New distribution facility near Indianapolis sells for $43M

CHICAGO, Sept. 28, 2021 – JLL Capital Markets announced today that it has closed the $43 million sale of Westpoint II, a new, 507,600-square-foot, Class A industrial facility that is on track to achieve LEED ID+C Gold certification and is fully leased to Deckers Outdoors Corporation in the Indianapolis-area community of Mooresville, Indiana.

JLL marketed the property on behalf of the seller, Ambrose Property Group LLC. Cambridge Holdings purchased the asset.

Westpoint II is fully occupied by Deckers Outdoors Corporation (NYCS:DECK), a leading lifestyle and footwear retailer. Completed in 2021, the facility has institutional-quality features, including 36-foot clear heights, 50 dock-high doors with full kits plus 70 knock-out doors, ESFR fire protection and LED lighting. The building is part of Westpoint Business Park, a 550-acre master-planned park that will feature more than 9 million square feet of Class A industrial product and, upon completion, rank as one of the largest distribution assets in the state.

Located at 2633 Westpoint Blvd. in Mooresville, Westpoint II is approximately 22 miles from downtown Indianapolis and within Indianapolis’ Southwest Industrial submarket, a favorite bulk distribution and logistics hub with excellent access and proximity to Indianapolis International Airport. Additionally, the property is along Interstate 70, a critical, major east-east route that stretches from Utah to Maryland, allowing the tenant to reach both coasts within a two-day’s drive.

The JLL Industrial Capital Markets team representing the sellers is led by Senior Managing Director John Huguenard and Senior Director Ed Halaburt, along with Senior Managing Director Brian Seitz.

“We appreciate the efforts of the JLL Industrial Capital Markets team in executing this transaction for Ambrose,” said Ambrose President and Chief Investment Officer Jason Sturman. “Westpoint Business Park has gained significant momentum in the past year, and we look forward to our continued partnership with JLL on future buildings.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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