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Chicago & Midwest  + Illinois  + Midwest  + Industrial  | 

CBRE Arranges $24.5M Sale of Indiana Industrial Building

CBRE negotiated the $24.52 million sale of Park 130 at Whitestown Building 2, a 356,900-square-foot industrial building in Whitestown, Indiana, to a private, high-net-worth buyer at a 5.6% cap rate.

CBRE Investment Properties’ Kevin Foley and Anthony DeLorenzo, along with Andrew Morris and Jeremy Woods, represented the private seller in the transaction. “Private, high-net-worth capital continues to show strong interest in the Indianapolis and Midwest markets, and our team is uniquely positioned to source the capital,” said Foley, first vice president at CBRE.

The building at 5828 Commerce Drive is triple net leased to Maxxis Tires, a global manufacturer of high-quality tires. Completed in 2019, the building is on 21.83 acres within the larger Park 130 at Whitestown. The Class A building features a 32-foot clear height, 42 insulated dock doors, and two drive-in doors. The property is accessible from South Indianapolis Road and minutes from Interstate 65.

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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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