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

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%.