Description

• 286,000 square foot building that was purchased vacant and represented a value-add repositioning play in the market.
• Franklin is a tertiary market located 60 minutes south of Indianapolis.  The property was purchased vacant and subsequently leased on a 10-year lease to a company called Franklin Power Products adding immediate value to the asset.
• The building was purchased vacant for $2M, added $2M of tenant improvements and sold following lease commencement for approximately $9M.  The building provided much needed space for Franklin while proving a nice gain for the sellers.  A real win-win!