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Transpacific Acquires 793,000 SF in Indy

PLAINFIELD, IN-After entering the Indianapolis market last December, the California company now owns eight distribution buildings totaling 3.5 million sf.

By Danielle Anderson | Updated on December 07, 2006

(To read more on the industrial market, click here.)

PLAINFIELD, IN-Transpacific Development Co., a California company with plans to buy five million sf of distribution space in 2007, has purchased two fully leased buildings near the Indianapolis International Airport for more than $37 million. The recent 793,000-sf acquisition of 1100 and 1101 Whitaker Rd. brings Transpacific’s Indianapolis distribution portfolio to eight buildings totaling 3.5 million sf. The company, which entered the Indianapolis market last December, has increasingly sought properties outside of California, its primary market for decades.

John Huguenard, a senior vice president with Colliers Turley Martin Tucker, tells GlobeSt.com that 1100 and 1101 Whitaker Rd. drew nearly a dozen offers from potential buyers. The two buildings, which were built in the late 1990s, are leased to OH Logistics, a Nashville-based third-party logistics company. Approximately seven years remain on OH Logistics’ 15-year lease, according to Huguenard. Located near the Six Points intersection off Interstate 70, the buildings feature 32-foot clear heights and ESFR sprinklers. The 414,000-sf 1100 Whitaker Rd. is situated on 17.7 acres, and the 379,000-sf 1101 Whitaker Rd. is built on 16.7 acres.

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