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1M-SF Infill Industrial Portfolio in Indianapolis Sells
Marcus & Millichap completed the sale of a two-property industrial portfolio located in Princeville, Illinois, and Lafayette, Indiana. The portfolio sold for $4 million.
“This transaction highlights a growing trend of cross-sector investment,” said Peter Doughty, managing director of investments. “The buyer, a seasoned multifamily investor completing a 1031 exchange, saw this as an opportunity to diversify into the industrial sector.”
Doughty and Brandon Houghtaling, investment specialists in Marcus & Millichap’s Chicago Downtown office, in association with Josh Caruana, the firm’s Indiana broker of record, had the exclusive listing to market the properties on behalf of the seller. Dan Yozwiak and Darpan Patel, of the firm’s Columbus and Tampa offices, procured the buyer.
The portfolio includes a 51,000-square-foot industrial facility at 610 S. Walnut St. in Princeville and a 38,700-square-foot facility at 3517 Crouch St. in Lafayette. Both properties are fully leased to FCA Packaging, a national provider of heavy-duty industrial packaging solutions for global OEMs.
