INDIANAPOLIS — Diamond Properties bought Shadeland Industrial Park, a 198,000-square-foot, three-building industrial portfolio on Indianapolis' east side, from i3 Investors, JLL Capital Markets announced Nov. 9. The price was not disclosed.
The property sits at 3221, 3223-3229 and 3241-3243 N. Shadeland Ave., near Interstates 465 and 70. Built in 1979, the three Class B shallow-bay buildings average 66,000 square feet each and are fully leased to two tenants across four suites, serving the interior design and grocery retail sectors; the release does not name the tenants. The buildings have 18- to 22-foot clear heights, 27 dock-high doors and 15 drive-in doors. Diamond Properties, based in Mount Kisco, N.Y., says it owns 111-plus properties totaling about 18 million square feet in 13 states. The release describes no new jobs or investment.
ON THE RADAR: DEAL
Buyer: Diamond Properties
Seller: i3 Investors
Tenants: Two tenants (not named)
Property: Shadeland Industrial Park, 3221–3243 N. Shadeland Ave., Indianapolis, Ind.; 198,000 sq ft in three buildings, built 1979
Price: Not disclosed
Broker: JLL Capital Markets (for the seller)
Type: Acquisition (leased industrial portfolio)
Announced: Nov. 9, 2026
Read the JLL announcement →
In the Tracker: All Indiana projects