Gramercy Capital Corp., a New York-based REIT, acquired two industrial properties in the Indianapolis market that total 539,200 square feet. These properties were sold for $27 million, or about $50 per square foot.
The larger property is about 294,000 square feet and is located at 900 Commerce Parkway Dr. W. in Greenwood, IN. The second property is about 245,200 square feet and is located at 6825 W. County Road 400 N. in Greenfield, IN.
Jason Speckman of Summit Realty Group represented the buyer.
Please see CoStar COMPS #2608265 for more information on this transaction.