Park 74 Commerce Center in Indianapolis MSA trades hands

CHICAGO, June 24, 2026 - JLL Capital Markets announced today the sale of Park 74 Commerce Center, a two-building Class A industrial portfolio totaling 826,687 square feet in Brownsburg, Indiana, within the Indianapolis metropolitan statistical area.

JLL represented the seller Brennan Investment Group and RGA ReCap Incorporated (ReCap Real Estate Investments), on behalf of Reinsurance Group of America, Incorporated (RGA), in the transaction.

The fully leased distribution complex consists of a 580,884-square-foot cross-dock facility and a 245,803-square-foot rear-load building, both constructed in 2024 with modern logistics specifications including 40-foot and 32-foot clear heights, respectively, 84 dock doors, ample trailer parking and connectivity to the CSX railway via an active rail spur.

The properties are 100% leased to three tenants representing abrasives manufacturing, electric motors and flexible film production. The buildings feature concrete tilt-wall construction, ESFR fire protection systems, LED lighting with motion sensors and substantial electrical infrastructure. Building B's rail connectivity provides specialized logistics capabilities that enhance tenant retention and broaden the asset's appeal for future industrial users requiring intermodal access.

Located at 9600 and 9822 East 400 North, Park 74 Commerce Center provides immediate access to Interstate 74 via Ronald Reagan Parkway, connecting tenants to the greater Indianapolis region and the central Midwest's extensive highway infrastructure. The recently completed Ronald Reagan Parkway extension has enhanced truck traffic flow in the area and spurred additional industrial demand throughout the corridor. The portfolio is positioned 1.5 miles from Interstate 74, six miles from Interstate 465, 10.3 miles from Interstate 65 and 12.2 miles from Indianapolis International Airport, home to the world's second-largest FedEx Express hub.

The sale reflects robust institutional demand for stabilized industrial assets in the Indianapolis market, which recorded over 13 million square feet of net absorption in 2025, ranking fifth among all United States markets. Fourth-quarter activity was particularly strong, with 7.2 million square feet absorbed, driving market vacancy down to 8.1% from 11.7% in mid-2024.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Sean Devaney, Managing Directors Kurt Sarbaugh and Ed Halaburt, Senior Director Ross Bratcher, Associate Cameron Chandra and Analyst Luke Davis. Executive Managing Directors Brian Buschuk and Brian Seitz lended local market expertise out of JLL's Indianapolis brokerage office.

"The sellers successfully repositioned this development into a stabilized, income-producing portfolio with nearly a decade of weighted average lease term and minimal near-term rollover risk, which drove significant investor interest throughout the marketing process," Devaney said. "Strong industrial fundamentals across the Indianapolis market further validated pricing and demonstrated the region's position as a premier logistics destination."

JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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