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2-Mil-SF Industrial Package Closes in Indy

INDIANAPOLIS-A nine-building industrial portfolio here, primarily in the premier Park 100 Industrial Park, is sold to Times Square Real Estate Investors. The seller, a REIT, had been seeking $74.4 million.

By Mark Ruda | Updated on June 14, 2001

INDIANAPOLIS-A nine-building, 2.01-million-sf industrial portfolio here has sold to Times Square Real Estate Investors. Although the purchase price was not disclosed, the properties had been offered for $74.4 million, making it one of the largest institutional-quality industrial deals in the US this year, brokers involved in the transaction say.

Eight of the nine properties totaling 1.8 million sf are the Park 100 Industrial Park. The ninth, a 227,000-sf building, is in Lebanon Business Park in Lebanon, IN.

Transwestern Commercial Services managing director Gary Nussbaum represented the seller, a REIT, along with John Huguenard, SIOR, CCIM, principal/vice president of Colliers Turley Martin Tucker, who closed $144 million in transactions in 2000.

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