BlackRock-Linked Buyer Pays $103M for the Cummins-Leased Building in Whiteland

Daniel BurkePublished every day

Dallas-based Mohr Capital sold Building 6 of its Mohr Logistics Park in Whiteland, Johnson County, a 1.06 million square foot facility fully leased to Cummins through August 2036, for $103 million in a deal that closed in late September. The buyer, St. Louis-based HPS ET Whiteland LLC, is managed by Elmtree Funds, which BlackRock fully acquired in September 2025, making BlackRock's net-lease platform the real counterparty behind the purchase rather than the boutique investor the listing implied.

The building sits inside a larger consolidation. Cummins has used this Whiteland site to justify closing its Whitestown distribution center, cutting 59 jobs there, and shifting work that FedEx Supply Chain had handled out of Memphis, displacing more than 600 jobs in that market. The Indiana investment on paper is tied to real job losses elsewhere in Cummins' own network, and lease-up progress on Mohr's two new 950,000 square foot spec buildings at the same park is worth tracking given Indianapolis industrial vacancy sits near 7%.

Impact

Elmtree Funds was fully acquired by BlackRock in September 2025, meaning the real counterparty behind this $103 million purchase is BlackRock's net-lease platform betting on Cummins' credit, not a boutique PE shop as the original listing described it. The building itself is the linchpin of a larger consolidation: Cummins has used this Whiteland site to justify closing its Whitestown distribution center (59 jobs) and shifting work once handled in Memphis by FedEx Supply Chain (600+ jobs displaced), meaning this Indiana 'win' is tied to real job losses in other communities within Cummins' own network.

Watch

Lease-up progress on Mohr's two new 950,000-square-foot spec buildings at the park, as Indianapolis industrial vacancy sits near 7%.

For the huddle

As our logistics partners consolidate distribution footprints the way Cummins just did, are we tracking which of our own regional hubs could be the next one declared redundant?

Check your own lease agreements for change of ownership clauses and rent escalation triggers tied to a sale. A financial buyer's priorities are not the same as an operating company's, and that difference can show up in maintenance response times and future rent negotiations.

Sources

Colliers Arranges Sale of 1.1 MSF Industrial Facility Near Indianapolis · rebusinessonline.com

Earlier coverage

From the brief, October 9, 2026

Nucor's $105M Crawfordsville Expansion Adds to the Indiana Welding Workforce Shortage
Amazon's $100M Greenwood Robotics Plant Pulls From the Same Labor Pool
Doral Brings the Final 900 MW of Mammoth Solar Online in Pulaski County
West Lafayette Splits $500M in SK hynix Tax Revenue, Advances $85M Sewer Expansion
BlackRock-Linked Buyer Pays $103M for the Cummins-Leased Building in Whiteland

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