Marcus & Millichap Brokers Sale Of 51,989 Square Feet Industrial Property In Indianapolis For $6.68M

The property asset involved in the transaction is a 51,989-square-foot, single-tenant industrial building located at 3823 East Massachusetts Avenue in Indianapolis, IN. The sale was concluded for $6,675,000, with a price per square foot of $128. The site spans 5.6 acres and features a tenant net-leased to Service Electric Company, a subsidiary of Quanta Services, following renovations in 2022.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $6,675,000
• Square Footage: 51,989
• Address: 3823 East Massachusetts Avenue
• Market: Indianapolis, IN
• Acres: 5.6
• Price per Square Foot: $128

Gus Poulos, Forest Bender, and Joseph DiSalvo from Marcus & Millichap represented a local seller and an out-of-market buyer in this transaction. The involvement of these brokers highlights their role in facilitating the deal and connecting the parties for a successful sale.