Description

• 117,000 square foot free standing building that was acquired as part of the Delco Remy corporate acquisition and represented a value-add transaction.
• The building was vacant upon acquisition which provided the buyer the opportunity to add value by finding either a buyer or tenant to lease the facility.  Ultimately a buyer was found who purchased the building at a significant increase to the original acquisition price.
• Anderson, Indiana is a tertiary market located 60 minutes northeast from Indianapolis.  As more and more users started to look up the I-69 corridor from Indianapolis, they found a small market with good access but not a lot of building inventory.  There was steady activity of potential buyers for this property once we put it on the market to lease or sell.