Greenstone Partners Brokers $4.8 Million Sale Of Industrial Property In Indianapolis

The property asset involved in the transaction is a fully leased, 60,000-square-foot shallow-bay industrial building located at 450 South Kitley Avenue in Indianapolis, IN. It was sold for $4,800,000, translating to a price per square foot of $80.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $4,800,000
• Address: 450 South Kitley Avenue
• Market: Indianapolis, IN
• Square Footage: 60,000
• Price Per Square Foot: $80
• Broker: Jason St. John - Greenstone Partners

Greenstone Partners facilitated the sale, highlighting the two-tenant structure of the property, which presents potential revenue growth as both tenants are currently on below-market rents. This aspect of the deal indicates an opportunity for increased financial performance upon lease renewal.