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Chicago & Midwest  + Midwest  + Industrial  |  June 15, 2026
Jasmine Kilman
By: Jasmine Kilman

CBRE Arranges Sale of Newly Renovated 113K-SF Indiana Industrial Property

CBRE has arranged the sale of a 112,862-square-foot industrial property located at 3701 S. Main Street in Elkhart, Indiana.

Vault Equity Partners purchased the property from Industrial Commercial Properties (ICP). CBRE’s Will Roberts, Steve Timmel and Chris Deutscher represented the seller in the transaction.

“This was a unique opportunity given the asset was a former JCPenney’s retail location that was fully renovated and converted into a highly functional distribution facility,” said Roberts. “The sale also shows the continued strength of investor demand for quality single-tenant industrial assets throughout the Midwest.”

ICP redeveloped the former Concord Mall into Concord Business Park through a full interior demolition, increased clear heights, and the addition of loading docks and drive-in doors, including converting the former JCPenney into a freestanding industrial facility now occupied by LEER Group. The property was 100% leased at the time of the sale.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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