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Indy Industrial Sales Rise 46% Y-O-Y
The Indianapolis industrial market posted a 45.7% year-over-year increase in sales through the second quarter, says Avison Young. As Q3 2019 nears a close, there are an additional seven industrial sales totaling $101.2 million in the pipeline.
Sales over the 12-month time span reached $1.4 billion across 23.6 million square feet. Year to date in 2019, REITs have represented a clear majority of the region’s industrial buyers, accounting for 59.4% of the acquisitions, according to Avison Young research.
Conversely, REITs comprised just 5.3% of sellers during that time frame. Institutional owners comprised 47.6% of the sellers, and accounted for 18.2% of the acquisition volume.
“The Indianapolis market continues to outperform many other industrial markets in the country due to its centralized location and superior distribution network,” said Erik Foster, an Avison Young principal and leader of the firm’s national industrial capital markets group.
Pictured: 790 W. 21st in Indianapolis, currently for sale.
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