MLG Capital Acquires 1.53 Million-Square-Foot Indianapolis West Infill Industrial Portfolio in 29-Building Deal

MLG Capital has completed the acquisition of the Indianapolis West Infill Industrial Portfolio, a 1,533,112-square-foot, 29-building light industrial portfolio located in the Park 100 and Park Fletcher industrial parks in Indianapolis, Indiana, Colliers announced Sept. 3.

The portfolio was acquired on behalf of MLG Legacy Fund and 1031 exchange investors, blending programmatic fund capital with tax-deferred exchange proceeds. The MLG Legacy Fund structure is designed for owners to contribute property through tax-deferred transactions in exchange for fund units, targeting industrial and multifamily assets with conservative leverage and long-term, fixed-rate debt.

Portfolio Overview: Park 100 and Park Fletcher

The Indianapolis West Infill Industrial Portfolio spans two of Indianapolis's established infill industrial corridors. Eleven buildings are located in the Northwest submarket within Park 100 and Corporate Center North, with access to I-465 and I-65. The remaining 18 buildings are situated in Park Fletcher in the Southwest submarket, near I-465 and Indianapolis International Airport.

At closing, the portfolio was 94% occupied across 158 tenants, representing a diverse mix of national, regional, and local companies across a broad range of industries. Individual properties range from approximately 16,000 to 157,000 square feet, with an average clear height of approximately 15 feet. The portfolio features a total of 194 dock doors and 155 drive-in doors, consistent with shallow-bay and light industrial functionality.

Colliers Team Advises Seller

Colliers Industrial Capital Markets advisors Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, and Tyler Ziebel partnered with Indianapolis local market advisors Tyler Wilson, Jason Speckman, and Sydney Gabriel to complete the transaction on behalf of the seller.

"Park 100 and Park Fletcher are established infill industrial locations with direct connectivity to I-465, I-65 and Indianapolis International Airport, providing tenants access throughout the Indianapolis market and broader Midwest," said Cantu. "Investor demand for light industrial assets across Indianapolis and the greater Midwest remains strong, supported by resilient tenant demand, limited new supply, and favorable long-term market fundamentals."

Infill Industrial Demand Drives Transaction

The transaction reflects continued investor appetite for multi-tenant, shallow-bay infill industrial assets in established Midwest markets. The portfolio's location attributes — direct interstate connectivity and proximity to Indianapolis International Airport — position the assets within logistics and flex corridors that have seen sustained occupancy and active portfolio trading.

The 94% occupancy rate across 158 tenants at the time of sale underscores the multi-tenant diversification that has made infill light industrial portfolios an active segment of the Indianapolis investment market. The Park 100 and Park Fletcher submarkets have historically attracted a broad range of industrial users, and the portfolio's configuration — with both dock-high and drive-in loading across buildings of varying sizes — supports that tenant diversity.

About the Transaction Parties

MLG Capital is a private real estate investment firm. Colliers is a global commercial real estate services firm. The Colliers team on this transaction included both Chicago-based Industrial Capital Markets advisors and Indianapolis-based local market specialists.

Sources: Colliers — Sale of Indianapolis West Infill Industrial Portfolio