Ambrose has completed the disposition of Building III at Mount Comfort Logistics Center, a modern industrial asset in the East industrial submarket of Indianapolis. The property is part of a ten-building, 437-acre logistics park that targets contemporary distribution and industrial users in Greater Indianapolis. Building III has been sold as a stabilized, fully leased asset, underscoring sustained investor interest in specialized industrial facilities.
The building totals 297,769 square feet and is leased in its entirety to a third-party logistics provider focused on cold storage operations. The facility was originally developed on a build-to-suit basis in 2023 for PL Cold, an affiliate of Progressive Logistics, aligning the building’s specifications with the requirements of temperature-controlled distribution. The buyer in the latest transaction is described as a locally based private investor, indicating that private capital remains active in acquiring mission-critical industrial assets in the Indianapolis area.
According to Ambrose, the property benefits from a combination of expert building design, an in-place tenant with specialized logistics capabilities, and strategic positioning within Greater Indianapolis. The logistics park’s proximity to major transportation corridors, abundant labor pools and a base of positive economic activity contributed to Ambrose’s decision to bring the asset to market and helped support execution of the sale. Ambrose views these fundamentals as key to positioning Building III for a successful exit and to driving long-term value for the new owner.
The cold storage facility includes approximately 223,000 square feet of freezer and cooler space and is equipped with 40 docks, allowing the tenant to support high-throughput, temperature-sensitive distribution. These features align the building with the operational needs of food and pharmaceutical supply chains, among other users that depend on reliable cold storage solutions.
In the transaction, Ambrose was represented and advised by the Indianapolis-based Colliers Capital Markets team. The assignment was led by Alex Cantu and Alex Davenport, who provided capital markets advisory and marketing services for the sale of Building III. Their role encompassed positioning the asset to investors as a modern, build-to-suit cold storage facility within a large-scale logistics campus, backed by an established third-party logistics tenant with a specialized focus on cold storage operations.
