JLL Arranges Sale of 500,406-SF Industrial Building Near Indianapolis as SkyREM Acquires Ambrose Asset
MOORESVILLE, Ind. — Sept. 21, 2026 — JLL Capital Markets has arranged the sale of Westpoint Business Park, Building IV, a 500,406-square-foot Class A industrial facility at 2630 Westpoint Blvd. in Mooresville, Indiana. SkyREM acquired the asset from Ambrose, with JLL representing the seller in the transaction.
The deal centers on a fully leased, LEED Silver-certified building completed in 2022 that serves as a mission-critical node in a food-grade packaging and manufacturing supply chain — a use that demands stringent sanitation, traceability and quality-control standards that limit the pool of qualifying industrial space.
Property Details and Specifications
Westpoint Business Park, Building IV sits on approximately 42.7 acres within the master-planned Westpoint Business Park in Hendricks County. The cross-dock facility features a 40-foot clear height, 52 dock-high doors, three drive-in doors and a 140-foot truck court. The property also includes 319 automobile parking spaces and 60 trailer parking positions, with capacity for future expansion. An additional 12,417 square feet of office space is incorporated into the building, which was designed to support high-volume manufacturing and distribution operations.
The building is 100% leased to a packaging and manufacturing company. Industrial space capable of meeting food-grade requirements is scarce, and the tenant improvements required to qualify and operate such a facility distinguish Westpoint Building IV from conventional distribution square footage.
Strategic Location in the Indianapolis Logistics Corridor
The property is positioned within the Interstate 70 logistics corridor in Hendricks County, one of the Indianapolis region's most active industrial submarkets. It offers direct access to I-70 via the State Road 39 interchange and sits approximately 11 miles from Indianapolis International Airport and the FedEx Express World Hub. Interstates 65, 69, 70 and 74 are all accessible from the location, supporting both regional and national distribution. The Hendricks County labor base provides an established pool of logistics and manufacturing workers.
The Indianapolis industrial market reflects the broader appeal of the submarket. Industrial vacancy in the metro stands at approximately 6.9% to 7.6%, with average asking rents ranging from roughly $6.35 to $7.71 per square foot. The market absorbed approximately 11.5 million square feet over the trailing year, and investment sale pricing in the market implies cap rates around 8.6%. The region continues to attract industrial capital in part because it offers central U.S. distribution access and comparatively low operating costs relative to other major logistics hubs.
JLL Team and Transaction Commentary
The JLL Capital Markets team was led by Senior Managing Director John Huguenard, Managing Director Ed Halaburt, Director Will McCormack and Associate Cameron Chandra.
"As a proven, pure-play market where nearly all industrial inventory is dedicated distribution space, Hendricks County provides the ultimate environment for a highly specialized facility like Westpoint Building IV," John Huguenard said. "The buyer recognized that acquiring an institutional asset within this highly concentrated logistics ecosystem secures a mission-critical footprint with exceptional, long-term operational stability."
Jacob Dembitzer of SkyREM described the acquisition as consistent with the firm's investment strategy. "Westpoint Building IV represents exactly the type of investment SkyREM is seeking: modern, mission-critical industrial real estate in a major U.S. logistics market with strong long-term fundamentals," Dembitzer said. "The acquisition expands our industrial portfolio and reflects our continued commitment to investing in high-quality manufacturing and logistics assets throughout the United States."
About the Companies
SkyREM, with offices in New York and Philadelphia, is a privately owned real estate investment company that owns and operates more than 12 million square feet across approximately 30 properties in 20 major U.S. industrial, logistics and trade-gateway markets, along with strategic land holdings and an integrated solar business. The acquisition adds to SkyREM's growing national portfolio of industrial, manufacturing and logistics properties.
Ambrose is a vertically integrated investment manager focused on acquiring, developing and operating industrial, logistics and e-commerce real estate throughout the United States. Founded in 2008, the firm is headquartered in Indianapolis with additional offices in Fort Lauderdale, Denver and Cincinnati.
JLL is a global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in more than 80 countries and a global workforce of more than 112,000 as of June 30, 2026. JLL's Capital Markets group includes more than 3,000 specialists worldwide with offices in nearly 50 countries.
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