A commercial real estate package consisting of eight warehouses and 42 acres of land in the Indianapolis area has been acquired in a deal estimated to be worth more than $144 million.
OVB Indianapolis Industrial LLC—a joint venture of Minneapolis-based private equity firm Biynah Industrial Partners LLC and Minneapolis-based venture capital firm Olympus Ventures LLC—bought the properties from TDC Properties, a real estate investment firm from Marina Del Rey, Calif.
Terms of the deal, announced Tuesday, weren’t disclosed, but real estate sources estimated a selling price of $38 per square foot, or $144.4 million, for the eight buildings alone.
Four of buildings are in Airwest Industrial Park in Plainfield. Two other buildings and the land site are in AmeriPlex, on the southwest side in Indianapolis.
Another building is on South Girls School Road near the Indianapolis International Airport. The eighth warehouse is in Brownsburg.
Most of the buildings are occupied, but 216,600 square feet at 7452 Tempelhof Drive in Ameriplex is immediately available. Another 315,000-square-foot space will be available on May 1 at 3100 Reeves Road in Plainfield.
Cushman & Wakefield’s team of Senior Managing Director Michael Weishaar and Associate Scott O’Neil have been hired to provide leasing services for the properties.