Marcus & Millichap Arranges Sale of Hillsdale Industrial Property

Marcus & Millichap announced the sale of 222 Broadway Avenue, a 50,000-square-foot industrial warehouse in Hillsdale, Indiana.

Originally offered with 9 acres, the buyer elected to purchase the entire 32.6-acre parcel. The property sold for $4.375 million, or $87.50 per square foot. “We sourced several out-of-state and foreign companies seeking to expand operations to our great state of Indiana,” said Julia Evinger, managing director of investments. Evinger, an industrial investment specialist in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, Garmong Development Company, LLC.

Vermillion Rise Mega Park is located along the Indiana-Illinois border on Indiana 63, a four-lane divided highway with easy access to Interstate 74 and Interstate 70, making it an ideal location for companies needing interstate access for distribution.” The subject industrial property is situated on 32.6 acres within the 7,155-acre Vermillion Rise Mega Park, home to a growing base of logistics, manufacturing and industrial users.