September 10, 2019
New York City-based Time Equities Inc. (TEI) acquired Brookside Industrial Park, a 303,764-square-foot, Class B industrial mega-complex in Indianapolis. TEI paid $6.9 million to purchase the 10-building, 33.95-acre complex from a private seller group that will deliver it 90% occupied.
TEI has been active across the Midwest, completing multiple acquisitions in the past five years. The firm’s Brian Soto, Max Pastor and Raymond Cazis served as the acquisition and asset managers. Marcus & Millichap’s Julia Evinger and Damien Yoder brokered the transaction on behalf of the seller.
“We generated 11 offers in the first week of the property coming to market,” said Evinger. “The seller chose Time Equities, because of the firm’s experience with this type of flex industrial asset. Additionally, despite being headquartered in New York, TEI is intimately familiar with this market and there’s great confidence that they will take this asset to the next level.”
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