A single-tenant industrial building near Indianapolis International Airport has changed hands, with Marcus & Millichap arranging the sale of 7770 W. New York St. in Indianapolis. The 16,000-square-foot property, a flex-style industrial asset, was sold for $2.1 million to Greenspring Realty Partners, according to the brokerage firm.
The building is located in the airport-area industrial corridor, a submarket that continues to attract investors seeking access to transportation infrastructure and regional logistics networks. Marcus & Millichap described the area as a highly desirable pocket within the broader Indianapolis industrial landscape, underscoring the property’s positioning near the airport.
Constructed in 1994, the asset sits on approximately 2.20 acres and is fully occupied by Terracon Consultants. Terracon is an employee-owned firm that provides environmental consulting, geotechnical engineering, construction materials testing and facility engineering services. The long-standing tenancy reinforces the single-tenant profile of the building and supports its appeal as a stabilized industrial investment.
Gus Poulos, associate director of investments with Marcus & Millichap, noted that the transaction reflects the continued strength of the Indianapolis industrial market, particularly around the airport. The broker highlighted that investor interest in this submarket remains solid, aligning with broader demand for well-located industrial product.
Poulos and Forest Bender, investment specialists in Marcus & Millichap’s Indianapolis office, held the exclusive listing to market the property on behalf of a private in-state seller. The brokers indicated that they were able to match the seller with an out-of-state buyer and move the transaction from representation agreement to closing in just 29 days. The deal was completed on an all-cash basis, according to Bender, who serves as managing director investments.
The swift execution and cash structure of the sale, combined with a stabilized single-tenant occupancy by Terracon Consultants, illustrate how buyers are targeting smaller, well-located industrial assets in established logistics corridors. While additional financial details were not disclosed, the parties pointed to the property’s characteristics and its airport-proximate location as key drivers of investor interest.
The transaction adds to the body of recent industrial trades near Indianapolis International Airport and provides another reference point for private capital and regional investors evaluating similar flex and industrial opportunities in the market. For Marcus & Millichap, the assignment underscores the firm’s ongoing role in marketing stabilized industrial product on behalf of private owners in the Indianapolis region.
