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Industrial Property Near Indianapolis Airport Changes Hands
Marcus & Millichap completed the sale of 7770 W. New York St., a 16,000-square-foot single-tenant industrial property in Indianapolis.
Located near the Indianapolis International Airport, the property sold for $2.1 million to Greenspring Realty Partners. “This transaction highlights the continued strength of Indianapolis’ industrial market, particularly in this highly desirable airport-area submarket,” said Gus Poulos, associate director of investments.
Built in 1994, the property spans 2.20 acres and is occupied by Terracon Consultants, an employee-owned firm that provides environmental consulting, geotechnical engineering, construction materials testing and facility engineering services.
“We were able to bring the seller and out-of-state buyer together and closed the deal in cash just 29 days after signing our representation agreement,” said Bender, managing director investments. “The product type and market speak for themselves when it comes to Indianapolis industrial real estate.” Poulos and Forest Bender, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the private in-state seller.
