Atlanta-based firm increases Indiana footprint to more than one million square feet
MDH Partners today announces the acquisition of Park 100 Building 71, a 193,348-square-foot industrial facility located in Indianapolis. Houston Hawley served as the acquisition lead for MDH Partners. Alex Cantu and Alex Davenport with Colliers represented the seller.
“Located within the most important infill industrial business park in Indianapolis, Park 100 Building 71 is a meticulously maintained asset meeting strong demand in a supply constrained submarket,” said Hawley, VP of Acquisitions at MDH Partners. “With a highly educated and productive workforce, strategic geographical location and transportation support systems, Building 71 is an extremely attractive acquisition for us as we continue our Midwest expansion.”
Constructed in 1988, Park 100 Building 71 is situated on 9.06 acres and is located at 5220-5250 W 76th St. The industrial facility features 24 foot clear heights, 26 exterior dock doors and 90 car parking spaces. Park 100 Building 71 is ideally positioned less than two miles east of an access point to I-465, less than three miles north of an access point to I-65 and only 20 minutes north of the Indianapolis International Airport. The area is highly desirable for manufacturing and distribution users with 80% of the U.S. population within a one-day drive, creating a distribution point for the Eastern United States. Additionally, Indiana is home to the only U.S. statewide port system that provides international connections via the Great Lakes and Ohio-Mississippi River system.
Park 100 Building 71 is 87% leased to three tenants, including DB Schenker, a leader in supply chain management and logistics solutions; Watkins & Shepard Trucking Inc., a truckload, less-than-truckload (LTL) and flatbed services company; and MKM Distribution Service, a logistics, e-commerce fulfillment and custom distributor. The facility is located in the Northwest submarket of the Indianapolis industrial real estate market. According to Colliers, the Indianapolis industrial market saw 3.2 million square feet of space absorbed in the first quarter of 2022, the strongest first quarter since 2016. The Northwest submarket is comprised of 70.8 million square feet, making it the second largest submarket in the Indianapolis metro.
The purchase of Park 100 Building 71 increases MDH Partners’ Indiana footprint to more than one million square feet. In March 2022, the firm acquired its first Indiana property, Franklin Tech Park, a 808,505-square-foot, Class-A industrial facility in Franklin, Indiana. MDH Partners has remained very active this year, acquiring nearly five million square feet of industrial assets throughout the U.S. since last January. The firm recently expanded its portfolio into new markets including California, Minnesota, Maryland, Indiana, Illinois and Pennsylvania. The firm currently owns over 85 assets across 20 states.
About MDH Partners
MDH Partners is an Atlanta-based real estate investment company managing its discretionary funds targeting industrial real estate across the United States on behalf of its institutional investors. Founded in 2005 as the successor to a fifty-year-old local real estate development company, MDH Partners has led and/or participated in over $6 billion (80 million square feet) of acquisitions, developments, and asset management as an advisor and investor. For more information, visit www.mdhpartners.com.