Industrial Park in Evansville, Indiana.
Maurice Nieman, executive managing director at Savills, represented the seller in the transaction.
5504 Foundation Drive, which was constructed in 2002 and expanded in 2008, is leased to Graham Packaging, an industry leader in the design and manufacturing of packaging solutions. The long-term lease provides in-place cash flow for the foreseeable future. The property is part of Vanderburgh Industrial Park, a master-planned industrial park within a core location in the heart of “Plastics Valley.”
Graham Packaging operates multiple plastic blow molding lines around the clock, which produce a staggering 300 million food and beverage containers annually. This plant is considered a near facility as Graham’s major clients, which include some of the biggest names in the food industry, are within 50 miles.