Jones Lang LaSalle Americas, Inc. (“JLL”) has been exclusively retained to offer for sale the fee-simple interest in Metro Air 8 & 9 (the “Portfolio” or the “Offering"), comprised of two (2) Class A buildings totaling 977,625 square feet in the Plainfield submarket of Indianapolis. Strategically located one (1) mile from the Indianapolis International Airport as well as the 320-acre FedEx Air Hub, the Portfolio anchors the most desirable location in the Hendricks County (Plainfield) submarket, perched immediately off the Ronald Reagan Pkwy. and I-70 interchange. The FedEx Air Hub is the second largest of its kind in the U.S. and has transformed the submarket into a 65.9 million square foot distribution base that is one of the most coveted and proven logistics locations in the Central U.S. for both users and institutional investors. Metro Air 8 & 9 is currently 100.0% leased to three (3) publicly traded and investment grade tenants, providing investors with durable in-place cash flow and 3.9 years of weighted average remaining lease term. Additionally, in-place rents across the Portfolio are currently 40%+ below market, allowing investors the potential to harvest additional upside in the near-term by marking these rents to prevailing market levels. Delivered in 2020, with a 252,747 square foot expansion to Metro Air 9 in 2022, the Offering represents the opportunity to acquire 977,625 total square feet across two (2) modern, Class A facilities in one of the best bulk distribution submarkets in the country.
- Main & main location in Indianapolis' premier industrial park
- Strategic infill logistics location
- Record-breaking fundamentals in Indianapolis' premier submarket
- Excellent labor profile