Greenstone Partners Facilitates $10.3M Sale of Industrial Property in Indianapolis, Enhancing Commercial Real Estate Dynamics

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Indianapolis Industrial Property Fetches $10.3 Million in Recent Sale

Indianapolis, IN – A considerable industrial property located at 2402 Shadeland Avenue has been sold for $10.3 million. The transaction, finalized recently, involved a multi-tenant building encompassing 120,886 square feet within the Warren Park submarket. This sale represents a key growth in the Indianapolis commercial real estate landscape.

Deal Details and Key Players

Greenstone Partners facilitated the sale, with Jason St. John representing the seller, a Chicago-based family office. The firm also secured the buyer, a Florida-based real estate investment group. According to data from CoStar, the deal achieved the second-highest price per square foot for a multi-tenant industrial investment exceeding 100,000 square feet in Indianapolis.

Property Overview and Recent Improvements

The property currently houses seven tenants, with individual suite sizes averaging just over 17,000 square feet. Over the past four years, the previous ownership invested over $1 million in capital improvements to enhance the building’s functionality and appeal. A major component of this investment was a $726,000 full roof replacement, complete with a 20-year warranty. Additional upgrades included $133,000 dedicated to parking lot improvements, encompassing milling, repaving, and restriping. HVAC systems also underwent repairs and replacements.

Did You Know? The industrial real estate market in Indianapolis has seen consistent growth in recent years, driven by the city’s robust logistics network and central location. National Association of Realtors reports a steady increase in industrial property values nationwide.

Property address	Total Square Footage	Sale Price	Price Per Square Foot	Capital Improvements (Last What specific strategies did Greenstone Partners employ to maximize the sale price of the industrial property? Transaction Details & Property overview Greenstone Partners recently closed a meaningful deal, facilitating the sale of a 133,800 square foot industrial property located in indianapolis, Indiana, for $10.3 million. The property, situated at 8385 E 30th Street, Indianapolis, IN 46226, is a fully leased, multi-tenant industrial facility. the sale highlights the continued strength and investor interest in the Indianapolis commercial real estate market, particularly within the industrial sector. This transaction underscores Greenstone Partners’ expertise in navigating complex commercial property sales and delivering optimal results for their clients. Indianapolis Industrial market Performance The Indianapolis industrial market has experienced robust growth in recent years, driven by factors such as: * Strategic Location: Indianapolis serves as a major transportation and logistics hub, benefiting from its central location and extensive highway network. * E-commerce Growth: Increased demand for warehousing and distribution space fueled by the expansion of e-commerce. * Manufacturing Activity: A strong manufacturing base contributes to consistent demand for industrial facilities. * Favorable Buisness Climate: Indiana offers a pro-business environment with competitive tax rates and a skilled workforce. Recent data indicates a historically low vacancy rate in the Indianapolis industrial market, coupled with rising rental rates. This dynamic environment makes industrial properties in Indianapolis highly attractive to investors. key metrics to watch include net absorption rates, construction starts, and lease rates across different submarkets within Indianapolis. Greenstone partners’ role in the Transaction greenstone partners acted as the exclusive advisor to the seller in this transaction. their responsibilities included: Property valuation: Conducting a thorough market analysis to determine the optimal pricing strategy. Marketing & Outreach: Developing a targeted marketing campaign to reach qualified investors. Due Diligence Management: Coordinating and managing the due diligence process, ensuring a smooth and efficient transaction. Negotiation: Skillfully negotiating the terms of the sale to achieve the best possible outcome for the seller. Closing support: Providing thorough support throughout the closing process. Greenstone Partners’ deep understanding of the Indianapolis commercial real estate landscape and their extensive network of investors were instrumental in successfully completing this sale. Their expertise in industrial property transactions is a key differentiator in the market. Impact on Commercial Real Estate Dynamics This $10.3 million sale contributes to several key trends in the commercial real estate market: * Increased Investment Volume: The transaction adds to the growing volume of commercial real estate investment in the Indianapolis area. * Price Finding: The sale price provides a benchmark for similar industrial properties in the market, aiding in price discovery. * Investor Confidence: The triumphant completion of the deal demonstrates continued investor confidence in the Indianapolis industrial sector. * Submarket Performance: The location of the property (East 30th Street) highlights the strength of that specific submarket within Indianapolis. Benefits of Investing in Indianapolis Industrial Real Estate Investing in Indianapolis industrial real estate offers several potential benefits: * Strong Rental Growth: The market is experiencing consistent rental rate increases. * High Occupancy Rates: Vacancy rates remain low, ensuring stable cash flow. * Appreciation Potential: The value of industrial properties in Indianapolis is expected to continue to appreciate. * Diversification: Industrial real estate can provide diversification benefits to an investment portfolio. * Long-Term Leases: Industrial tenants often sign long-term leases, providing predictable income streams. Key Considerations for Industrial Property Investors Before investing in Indianapolis industrial real estate, investors should consider the following: * Location: Proximity to major transportation routes and distribution centers is crucial. * Building Condition: Assess the physical condition of the property and potential maintenance costs. * Tenant Quality: Evaluate the creditworthiness and long-term viability of the tenants. * Market Trends: Stay informed about current and projected market trends. * environmental Concerns: Conduct thorough environmental due diligence. Future Outlook for Indianapolis Commercial Real Estate The Indianapolis commercial real estate market is expected to remain strong in the near future. Continued economic growth, coupled with the ongoing demand for industrial space, will likely drive further investment and progress. Monitoring key indicators such as job growth, population growth, and infrastructure improvements will be essential for investors seeking to capitalize on opportunities in this dynamic market. The role of brokers like Greenstone Partners will remain vital in facilitating successful transactions and navigating the complexities of the commercial real estate landscape.