Hines, a global real estate investment, development, and property manager, in partnership with Cresset Partners, sold the first phase of Whiteland 65 Logistics Center, a 1.1-million-square-foot Class-A industrial facility in Whiteland, Indianapolis.
This marks Hines’ largest industrial deal in the Midwest, as well as the biggest single-building industrial sale this year in Indianapolis. Hines and Cresset Partners acquired the 90-acre site in June of 2021 and completed the new construction development last month.
The new facility includes 40-foot clear heights, 108 dock doors, 690 auto parking spaces and 291 trailer parking spaces. The site is strategically located off Interstate 65 and Whiteland Road and is less than 30 miles from Indianapolis International Airport.
Hines and Cresset plan to break ground on a second phase next year, which will consist of a 712,000-square-foot building and a 160,000-square-foot building.
Colliers’ Cam Kucic represented the buyer and Cushman and Wakefield’s Luke Wessel and Michael Weishaar represented the seller.