Coastal Investors Trade Indy Industrial

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.