What is the story about?
What's Happening?
CBRE has successfully arranged the sale of Park 130 Building 5, a 235,840-square-foot industrial property located at 6353 Commerce Drive in Whitestown, Indiana. The property was acquired by a private, high-net-worth buyer from California for $25.35 million in an all-cash transaction. The sale was managed by CBRE representatives Kevin Foley, Austin Wolitarsky, Anthony DeLorenzo, Andrew Morris, and Jeremy Woods, who represented the private seller. The property is fully leased to three tenants: Charles Industries, Canature WaterGroup U.S.A., and Weaver Popcorn Manufacturing, which subleases its space to BMWC Constructors, Inc. The site is strategically located on a 12.6-acre lot in the Northwest Indianapolis submarket, offering direct access to major transportation routes, including Interstate 65.
Why It's Important?
This transaction highlights the ongoing demand for industrial real estate in strategic locations, driven by the need for efficient logistics and distribution networks. The sale underscores the attractiveness of the Indianapolis submarket for investors seeking stable, income-generating assets. The fully leased status of the property indicates strong tenant demand and the potential for steady cash flow, making it a valuable acquisition for the buyer. The involvement of CBRE, a leading real estate services firm, further emphasizes the significance of professional brokerage services in facilitating high-value transactions in the commercial real estate sector.
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