Avison Young arranges purchase and leasing of Indianapolis industrial property
July 18, 2023
Property recently converted from single-tenant space to three-tenant space
Indianapolis, IN – Avison Young has arranged the purchase and leasing of a 22,000-square-foot (sf) commercial industrial property at 1407 N. Harding Street in Indianapolis, IN on behalf of 1231 Roosevelt LLC. The property was recently repositioned from single-tenant to three-tenant spaces and is currently fully leased to occupants Utility Asset Buyers, Indiana University (IU) Health, and Bardales Seafood.
The buyer, 1231 Roosevelt LLC, was represented by Peter Seoane, Vice President based in Avison Young’s Indianapolis office. Utility Asset Buyers represented themselves, IU Health was represented by Ralph Balber and Emily Merten of ALO Property Group, and Bardales Seafood was represented by Brian Epstein of Urban Space Commercial Properties.
“This was a unique property to bring to a robust industrial market,” said Seoane. ”Given its recent interior and exterior renovations, it was more attractive to the 5-10,000-sf tenant pool seeking quality space for their growing operations.”
Utility Asset Buyers will utilize their space for decommissioning services for oil/air-filled electrical testing equipment, IU Health will store health supplies, and Bardales Seafood, which is new to Indianapolis, will use their space to process East Coast fresh seafood for distribution to local restaurants and seafood markets.
“We were fortunate to bring this property to market after adapting it from a single-user building to three new, high-quality spaces,” said Jay Walter, owner of 1231 Roosevelt LLC. “We are excited to enable expansive growth for local companies that support our community for the foreseeable future.”
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