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Livingston Street Capital sells industrial property in Indiana for $53m
Livingston Street Capital has sold a 393,817-square-foot industrial property in Columbus, Ind., to Bridge Investment Group for $55.3 million. The asset is net leased to Faurecia Emissions Control Technologies, part of the Faurecia Clean Mobility Group.
The firm acquired the property in November 2018. Appetite for quality industrial product throughout the United States has grown significantly among a cross-section of investors, presenting an opportune time to capitalize on this investment, according to Peter Scola, president and co-CEO of Livingston Street Capital.
“Our strategy for identifying industrial assets is to target single-tenant properties and locations that are strategic to a company’s operations and growth or serve a vital function within a key division. This is why we were attracted to this investment originally and saw strong demand for it during our disposition process,” said Scola. “This asset was ideally aligned with this business plan, having b