CBRE Facilitates Sale of 143,000-SF Industrial Property in Indiana for $5.3 Million
CBRE has arranged the sale of a 142,914-square-foot industrial property located at 833 Legner Street in Bremen, Indiana. The property was acquired for $5.3 million by a private, high-net-worth investor from California utilizing a 1031 Exchange.
The transaction was brokered by CBRE’s Kevin Foley, Austin Wolitarsky, and Anthony DeLorenzo, along with Terry Busch, who represented the private seller. The facility is fully leased to Patrick Industries, a leading manufacturer and supplier of interior and exterior components for the RV, marine, powersport, and housing industries. The lease has 6.25 years remaining.
Occupying a 9.68-acre site, the industrial property is strategically located adjacent to US Route 6, offering direct connectivity to key transportation corridors across the Midwest.
“1031 Exchange capital is extremely active right now—especially coming out of California. Many of these buyers are seeking stabilized industrial assets in business-friendly states, and manufacturing-related tenancy adds even more appeal,” said Kevin Foley, First Vice President at CBRE.
