INDIANAPOLIS—Secondary markets have been surging recently, and as a focal point for US distributors, the Indianapolis region has been attracting attention from national investors for several years. The Los Angeles-based Industrial Realty Group, a real estate development and investment firm, just became the latest company to seek out the type yields available in this metro area. It purchased a 286,555 square-foot distribution facility at 751 International Dr. in suburban Franklin for an undisclosed amount.
Erik Foster and Mike Wilson of Avison Young's national industrial capital markets group represented the owners, New Boston Fund, Inc., a Boston-based private equity real estate investment, development and management firm.
“This is a great opportunity for the new buyer to acquire a fully leased building with strong tenancy in the Indianapolis market,” says Foster. “Indianapolis is one of the best logistics markets in the country and continues to draw investors seeking strong yields and long term stability.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
