Marcus & Millichap is pleased to present to the market 601 South Girls School Road in Indianapolis, Indiana (directly adjacent to Plainfield, IN) – a 44,813 square foot single-tenant industrial building formerly owned and currently leased to AT&T as a garage and maintenance center for their technicians and vehicles situated on 8.30 acres directly across South Girls School Road from a 600,000 square foot Amazon.com fulfillment center. The Property is situated on the east side of South Girls School Road immediately south of Rockville Road/IN-36 and immediately north of West Washington Street/IN-40 – two of the most heavily trafficked corridors on the West side of Indianapolis connecting the City to its neighboring heavily-industrial submarket of Plainfield.
The Subject Property was owned and occupied by AT&T as a garage and maintenance depot for their technicians and service vehicles servicing part of the west side of Indianapolis. In 2019 AT&T sold the asset to a local developer as part of a larger portfolio of locations that AT&T has elected to vacate over the next few years and signed short-term sale/leasebacks in the process of the dispositions. With that, the Subject Property is currently leased to AT&T until October 2021. with a few short-term renewal options, at which point the Tenant is expected to vacate.
The opportunity with 601 South Girls School Road is for an Investor or Owner/User to acquire the Property and collect passive, triple-net cash flow for the first year or so while either preparing to occupy the space or while they work to reposition to a longer-term Tenant. With strong in-place cash flow from a credit tenant, 8.30 acres, and a location that is extremely attractive for many industrial users being across from a major Amazon.com fulfillment center, 601 South Girls School is primed to be an excellent, rare opportunity for the savvy Investor.
