JLL Capital Markets has closed the $114 million sale of ConAgra Distribution Center, a 1.5 million-square-foot, Class-A bulk regional distribution center triple net leased to ConAgra Brands in the Indianapolis-area community of Frankfort, Indiana.
JLL marketed the property on behalf of the seller, Founders Properties, L.L.C. W. P. Carey purchased the asset.
The facility was completed in 2015 as a build-to-suit industrial facility for ConAgra, the 11th-largest food and beverage maker in the United States. The building has 10 rail docks serviced by CXS and Norfolk Southern and features a 34-foot clear height, 100 percent concrete truck courts, 125 dock-high doors plus 125 knockouts, four drive-in doors, 853 trailer parking stalls, ESFR fire protection, LED lighting and low office finish.
Situated on 180 acres at 3500 W. County Rd O NS in Frankfort, the facility is 41 miles from Indianapolis and in a critical, centralized Midwest location that allows the tenant to reach half of America’s major population centers within a 24-hour drive from the Indiana border. The distribution center is also 5.2 miles from Interstate 65, one of the major north-south interstates that goes from Chicago to the Gulf Coast in Alabama.
The JLL Industrial Capital Markets team representing the seller
s is led by Senior Managing Director John Huguenard and Senior Director Kurt Sarbaugh.