Ambrose acquires four Midwest industrial assets totaling over one million square feet
INDIANAPOLIS – Ambrose,a vertically integrated real estate investment manager that specializes in acquiring, developing and operating modern industrial, logistics and e-commerce real estate, today announced the acquisition of four industrial assets across the Midwest totaling over one million square feet at a purchase price of just over $102 million. The properties comprise a variety of modern industrial facilities
Ambrose acquired three fully leased industrial facilities via an off-market deal from Artemis Real Estate Partners located in the key regional markets of Columbus, OH; Indianapolis, IN and Greater Louisville, KY. Ambrose also acquired a temperature-controlled foodservice facility in Whitestown, IN from an Italian and specialty foods distributor. The facility is fully occupied under a long-term lease.
Ambrose Senior Vice President of Investments Pat Walsh said, “These assets offered a compelling opportunity to acquire industrial properties well below replacement cost within core submarkets that feature strong economic fundamentals, high user demand and limited supply. The significant mark-to-market opportunities, coupled with our in-house asset management team’s expertise, capability, and customer relationships, provide us with an effective investment strategy to realize long-term investor value and regional portfolio expansion in some of the most sought-after logistics markets in the Midwest.”
The assets acquired include:
- 2588 Jannetides Blvd., a 512,000 SF cross-dock distribution facility that includes a 27.5-acre industrial outdoor storage yard. The property is partially occupied by Wesco with 287,500 SF available to lease in July 2026. The building features 32-foot clear heights, LED lighting and an ESFR sprinkler system. The property is strategically located directly along I-70 in the East submarket of Indianapolis with proximity to I-70, I-465, I-69 and I-74.
- 200 Trey Street, a 256,500 SF modern rear-load distribution facility, situated within the River Ridge Commerce Center in Jeffersonville, IN, part of the Greater Louisville industrial market. The location benefits from an on-campus rail yard operated by OmniTRAX, proximity to I-65, and convenient connectivity to the Port of Indiana–Jeffersonville and the UPS WorldPort. The building features 32-foot clear heights, dock-high and grade-level doors, LED lighting, and an ESFR sprinkler system. The property is fully leased to Niagara Bottling, a leading, family-owned beverage company, with over 50 bottling plants located across the U.S. and Mexico.
- 6770 Shook Road, a 201,600 SF modern rear-load distribution facility located in the prominent Southeast industrial submarket of Columbus that features 32-foot clear heights, dock-high and grade-level doors, LED lighting, and an ESFR sprinkler system, as well as an additional 1.6-acre lot for trailer/van parking. The property is fully leased to Kroger and Component Hardware and is ideally located with convenient access to I-70, I-270 and I-71, and within one mile of the Rickenbacker International Airport in Columbus.
- 5000 Anson Boulevard, a modern 151,306 SF cold storage building that features state-of-the-art temperature-controlled spaces, a test kitchen, cheese processing areas, and Class A office space. The building is located along I-65 in the Northwest submarket of Indianapolis, with direct interstate access via a new diamond interchange. It is situtated adjacent to Ambrose’s existing Indianapolis Logistics Park – Northwest, a four-building modern industrial park occupied by Cardinal Health, Safavieh, Royal Interpack and KattSafe.
Ambrose President and Chief Investment Officer Jason Sturman added, “Our investment strategy is guided by diligence, patience in execution and a keen sense of market timing. Our team, armed with boots-on-the-ground knowledge and a track record of successful market analysis, was able to effectively evaluate the extensive pipeline available to us and identified these assets as best aligned with our investment thesis and well-positioned to maximize risk-adjusted returns on investors’ capital.”
The four buildings expand Ambrose’s existing Midwest portfolio of 13 buildings and additional sites across the Indianapolis, Cincinnati, Columbus, Toledo and Pittsburgh markets. The firm also maintains assets in the Mountain and Southeast regions, plus a land pipeline of 2,000 acres across the United States representing over 20 million developable square feet.