Plymouth Industrial REIT Purchases 10 Properties in Indianapolis for $62M

INDIANAPOLIS — Plymouth Industrial REIT Inc. has purchased 10 industrial buildings totaling 2.1 million square feet in Indianapolis for $62 million. Included in the portfolio is Shadeland Commerce Center, a nine-building property totaling approximately 1.7 million square feet. It is 95 percent leased to 26 tenants, including Penske, ABC Supply Co., PPG Industries and Ryder. Plymouth also acquired 7901 W. 21st St., a 353,000-square-foot building that is fully leased to Iron Mountain and Venture Logistics. The seller information was not disclosed. Plymouth is a publicly traded REIT focused on the acquisition and operation of industrial properties located largely in secondary markets across the United States. John Huguenard, Sean Devaney, Brian Seitz and Brian Buschuk of JLL represented the seller of Shadeland Commerce Center.