Stan Johnson Company Brokers Sale of Indianapolis Manufacturing Facility for $7.3 Million in 1031 Exchange

New York, New York, June 5, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a single-tenant industrial facility in Indianapolis, Indiana leased to EnerDel. The 95,940-square-foot, Class A manufacturing building is located at 8740 Hague Road.

The property was purchased in a 1031 exchange by a West Coast-based individual investor for $7.3 million in mid-April 2019. The buyer was represented by Stan Johnson Company’s James Ullrich and Michael J. Macchia.

“The EnerDel building represented an exciting acquisition opportunity on multiple fronts, with its location being paramount,” said Ullrich, Director in Stan Johnson Company’s New York office. “Indianapolis is a compelling market and has traditionally been a manufacturing and logistics town, but now, the city is leveraging its existing employment base into tech-focused growth, with big names like Salesforce and Angie’s List maintaining a large presence in the market. EnerDel, which manufactures high-tech lithium ion batteries for the renewable energy industry, seems to be a natural fit in the market.”

The property was sold by Lakewood, New Jersey-based Sapphire Investment Group. The seller was represented by Tom Georges, Director in Stan Johnson Company’s New York office.

 

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About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.