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241K-SF Lease Brings Indy Warehouse to Full Occupancy

Newmark Knight Frank arranged a 241,043-square-foot industrial lease to DXL 3pl LLC at 7520 Georgetown Rd. in Indianapolis. This lease marks full occupancy for the industrial property and the successful repositioning from a single- to multi-tenant asset.

NKF’s Conrad Jacobs and Matt Kiger represented landlord Sansone Group and CenterSquare, in the leases for both DXL 3pl and the property’s other tenant, Blue Marble Cocktails, which signed for 181,835 square feet earlier this year.

Jacobs and Kiger also arranged the July 2019 acquisition of the property. DXL 3pl was represented by ALO Property Group and Blue Marble Cocktails was represented by JLL.

“From the beginning, before the building purchase, we realized the building could be easily repositioned as a two-tenant space to suit the needs of smaller tenants in the market,” said Jacobs. “The end result was a fully-occupied building within a year of purchase with both tenants on long-term leases.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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