Press Releases
Marcus & Millichap Arranges Sale of Class A Industrial Property in Hillsdale, Indiana
May 21, 2026
HILLSDALE, Ind., May 21, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 222 Broadway Avenue, a 50,000-square-foot Class A spec built industrial warehouse finished to grey shell in Hillsdale, Indiana. Originally offered with 9 acres, the buyer elected to purchase the entire 32.6-acre parcel. The property sold for $4.375 million, or $87.50 per square foot.
“We sourced several out-of-state and foreign companies seeking to expand operations to our great state of Indiana,” said Julia Evinger, managing director investments. “The grey shell finish allowed potential buyers to plan for plumbing, power and reinforced floor areas needed for their operations. Along with an expansion wall, this attracted many operators and was one of the considerations for the successful buyer. Vermillion Rise Mega Park is located along the Indiana-Illinois border on Indiana 63, a four-lane divided highway with easy access to Interstate 74 and Interstate 70, making it an ideal location for companies needing interstate access for the distribution.”
Evinger, an industrial investment specialist in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, Garmong Development Company, LLC.
“Julia Evinger and her colleagues at Marcus & Millichap have done a superb job marketing the spec building at Vermillion RISE and bringing on board an owner that fits well into our community,” said Willie Wyres, president of Vermillion RISE. “We look forward to the next building development at The RISE.”
RJ Dunavan, president of the Vermillion County Commissioners, who provided seed funding for the development of the spec building, said, “Vermillion County is open for business, and the county appreciates the completion of this land and building transaction with a company that worked diligently to become part of and invest in this great community. Thank you.”
The subject industrial property is situated on 32.6 acres within the 7,155-acre Vermillion Rise Mega Park, home to a growing base of logistics, manufacturing and industrial users.
“We sourced several out-of-state and foreign companies seeking to expand operations to our great state of Indiana,” said Julia Evinger, managing director investments. “The grey shell finish allowed potential buyers to plan for plumbing, power and reinforced floor areas needed for their operations. Along with an expansion wall, this attracted many operators and was one of the considerations for the successful buyer. Vermillion Rise Mega Park is located along the Indiana-Illinois border on Indiana 63, a four-lane divided highway with easy access to Interstate 74 and Interstate 70, making it an ideal location for companies needing interstate access for the distribution.”
Evinger, an industrial investment specialist in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, Garmong Development Company, LLC.
“Julia Evinger and her colleagues at Marcus & Millichap have done a superb job marketing the spec building at Vermillion RISE and bringing on board an owner that fits well into our community,” said Willie Wyres, president of Vermillion RISE. “We look forward to the next building development at The RISE.”
RJ Dunavan, president of the Vermillion County Commissioners, who provided seed funding for the development of the spec building, said, “Vermillion County is open for business, and the county appreciates the completion of this land and building transaction with a company that worked diligently to become part of and invest in this great community. Thank you.”
The subject industrial property is situated on 32.6 acres within the 7,155-acre Vermillion Rise Mega Park, home to a growing base of logistics, manufacturing and industrial users.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
