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Time Equities Acquires 55K-SF Industrial Warehouse in Indianapolis
Time Equities, Inc., has acquired 1840 Midwest Boulevard, a 55,000-square-foot industrial warehouse in Indianapolis, Indiana, for $3.275 million. Anchored by R&R Plumbing, a Berkshire Hathaway affiliate, the building is 94 percent leased. The property is located in northwest Indianapolis, approximately 11 miles north of Indianapolis International Airport and five miles from the Indianapolis Motor Speedway.
The TEI Investment Team, led by Max Pastor and Brian Soto, director of acquisitions and asset management at TEI, originated and executed the acquisition. The seller was represented by Brian Dell with Colliers Indianapolis, and TEI was also represented by Tony Hupp and Ryan Kelly of Colliers Indianapolis. Hupp and Kelly will also be responsible for leasing the property on behalf of TEI.
“The purchase of 1840 Midwest presented TEI with an excellent opportunity to acquire a versatile asset with practical attributes for light manufacturers, local distributors and other shallow-bay users in a dynamic industrial location,” said Max Pastor, executive vice president of TEI.
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