CBRE Brokers $5.3M Sale Of Industrial Property To California 1031 Exchange Buyer In Bremen IN

An industrial property located at 833 Legner Street in Bremen, IN was sold for $5,300,000. The asset encompasses a total of 142,914 square feet and is situated on 9.68 acres. The facility features 16 grade-level doors and has clear heights ranging from 12 to 24 feet. At the time of sale, the building was fully leased to Patrick Industries with 6.25 years remaining on the lease.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $5,300,000
• Square Footage: 142,914 SF
• Address: 833 Legner Street
• Market: Bremen, IN
• Price Per Square Foot: $37
• Lease Terms: Fully leased to Patrick Industries
• Remaining Lease Duration: 6.25 years
• Acres: 9.68
• Grade-Level Doors: 16
• Clear Heights: 12–24 ft

CBRE facilitated the transaction through brokers Kevin Foley, Austin Wolitarsky, Anthony DeLorenzo, and Terry Busch. The buyer was a California-based 1031 Exchange investor, indicating a strategic acquisition to defer tax liabilities on investment gains.