Distribution building sells for $28.5 million

Pennsylvania-based Exeter Property Group has acquired a 604,000-square-foot speculative industrial property at the Fishback Creek Business Park in Whitestown for $28.5 million.

The firm bought the building, known as Fishback 4, in July from INDHLAND LLC. It is one of two buildings in the 2.5-million-square-foot industrial park available for lease. A 1-million-square-foot speculative building, which is expandable to 1.26 million square feet, is also available.

Fishback 2 is a 410,000-square-foot building owned by an unidentified logistics company, and Fishback 3, with 455,000 square feet, is a build-to-suit project for a beverage distributor. Each of the four properties carries a 10-year tax abatement.

Terry Busch and Jared Scaringe, brokers with the Indianapolis office of CBRE, brokered the deal for the seller.•

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