Shadeland Industrial Park

Jones Lang LaSalle (“JLL”), as exclusive advisor to ownership, has been retained to market for sale the fee-simple interest in the Shadeland Industrial Park (the “Portfolio”, the “Properties”, or the “Offering”), a three (3) building shallow-bay industrial portfolio totaling 198,000 square feet located within city limits of Indianapolis, IN. The Portfolio is 100% occupied with 4 individual leases boasting accretive contractual rent growth nearly 3.0% annually across 2 committed tenants with an extensive weighted average tenure over 11 years. Additionally, the Properties offer significant mark-to-market upside driven by the ability to convert base-year recoveries to market NNN rents as like-kind shallow-bay product continues to drive higher rents than the broader industrial sector.

The Shadeland Industrial Park is strategically positioned just off Indianapolis's primary beltway offering its tenants excellent local connectivity to a surrounding population over 1.7 million people with immediate exposure to some of Indianapolis's most affluent suburbs including Carmel, Fishers, and Westfield within just a 25-minute drive. Furthermore, the Portfolio has a dense labor supply with 28% of workers within a 5-mile radius considered "blue-collar". The Offering represents a unique opportunity to acquire functional, shallow-bay industrial product at a competitive basis well-below replacement cost in a high-barrier to entry submarket of Indianapolis backed by 4.0-years of WALT remaining, contractual income growth and upside potential in rents upon roll.

Brian Buschuk: RB14034399