CenterSquare has recently announced its latest investment for the Value Added Fund V, with the acquisition of Jackson Park. This portfolio consists of 260,400 square feet of Service Industrial properties located in Indianapolis’ Eastside submarket. The portfolio is currently 97% occupied and includes 27 tenants with an average suite size of approximately 9,000 square feet.
As part of this acquisition, CenterSquare plans to bring the below market rents up to market value and make various capital improvements to the property. These improvements include re-milling and paving asphalt as well as roof repairs and other necessary updates throughout the park. This transaction marks CenterSquare’s fourth Service Industrial investment in Fund V, bringing their total Service Industrial portfolio to over one million square feet.
This is also CenterSquare’s second Service Industrial investment within Indianapolis and their fourth overall investment within this city when combined with two Build-to-Rent transactions. With this recent acquisition completed by CenterSquare, it further solidifies their presence in Indianapolis’ industrial real estate market.
