INDIANAPOLIS-Bianco Properties, based in St. Louis, has made one of its first industrial property purchases with the $15.1 million acquisition of a 343,200-sf industrial portfolio here. First Industrial Properties Trust sold the two buildings at 8219 and 8227 Northwest Blvd. at a 7.4% cap rate, sources say. The Chicago-based REIT had bought the properties for $11.3 million in October 2003.

John Huguenard, Angela Wethington and Kimberly Estes with Colliers Turley Martin Tucker in Indianapolis represented the seller in the transaction. “In the four years, First Industrial had repositioned the property and increased its value,” he tells

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