Avison Young has negotiated the sale of three buildings totaling 878,410 square feet in the Indianapolis market. The largest building (530,400 square feet) is fully leased to the largest global ecommerce company; the other facilities (168,480 square feet and 179,530 square feet) are fully leased to a global packing company.
The buildings are in the 2.4-million-square-foot Master Planned Whiteland Exchange Business Park, located at I-65 and Whiteland Road in Whiteland, Indiana.
Jones Development, the seller, was represented by Avison Young’s Erik Foster and Mike Wilson, Principals and members of the U.S. industrial capital markets team in the firm’s Chicago office. The team worked in conjunction with Sean McHale, Principal, and Senior Associate Peter Seoane, both in the firm’s Indianapolis office. The Indianapolis team was the exclusive leasing agent for Whiteland Exchange.
The buyer was Lexington Realty Trust.
Whiteland Exchange was designed to provide Central Indiana with investment grade industrial space for lease, sale and build-to-suit opportunities. The development is along the I-65 distribution corridor in Johnson County, which has experienced strong industrial demand and absorption over the past several years. The county is the 5th fastest growing county in Indiana and has a strong labor force within a 30-mile radius of this development.