February 2024 Sale

1908 & 1950 Stout Field​

Indianapolis, IN

BACKGROUND

  • The Project comprised of two adjacent warehouses totaling 166,274 SF
    on 10.21 acres.

  • In 2018, TOG bought 1908 & 1950 Stout Field for $8mm from a 3PL owner-user.

  • The 3PL leased the 1908 building & a food company leased the 1950 building.

  • TOG expanded the food company by assigning the 3PL’s lease. The food company vacated the 1908 building at the end of that lease term and continued leasing the 1950 building.

  • TOG sold the 1950 building to a private exchange investor for $3.2mm and shortly thereafter sold the 1908 building to a separate owner-user for $9.0mm.

  • IRR 19%

  • Equity Multiple 2.4x

  • Hold 5.5 Years