Jones Lang LaSalle Inc.

11/09/2026 | Press release | Distributed by Public on 11/09/2026 09:22

Diamond Properties acquires Shadeland Industrial Park in Indianapolis from i3 Investors

Key Takeaways

  • JLL Capital Markets announces the sale of Shadeland Industrial Park, a 198,000-square-foot, three-building industrial portfolio in Indianapolis
  • JLL represented seller i3 Investors in the transaction with Diamond Properties acquiring the asset
  • The fully leased, infill business park offers strategic access to Indianapolis's I-465 beltway and major interstate corridors serving the Midwest

CHICAGO, Nov. 9, 2026 - JLL Capital Markets announced today the sale of Shadeland Industrial Park, a 198,000-square-foot industrial portfolio located at 3221 N. Shadeland Ave., 3223-3229 N. Shadeland Ave. and 3241-3243 N. Shadeland Ave. in Indianapolis, Indiana.

JLL represented the seller, i3 Investors, in the transaction. Diamond Properties acquired the asset.

Built in 1979, Shadeland Industrial Park consists of three Class B shallow-bay industrial buildings averaging 66,000 square feet each. The property is fully leased to two tenants across four suites, with occupancy serving the interior design and grocery retail sectors. The portfolio features clear heights ranging from 18 to 22 feet, 27 dock-high doors, 15 drive-in doors, wet sprinkler systems throughout and shared truck courts designed to support a range of distribution, warehousing and light industrial users.

The property is strategically positioned just east of downtown Indianapolis with immediate access to Interstate 465 and Interstate 70, providing connectivity throughout the Indianapolis metropolitan area and to major Midwest population centers. The location offers convenient access to Indianapolis International Airport, one of the nation's leading air cargo hubs, as well as the region's extensive network of interstate highways and Class I rail infrastructure that has helped establish Indianapolis as a major logistics and distribution center.

Shadeland Industrial Park benefits from its infill location within Indianapolis' Eastside industrial corridor, providing tenants with access to a large labor pool and some of the region's most established residential and employment centers. The surrounding metropolitan area is supported by a diverse economy anchored by logistics, advanced manufacturing, life sciences and distribution industries, with significant investment from major employers continuing to drive long-term economic growth and business expansion throughout Central Indiana.

The JLL Capital Markets team was led by Senior Managing Director Sean Devaney and Senior Director Ross Bratcher, along with JLL leasing partners Executive Managing Director Brian Seitz and Senior Managing Director Brian Buschuk.

"Assets like Shadeland Industrial Park continue to draw strong investor interest because they combine functional industrial facilities with a tenant roster that has demonstrated a long-term commitment to the property," Devaney said. "The competitive bidding process reflected the market's appetite for stabilized industrial investments with multiple avenues for future value creation."

JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL's newsroom.

About JLL

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

About i3 Investors

Founded in 2013, i3 Investors, LLC ("i3") is an Indianapolis based private real estate investment firm focused exclusively on industrial real estate. Our core investment strategy is to invest patiently and defensively, paying special attention to functionality, optionality, and upside. This is accomplished by achieving a reasonable cost basis, having a diverse income stream, credit tenants with long term leases, tenants with significant investment in the asset, and/or flexibility with multiple exit strategies. We are not interested in recycling capital every few years, but instead are focused on building a diverse portfolio of industrial assets that can be held over the long-term, generating greater tax-and fee-efficient income streams, along with a larger creation of nominal wealth. We manage risk with a high-touch approach to asset management.

About Diamond Properties

Diamond Properties is a commercial real estate business located in Mount Kisco, NY that focuses on the acquisition of commercial properties with potential for substantial improvement through hands-on property management, market repositioning and capital upgrades. Founded in 1995, Diamond Properties has acquired more than 125 properties and currently owns 111+ properties totaling approximately 18 million square feet across 13 states. Its portfolio includes office, medical, industrial, retail, self-storage, residential, lodging and land. Diamond Properties continues to pursue a capital improvement and leasing program that, when combined with quality-driven customer service, has enabled the company to deliver consistently high tenant satisfaction and lease renewal rates.

For more information, visit www.dpmgt.com.

Jones Lang LaSalle Inc. published this content on November 09, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 09, 2026 at 15:22 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]