IndCor acquired the property in December 2011 as a value-added acquisition with a short term lease for a portion of the building, and leased the entire property to Argix Logistics in June 2012. The property offers Argix Logistics unique sortation, warehousing, loading capabilities, and more than 200 trailer storage spaces.
"The acquisition of this property is in line with our continued focus on high-quality, well-located assets with the ability for our team to add value through leasing,” says Tim Beaudin, CEO of IndCor. “We are pleased to provide Argix this strategically-
Jason Goldman, of Cushman & Wakefield, represented IndCor for the lease-up of the building; and Michael Hines, Tom Monahan and Noah Balanoff, of CB Richard Ellis, represented the seller and the tenant.
About IndCor Properties:
IndCor Properties, Inc. (IndCor) is one of the premier real estate companies in the United States focusing on the ownership and management of industrial properties. As a comprehensive real estate operator, IndCor currently owns and manages over 85 million square feet located in 40 key logistics markets in 23 states. IndCor is headquartered in Chicago, Illinois.
IndCor was formed in 2010 as a portfolio company of The Blackstone Group, one of the world’s largest alternative asset managers and advisory firms. To learn more, visit www.indcor.com.
About Argix Logistics:
For over 30 years, Argix Logistics has helped their long term customers move merchandise fast and reliably throughout its national network. Today, they are a fast growing privately-held company headquartered in Jamesburg, NJ, moving more than 40 million cartons per annum to over 7,000 locations nationwide daily. They offer Transportation Services, Distribution Services and Supply Chain Management Services. To learn more, visit www.argixlogistics.com/