CBRE has arranged the sale of I-65 Indianapolis Logistics Center South, a newly constructed 954,370-square-foot modern distribution facility in Franklin, Indiana, along with a subsequent full-building lease for an undisclosed third-party logistics company.
Andrew Morris and Jeremy Woods of CBRE represented the unnamed seller in the sale of the property to a partnership between Northern Virginia-based Legacy Investing, LLC and an affiliate of New York City-based investment manager, Axonic Capital LLC. CBRE also represented Legacy and Axonic in the lease to the unnamed tenant.
I-65 Indianapolis Logistics Center South is positioned in the South submarket of Indianapolis in the I-65 Corridor, offering connectivity to the UPS Worldport in Louisville and the FedEx Express Indianapolis Hub at Indianapolis International Airport.
The Indianapolis industrial market registered 2.1 million square feet of positive net absorption during the first quarter of 2022, marking the 46th consecutive quarter of positive net absorption, according to CBRE Research. The South submarket had positive net absorption of 991,710 square feet and has over 5.9 million square feet in its construction pipeline.
