Industrial O Indiana

JLL closes nine-building bulk warehouse sale in Indianapolis market

JLL closes nine-building bulk warehouse sale in Indianapolis market,ph01

JLL has closed the $50 million sale of Shadeland Commerce Center, a nine-building bulk warehouse and light industrial property totaling 1.7 million square feet in Indianapolis’ East Industrial submarket.

JLL marketed the property on behalf of the seller. Plymouth Industrial REIT, Inc. purchased the offering.

Shadeland Commerce Center is 95 percent leased to 26 tenants in a variety of industries, including paper and packaging; logistics and distribution; retail, professional and business services; construction materials; and building fixtures and automotive.

The bulk warehouse and light industrial buildings feature clear heights ranging from 16 to 24 feet, low office finish, 201 dock-high doors, 24 drive-in doors and ample parking. Shadeland Commerce Center is situated on 116.5 acres at 2900 Shadeland and 6555, 6575, 6585, 6635, 6701, 6727, 6751 and 6951 East 30th Street one mile from the interchange at Interstates 70 and 465, which connects the major east-west interstate in Indiana with the primary loop around the city.

Located within Indianapolis’ East Industrial submarket, the portfolio is about 21 miles from Indianapolis International Airport. The property is located across the street from two other Plymouth-owned properties at the Shadeland I-70 Business Park.

The JLL Capital Markets team representing the seller was led by Co-Head of Industrial Capital Markets John Huguenard and Managing Directors Sean Devaney, Brian Seitz and Brian Buschuk.