January 14, 2020
Transwestern Investment Group (TIG) sold a 519,056-square-foot industrial property in Indianapolis to Founders Properties. The sales price was not disclosed.
TIG acquired the property in 2014 on behalf of Acento Real Estate Partners, as part of a two-million-square-foot portfolio acquisition. The sale represented the final disposition in the portfolio, the majority of which had previously sold in May 2019.
“Previously occupied by Federal-Mogul, this building presented an opportunity to acquire a value-add investment in Park 100, the preferred infill submarket of Indianapolis,” said Richard Yeh, managing director at TIG. “The sale is indicative of the robust demand for industrial product across the country.”
Michael Caprile, Ryan Bain and Zachary Graham of CBRE provided disposition services.
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