NorthMarq Brokers $40.7 Million Sale Of Industrial Property In Bedford Indiana Leased To SAIC

The property asset involved in the transaction is an industrial facility located at 3120 16th Street in Bedford, Indiana. The asset comprises 74 acres with a total square footage of 401,474 and was sold for $40,700,000, which calculates to a price per square foot of $101.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $40,700,000
• Square Footage: 401,474
• Address: 3120 16th Street
• Market: Bedford, IN
• Acres: 74

The sale was brokered by Brian Ritchie, Jason Powell, Tyler McCain, and Colin Couch from NorthMarq. The buyer of the property was an institutional investor, and the facility is leased to Science Applications International Corp. (SAIC), which has occupied the site since 2009 and made multiple expansions, including a recent 16,000-square-foot build-to-suit addition.