Mohr Capital announces sale of a 1,057,350-square-foot Indiana warehouse

Mohr Capital announced the sale of Lot 6, a 1,057,350-square-foot industrial building at 5741 North Graham Road in Whiteland, Indiana, about 20 miles south of Indianapolis and inside the developer's own Mohr Logistics Park; Cummins occupies the facility, which the announcement describes as modern bulk warehouse space with 40-foot clear heights. Connect CRE first reported the sale, though neither the buyer nor the terms were disclosed and the coverage does not say whether the transaction has closed.

Lot 6 is one building inside a much larger plan: Mohr Logistics Park covers roughly 475 acres along the I-65 corridor and was master planned for nearly 7 million square feet of industrial space, which puts this building at something close to 15% of the eventual build-out. Mohr said it will keep ownership of the remainder of the park and continue its long-term investment in the development, leaving the seller with the land, the pad sites, and whatever phases have yet to be built.

For anyone trying to mark Indianapolis bulk, the number that matters is the one missing. A single-tenant warehouse of just over a million square feet with 40-foot clear heights is the sort of product these parks exist to deliver, and a published price would have handed brokers and appraisers a fresh marker for the submarket. Without one, the trade yields square footage, a location, and a tenant, and nothing that drops cleanly into a comp set. The buyer is equally opaque: whether the asset went to an institutional account, a fund, or private capital simply is not in the announcement.

Tenancy does much of the pricing in trades of this shape, and this publication made a version of that argument about Related's $33 million Wynwood sale, where the deal turned on a single tenant lease rather than the surrounding submarket. Lot 6 is similar in kind, one building with one occupant and a park filling in around it, though the Cummins lease terms and the buyer's basis stay out of view, and Cummins's presence is offered in the announcement only as evidence that the building suits large-scale industrial users.

What Mohr keeps is the rest of Whiteland, and that is where the next read on the corridor comes from. The park still has space to deliver against the nearly 7 million square feet its master plan contemplates, and unlike Lot 6, those sales will have to be priced in the open. The first one that arrives with a number attached becomes the comp, for the submarket and for Mohr's remaining phases.