Harding Street Industrial Facility Sold: Overcoming Hurdles for a Strategic Investor Lease to EquipmentShare

CLIENT PROFILE:

EquipmentShare Indianapolis, known for its comprehensive equipment rental and fleet technology solutions, serves a broad client base in Indianapolis and surrounding counties. Offering everything from heavy construction equipment to portable climate control, they cater to contractors and construction industries. While we didn’t represent EquipmentShare directly, our client successfully secured a long-term lease with them, highlighting EquipmentShare’s ongoing expansion and dedication to meeting the area’s equipment rental needs.

CHALLENGE:

The challenge was to successfully sell the Harding Street Industrial facility, situated within a heavy industrial corridor with high visibility off Harding Street. The property spanned over 10 acres and featured multiple buildings, including heavy truck repair facilities and office space. Overcoming environmental concerns and facilitating a smooth due diligence process were crucial to closing the deal.

ACTION:

Efforts were focused on highlighting the property’s prime location and its versatile features. The facility’s heavy industrial zoning (I4) with no restrictions made it an appealing investment opportunity. The seller worked closely with a group of local professional investors, redacting the buyer’s ownership entity for confidentiality. A key aspect of the transaction was securing a corporate high credit tenant for the site, which included a lease agreement at the time of closing.

RESULTS:

  • Listed, put under contract, and closed within a three-month timeframe in July 2023.
  • Negotiated an all-cash transaction efficiently over three weeks.
  • Overcame environmental concerns with careful planning, site rearrangement, and expedited environmental assessments.
  • After purchasing the Harding Street Industrial facility, our investors successfully implemented their strategy by leasing it to EquipmentShare, a heavy equipment rental tenant.