Ambrose completes disposition of modern industrial facility in Greater Indianapolis

297,769 SF build-to-suit property is fully leased to a cold storage operator

INDIANAPOLIS – Ambrose, a vertically integrated real estate investment manager that specializes in acquiring, developing and operating modern industrial, logistics and e-commerce real estate, has completed the sale of Building III at Mount Comfort Logistics Center, a ten-building, 437-acre modern industrial park located in the East industrial submarket of Indianapolis. The 297,769-square-foot facility is fully leased to a third-party logistics firm that specializes in cold storage. The buyer was a locally based private investor.

“The successful disposition of this asset is the result of a targeted sales strategy,” said Erin Shepherd, Vice President of Asset Management at Ambrose. “This building’s expert design, in-place tenant and proximity to the abundant labor pools, positive economic activity and major transportation nodes of Greater Indianapolis positioned this asset for a successful exit and accretive long-term value for incoming ownership.”

Developed on a build-to-suit basis in 2023 for PL Cold, an affiliate of Progressive Logistics, the facility features 223,000 square feet of freezer and cooler space, 40 docks and VNA racking and ALTA Refrigeration EXPERT systems. Situated within the wider Mount Comfort Logistics Center campus, the property benefits from the park’s convenient access to both I-70 and I-465. Indianapolis remains one of the strongest industrial investment markets in the Midwest, with an approximately 2.1 million square feet of positive net absorption in Q3 2026, and average asking rents of $6.43 per SF, up 6% year-over-year, reflecting sustained demand for modern logistics space.

Ambrose was represented and advised in the transaction by Alex Cantu and Alex Davenport of the Indianapolis-based Colliers Capital Markets team.