Colliers International closed the sale of Velocity 70 Trade Center Building 4 just east of Indianapolis in Mount Comfort, Indiana.
The 440,000-square-foot building wil be developed on a speculative basis and feature a 36-foot clear height, LED lighting, a TPO energy efficient roofing system, 205 auto parking spaces, 56 trailer staging spaces and 32 dock positions.
Alex Cantu, head of investment sales with Colliers International of Indianapolis, facilitated the transaction. The 27.98-acre site was purchased by Cabot Properties, a real estate investor, developer and operator in Boston.
Browning Construction has been hired to begin construction immediately, with delivery of the completed product scheduled for the spring of 2019.
Velocity 70 is a logistics park in Hancock County, Indiana. Building 4 will joine three existing facilities that house tenants including Smithfield Foods, Spectra Premium Corp. and Atkins Nutritionals.
Jason Speckman and Brian Zurawski of Colliers Indianapolis will lease the facility for Cabot.