Industrial O Indiana

Avison Young sells 480,000-square-foot industrial portfolio in Indianapolis

  

Avison Young has completed the sale of a 480,534-square-foot industrial portfolio in the Park 100 industrial park in Indianapolis. The portfolio includes two multi-tenant, institutional-quality buildings at 7236-7260 Winton Drive and 7451-7543 Winton Drive.

Avison Young principals Erik Foster and Mike Wilson, based in Chicago, led the sales effort. They worked in conjunction with industrial brokerage principals Sean McHale and Steve Schaub, based in Indianapolis.

Foster and Wilson represented the seller, an undisclosed institutional fund advisor. The buyer was Exeter Property Group, an investment management firm based in Philadelphia. Financial details were not disclosed.

The portfolio is completely leased and has been maintained and renovated to meet the specific requirements of the tenants. Among the national corporate tenants are Pitney Bowes, Ryder Integrated Logistics 3M and Polaris Laboratories.