Bulk regional distribution center near Indianapolis trades for $114m
W.P. Carey has paid $114 million for ConAgra Distribution Center, a 1.5 million-square-foot, class A bulk regional distribution center triple-net leased to ConAgra Brands in the Indianapolis-area community of Frankfort, Ind.
The seller was Founders Properties.
The facility was completed in 2015 as a build-to-suit industrial facility for ConAgra, the 11th-largest food and beverage maker in the United States. The building has 10 rail docks serviced by CXS and Norfolk Southern and features a 34-foot clear height, 100 percent concrete truck courts, 125 dock-high doors plus 125 knockouts, four drive-in doors, 853 trailer parking stalls, ESFR fire protection, LED lighting and low office finish.
Situated on 180 acres at 3500 W. County Rd O NS in Frankfort, the facility is 41 miles from Indianapolis and in a critical, centralized Midwest location that allows the tenant to reach half of America’s major population centers within a 24-hour drive from the Indiana border.