Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Brightpoint Inc. has closed on a $31 million deal to purchase its 495,000-square-foot distribution facility
in Plainfield.
Chicago-based Jones Lang LaSalle Inc. announced the closing Wednesday.
The global wireless
device distributor had been leasing the facility at 501 Airtech Parkway. The property was developed for
Brightpoint and includes 105,000 square feet of office space.
The seller was Denver-based ProLogis.
Brokers
with Chicago-based Jones Lang LaSalle, who represented Brightpoint, said the deal, which closed in November, is a good example
of a trend they’re seeing: corporate tenants taking advantage of a down market to buy their leased
space.
“Owning versus leasing this property allows them the maximum flexibility at this site,
and allowed Brightpoint to eliminate future lease payments,” said Jay Koster, JLL’s managing
director.
Owner-occupiers are becoming more common as fewer investors are in a position to
bid on properties. In a November auction of surplus Duke Realty Corp. development parcels, including industrial
land, five out of seven parcels that sold went to end users.
Please enable JavaScript to view this content.