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Newburgh Land Newburgh Land Newburgh Land Newburgh Land

Property Overview

Price/Rent PSF $ 750,000.00
Asset Type Land
Trade Type Sale
Acres Available 7.11
Date Available 06/03/2019
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Description

Location
Located along the Warrick Wellness Trail east of I-69 in Warrick County.

Sale
SVN Martin Group is proud to exclusively offer for sale 7 AC of land along the Warrick Wellness Trail between Evansville and Newburgh. This property is directly north of the new $37 million Encompass Health Deaconess Rehabilitation Hospital under construction. Sewer has been brought on site as part of recent development, and water/gas/electric are available along the road. This area east of I-69 is home to hospitals, nursing homes, and other assorted health service offices, making this parcel ideal for a complementary user.

Local government and economic development agencies have strategically planned and developed infrastructure in this area to accommodate long-term growth through the creation of a TIFF designated as the Epworth Corridor Economic Development Area (T87019). The TIFF encompasses 544 parcels with a gross assessed value of $280M. The redevelopment bond issuance associated with this TIFF carries an AA rating with Standard & Poors.

SR 66 (Lloyd Expressway) is the main roadway connecting Vanderburgh and Warrick counties. The Warrick Wellness Trail is a new 5 lane roadway running parallel to the Expressway 1200 ft to the north. It spans 1.5 miles from Epworth Rd to Libbert Rd. The Trail includes bike paths and a beautifully hardscaped road-a-bout at the Grimm Rd intersection.

To the west of the site is Arbor Development, a 75 AC mixed-use development with over 100 single-family homes and condominiums. In Arbor, construction is nearly complete on a Class A multifamily project, and a Marriott hotel recently opened. To the east of the site is a tract of land acquired by Meijer and set to be home of a new Supercenter. Just past Libbert Rd is Bellmoore Landing, a 70 +/- AC development that is home to a Walmart Supercenter, strip centers, offices, and restaurants.

Location

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