CenterSquare announced that as the latest investment for its Value Added Fund V, the company has acquired Jackson Park, a 260,400 square-foot portfolio of Service Industrial properties in the Eastside submarket of Indianapolis.
The Jackson Park Service Industrial Portfolio is a 260,400 square foot, 97% occupied, multi-tenant industrial portfolio located in the Eastside submarket of Indianapolis. The Portfolio consists of 27 tenants with an average suite size of approximately 9,000 square feet.
CenterSquare plans to make various capital improvements to the property, including re-milling and paving the asphalt, roof repairs, and other miscellaneous repairs throughout the park. The transaction is the fourth Service Industrial investment in Fund V, bringing the total Service Industrial portfolio to more than one million square feet.
It is the second Service Industrial investment within Indianapolis and, along with two Build-to-Rent transactions, is the fourth investment overall within Indianapolis.
