Welsh Property Trust Acquires Building in Indiana
Welsh Property Trust, LLC, a commercial real estate company headquartered in Minnetonka, on Monday announced that it has purchased a 741,092-square-foot industrial building in Plainfield, Indiana.
The building is currently 100 percent leased by Redcats USA, a Web-driven company that offers apparel, lifestyle and domestic products, and sporting goods through catalogs, online, and in retail stores.
“We are very excited to add the Reeves Road asset to the rapidly growing Welsh Property Trust portfolio,” CEO Scott Frederiksen said in a statement. “The Indianapolis market is a strategic United States distribution hub and Plainfield is the premier industrial market within Indy.”
Frederiksen added that the building has 36-foot ceilings and potential for more than 300,000 square feet of future expansion.
Frederiksen made it clear that the recently bought building will not be Welsh's only commercial real estate purchase in Indianapolis: “We look forward to announcing additional acquisitions within Indianapolis in the near term to complement this asset and expand our presence in that market.”
Welsh Property Trust is a commercial real estate company that owns, operates, and manages industrial properties primarily in the United States. It has five regional offices located throughout the Midwest.