53208 Columbia Dr Elkhart, IN

The property at 53208 Columbia Drive, Elkhart, Indiana, is a 117,938-square-foot manufacturing facility. Constructed in 2005 and expanded by 39,000 square feet in 2014, the property is located minutes from I-80 / I-90. The property is 100% leased to LTI Flexible Products, Inc., who has been operating at the property for nearly 20 years. The absolute net lease is parent-guaranteed with 2.75% annual escalations over the remaining 9.2 years of lease term as of September 1, 2024, with lease expiration in October 2033. The tenant extended their initial 15-year term early in 2022, adding 7 more years. The facility contains 12 assembly lines. The property is critical to the tenant and the OEMs they supply in the immediate area. The property is one of the Tenant’s two locations in North America that supports all of the Tenant’s plastic extrusion for the RV industry. The other facility is in Juarez, Mexico but only has a fraction of the production capacity that the subject property has. The Tenant services many different clients within Elkhart and given the size of their end products, it is cumbersome to ship in scale, thus being close to the end user is crucial. Elkhart is the RV Capital of The World, and the Tenant is heavily entrenched in the industry.