CBRE arranged the $12.75 million one-year sale-leaseback of a three-property portfolio in Indianapolis to a private high-net-worth investor for $258 a square foot.
CBRE Investment Properties’ Kevin Foley, Austin Wolitarsky, Anthony DeLorenzo and Bryan Johnson, along with JD Graves and Sarah Greer, represented the seller, Sodrel Truck Lines Inc., in the transaction.
Located on 14.99 acres at 1220, 1254 and 1310 South West Street, the portfolio comprises three buildings and a truck and trailer lot. Sodrel Truck Lines will lease back all three properties for at least one year, as well as the truck and trailer parking lot.
1310 South West Street is home to a truck terminal building totaling 25,856 sq. ft. The building features 70 dock-height doors and four drive-in doors, as well as five driver rest suites, a driver lounge, an exercise facility, and a service garage.
The two buildings at 1254 South West Street feature one truck maintenance building (19,180 sq. ft.) and a truck wash and fueling building (4,358 sq. ft.). The last parcel features a 6.1-acre paved and fenced truck and trailer lot at 1220 South West Street. The site houses over 180 trailers.
The property’s strategic location south of Interstate 70 (I-70) provides immediate access to some of the biggest Midwest distribution routes off I-70, I-465, and I-65.
