Hillwood Buys Four Industrial Assets Totaling 1.1 MSF in Indianapolis
INDIANAPOLIS — Hillwood has purchased a four-property industrial portfolio in Indianapolis that contains a total of 1.1 million square feet. The purchase price was not disclosed.
The Class A portfolio contains the 448,305-square-foot Airwest 12 and the 476,225-square-foot Airwest 14 at 2301 and 2201 Reeves Road (respectively) in Plainfield, as well as the Company Drive Commerce Center in Indianapolis. The Company Drive Commerce Center comprises two buildings featuring 60,480 square feet and 100,800 square feet.
“We are proud to expand our footprint in the thriving Indianapolis market,” says Tom Fishman, executive vice president of acquisitions and dispositions for Hillwood. “These acquisitions are consistent with our strategy to acquire and develop high-quality, functional industrial real estate in major U.S. markets.”
The Airwest properties were built in 2015. They contain modern, flow-through cross dock designs with 36-foot clear heights, deep truck courts and car and trailer parking. Airwest 12 and 14 are situated off Interstate 70, providing access to interstates 465, 65 and 74 in the southwest industrial submarket. These routes access Chicago, Columbus, Cincinnati, Louisville and St. Louis. They also position the Airwest properties within a single day’s drive to more than half of the U.S. and Canadian population.
The Company Drive Commerce Center buildings are two rear-load, multi-tenant light industrial buildings that were developed in 2008 in the southeast industrial submarket. Building amenities include 24-foot and 28-foot clear height, 130-foot truck courts, car parking and an additional 1.2 acres of developable land. This provides flexibility for tenants ranging from 30,000 square feet to 100,000 square feet. Company Drive has access to Interstate 65, and is eight miles south of downtown Indianapolis.
“Indianapolis has proven to be a great industrial market,” says Don Schoenheider, Hillwood’s senior vice president and Midwest market leader. “With the addition of these properties, we can provide multiple prime location options for companies looking for 30,000 square feet to 950,000 square feet of Class A distribution space.”
Dallas-headquartered Hillwood, a Perot company, acquires and develops industrial properties across North America and Europe.
— Nellie Day