JLL Arranges Sale of Park 74 Commerce Center Industrial Portfolio in Brownsburg, Indiana for Brennan Investment Group and RGA ReCap Incorporated

BROWNSBURG, Ind. — JLL Capital Markets has arranged the sale of Park 74 Commerce Center, a two-building Class A industrial portfolio totaling 826,687 square feet in Brownsburg, Indiana, within the Indianapolis metropolitan statistical area, the firm announced June 24, 2026.

JLL represented the sellers — Brennan Investment Group and RGA ReCap Incorporated, acting on behalf of Reinsurance Group of America, Incorporated (RGA) — in the transaction. The buyer was not disclosed.

Portfolio Overview: New Construction, Full Occupancy, Rail Access

Park 74 Commerce Center comprises two Class A industrial buildings located at 9600 and 9822 East 400 North, both completed in 2024. Building A is a 580,884-square-foot cross-dock facility featuring a 40-foot clear height, while Building B is a 245,803-square-foot rear-load building with a 32-foot clear height and direct connectivity to the CSX railway via an active rail spur.

The portfolio is 100% leased to three tenants operating in abrasives manufacturing, electric motors, and flexible film production. According to JLL, the complex carries nearly a decade of weighted average lease term with minimal near-term rollover risk — a profile that generated significant investor interest during the marketing process.

Both buildings feature concrete tilt-wall construction, ESFR fire protection systems, LED lighting with motion sensors, and substantial electrical infrastructure. The portfolio also offers 84 dock doors and ample trailer parking. Building B's active CSX rail spur provides specialized logistics capabilities that enhance tenant retention and broaden the asset's appeal for future industrial users requiring intermodal access.

No sale price, cap rate, or price-per-square-foot figures were disclosed in connection with the transaction.

Location and Infrastructure

Park 74 Commerce Center is situated in Brownsburg, Indiana. The properties sit 1.5 miles from Interstate 74, six miles from Interstate 465, 10.3 miles from Interstate 65, and 12.2 miles from Indianapolis International Airport, which is home to the world's second-largest FedEx Express hub.

Access to the broader regional highway network is provided via Ronald Reagan Parkway, which connects directly to Interstate 74. JLL noted that a recently completed extension of Ronald Reagan Parkway has improved truck traffic flow in the area and contributed to increased industrial demand along the corridor.

Indianapolis Industrial Market Context

The transaction reflects broader institutional demand for stabilized industrial assets in the Indianapolis market. According to JLL, the Indianapolis industrial market recorded more than 13 million square feet of net absorption in 2025, ranking fifth among all U.S. markets. Fourth-quarter 2025 activity was particularly strong, with 7.2 million square feet absorbed during that period, driving market vacancy down to 8.1% from 11.7% in mid-2024.

"The sellers successfully repositioned this development into a stabilized, income-producing portfolio with nearly a decade of weighted average lease term and minimal near-term rollover risk, which drove significant investor interest throughout the marketing process," said Sean Devaney, Senior Managing Director at JLL. "Strong industrial fundamentals across the Indianapolis market further validated pricing and demonstrated the region's position as a premier logistics destination."

Transaction Team

The JLL Capital Markets team representing the sellers was led by Senior Managing Director Sean Devaney, Managing Directors Kurt Sarbaugh and Ed Halaburt, Senior Director Ross Bratcher, Associate Cameron Chandra, and Analyst Luke Davis. Executive Managing Directors Brian Buschuk and Brian Seitz contributed local market expertise from JLL's Indianapolis brokerage office.

About the Firms Involved

Brennan Investment Group is a Chicago-based private real estate investment firm that acquires, develops, and operates industrial properties across major U.S. metropolitan markets. Since 2010, the firm has acquired or developed $6.5 billion in industrial real estate across 30 states, with a current portfolio spanning approximately 57 million square feet across 29 states.

RGA ReCap Incorporated acts on behalf of Reinsurance Group of America, Incorporated (NYSE: RGA), a global life and health reinsurance company with approximately $4.3 trillion of life reinsurance in force and total assets of $156.6 billion as of December 31, 2025.

JLL (NYSE: JLL) is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in over 80 countries. JLL's Capital Markets group includes more than 3,000 specialists worldwide with offices in nearly 50 countries.