CBRE Announces $13.4 Million Sale of Building 4 Within Mount Comfort Logistics Center in Greenfield, Indiana to Private 1031 Buyer

CBRE has arranged the sale of Building 4 within Mount Comfort Logistics Center, a 318-acre, master-planned Class-A logistics park in Greenfield, Indiana, to a private California 1031 buyer for $13.4 million.

Kevin Foley with CBRE Investment Properties and Jared Scaringe represented the seller Ambrose Property Group, in the transaction. The buyer was represented by Gary Stache, Chris Martin and Bill Maher, also with CBRE Investment Properties.

Located at 4308 W. 300 N in Mount Comfort Logistics Center, Building 4 is a 120,336 sq. ft. build-to-suit warehouse for U.S. AutoForce, a wholesale automotive tires, parts, and lubricants distributor. Situated on 18.9 acres, the warehouse delivered in 2021 and features 30’ clear height, 22 dock doors, two drive-in doors and ample car and trailer parking.

“The private buyer was in a 1031 exchange and closed this transaction in 31 days,” said CBRE’s Foley. “California capital continues to show strong interest in the Indianapolis/Midwest markets and our team is uniquely positioned to source that capital. Amongst this capital, we’ve identified a growing number of investors who, as they trade out of their older inferior products, prefer brand-new stabilized bulk buildings with credit and term, as well as assets that require minimal management responsibilities. Indianapolis’ industrial fundamentals remain strong, and this type of capital will continue to flow here.”

Mount Comfort Logistics Center offers direct access to Interstate 70, providing connectivity to Interstate 465 Beltway and all major interstates throughout Indianapolis. It is estimated that over 797,000 people live within a 15-mile radius of the park.

The park is in the East submarket of Indianapolis, which recorded over 2.27 million square feet of net absorptions in the second quarter of 2023, accounting for over one-third of the market’s total net absorption.