Stos Partners and Cardinal Industrial have entered the Midwest market with the acquisition of an approximately 1.1-million-square-foot light-industrial portfolio in Indianapolis. The portfolio comprises 34 multi-tenant light industrial properties occupied by a diverse mix of tenants. The sales price was not disclosed.
The portfolio, which is 95-percent occupied, was purchased from a private individual who had owned and developed the property over decades.
“We continue to be nimble and flexible in order to strategically expand our industrial holdings and implement our proven value-add business plans, successfully enacted in several Southern California and Southwest markets,” said Jason Richards, partner of Stos Partners. “In third quarter, Indiana experienced aÂ
