Alex Cantu and Alex Davenport with Colliers in Indianapolis facilitated the transaction on behalf of the seller, Oak Ridge Road LLC, an affiliate of Carmel-based Jackson Development LLC. The asset was purchased by Sealy & Company, a private industrial real estate investment firm based in Dallas, Texas.
The state-of-the-art modern bulk facility was constructed by The Peterson Company in 2018. It is 100% occupied by a variety of distribution and high-tech manufacturing tenants, with Aptiv (NYSE:APTV) leasing 40% of the asset. Other tenants include Grinds LLC, ETI Fab and 3rd Dimension Industrial Printing. The rear-load distribution facility features 28-foot clear ceiling heights, flexible tenant spaces, and significant parking.