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.