Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops and operates industrial properties on a national basis, has acquired Hillsdale Business Park, a six-building business park comprising 445,892 SF in Indianapolis, IN. Hillsdale Business Park is located at the intersection of two main interstates that serve the Indianapolis metro area, I-465 and I-69.
“We are pleased to complete the acquisition of Hillsdale Business Park. The Indianapolis market is a strong Midwest market and has demonstrated exceptional fundamentals, as evidenced by 2.8 million square feet of positive net absorption year-to-date,” said Scott McKibben, Co-Founder and Chief Investment Officer for Brennan Investment Group.
Ryan O’Halloran, Vice President of Acquisitions at Brennan Investment Group stated, “This acquisition was an excellent opportunity to acquire an institutional-quality business park consisting of light industrial space, office, and medical office. We also have the ability to increase cash flow through additional leasing of the currently vacant space.”
Because of the fundamental strength and improving demographics of Indianapolis, Brennan has been an active investor in this market. In the second quarter of 2014, Brennan acquired the 260,400 square foot Jackson Industrial Park located in the East submarket of Indianapolis.
Transwestern Capital Markets Managing Director Gary Nussbaum and Senior Associate David Matheis represented the seller in this transaction.