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CoStar News
The owners of a large industrial property in a prime Indianapolis area said they sold the property after filling it with tenants.
The nearly 425,000-square-foot manufacturing building, owned jointly by St. Louis-based Sansone Group and CenterSquare Investment Management of Plymouth Meeting, Pennsylvania, was sold Dec. 9 to an undisclosed buyer. The partners did not reveal the purchase price.
Sansone and CenterSquare acquired the vacant facility at 7520 Georgetown Road in Indianapolis and proceeded to implement what they called a “marketing blitz” to attract tenants to the Park 100 area. Blue Marble Productions, a premium beverage maker, moved into 182,000 square feet last May; a month later DXL, a third-party logistics firm, took 243,000 square feet.
Located northwest of the Indianapolis urban core, Park 100 borders the southern ends of suburban Zionsville and Carmel. Despite a relatively small surface area, the market encompasses some of the region’s largest transportation routes, such as Interstate 65 and Interstate 465, which provide easy access to Indianapolis International Airport, according to CoStar research.
As a result of its prime location, Park 100 has more than 27 million square feet of industrial inventory, which is among the most in a region led by the Plainfield, Indiana, market with 45.4 million square feet, CoStar data shows.
