https://www.bizjournals.com/st…
Jul 22, 2019
Clayton-based real estate company Sansone Group has acquired a 424,849-square-foot industrial park in Indianapolis, further growing the firm’s out-of-market portfolio. Terms of the deal were not disclosed.
Sansone partnered with real estate asset manager CenterSquare Management in the deal, which closed July 17, according to a release. Duke Secured Financing 2009-1ALZ LLC was the seller of the park, located at 7520 Georgetown Road. Sansone will take over management of the property.
“Acquisition has become a major focus for our company,” said Principal Nick Sansone. “Over the last few years, we have purchased 11 properties totaling 2.2 million square feet and approximately $300 million in total value. We are pleased to have our first deal completed with CenterSquare, a global real estate investment manager with $10 billion in assets under management, which brings deep experience and expertise in the industrial space.”
Vince Bajardi and Jake Corrigan sourced the deal and brokered the acquisition for Sansone Group and CenterSquare. Duke handled its sale.
The Indianapolis property is part of a 40 million-square-foot master planned industrial park that is 98% occupied. Space is available and Newmark Knight Frank is managing the leasing with Sansone handling brokerage.
As part of the deal, Sansone has hired Jeff Greenwalt who will help the company expand its industrial portfolio in the Midwest and on the East Coast.
The latest deal is another sign of Sansone’s changing strategy with a greater focus on properties outside of the St. Louis market. In March, the company made a $24 million deal for a Class A industrial building in Nashville.
