Alex Cantu, Brian Zurawski and Alex Davenport with Colliers International of Indianapolis facilitated the transaction on behalf of the seller, Brybelly. The asset was purchased by Exeter Property Group, a real estate investment management firm focused on industrial properties across North America and Europe.
The Property, originally developed in 2016, sits on 26.29 acres within the Alliance Interstate Park in the desirable Mt. Comfort area just east of Indianapolis. It is 100% leased to Brybelly Holdings, Inc., a drop ship provider and wholesale company serving a diverse range of industries. Upon completion of the building expansion, Brybelly will commence a new 10-year triple net lease for the entire 386,000 square foot facility.
“We are extremely excited to increase our investment in the East Indianapolis Modern Bulk submarket with the purchase of Building 115. The acquisition continues to improve the quality of our holdings in Indianapolis and we are excited to participate in the increasing demand of space from users in the Mt. Comfort submarket” commented Andy Brown, Vice President of Exeter Property Group on the recent acquisition.
Exeter Property Group is headquartered in Conshohocken, PA. The Mount Comfort Building 115 acquisition brings Exeter’s Indianapolis market holdings to over 11.2M square feet, the second largest owner of Industrial real estate in the market.