Hillwood Buys 550 KSF Indianapolis Warehouse

Lauth Group Inc. has sold 70 Connect II, a 554,228-square-foot, Class A industrial facility in Greenfield, Ind. Hillwood was the buyer, while Colliers brokered the transaction on behalf of the seller.

The property sold for $41.7 million, or $75 per square foot, according to Yardi Matrix information. Pinnacle Financial Partners originated a $29 million loan for the sale, due to mature in 2029.

Upon closing the deal, the property was fully leased by Yusen Logistics, a subsidiary of Nippon Yusen Kabushiki Kaisha.

The warehouse is part of a master-planned industrial park in Mount Comfort, Ind., dubbed 70 Connect. Located at 7383 W. 350 N., the building came online in 2022 on some 32 acres just off interstates 70 and 465. Indianapolis Regional Airport is 2 miles east, while downtown Indianapolis is roughly 16 miles west.

Zoom in on the Indiana facility

Clear heights at 70 Connect II reach 36 feet. The building has 50-foot by 60-foot column spacing, an electrical capacity of 2,600 amps and a voltage capacity of 480 volts. The cross-docking facility includes 60 dock-high doors and four grade-level loading doors, as well as dock levelers and bumpers.

The property encompasses an office space, an ESFR sprinkler system and a 140-foot truck court. In addition, some 70 trailer parking stalls and a 250-space car parking area are at grade level.

Colliers ranked third in CPE‘s top real estate brokerage companies of 2025. The firm’s team for this transaction included Vice Chair Alex Cantu, Executive Vice Presidents Alex Davenport and Korey Ryan, Principals & Vice Chairs Jeff Devine and Steve Disse, Senior Vice President Tyler Ziebel and Vice Chair Cam Kucic.

In the first two months of the year, industrial sales in Indianapolis totaled $80 million, according to the latest Yardi Matrix report. The average price per square foot in the metro reached $116, lower than the national average of $144 per square foot.