Marcus & Millichap is pleased to present the opportunity to acquire the property located at 6480 Melton Road in Portage, Indiana (also known as 6470 Melton Road). The subject property consists of approximately 11,928 square feet of warehouse space and is situated on 2.97 acres of land. The multi-tenant asset features a clear height of 24’, seven grade-level doors, two HVAC units, metal roofing, LED lighting, and three-phase heavy power with 480 volts and 400 amps. With a building coverage ratio of just 9 percent, the property has ample industrial outdoor storage (IOS) space. In recent years, the property has undergone numerous upgrades, such as beautification of the building’s facade, renovation of the office space, installation of two Generac generators, and resurfacing of the parking lot. Situated along Interstate 94, the property sits in close proximity to the 385-acre mixed-use business park known as AmeriPlex at the Port.
The tenant Xorco Technology & Automation occupies 2,988 square feet of space within the property and is leased through December 2025 at $10.96 per square foot with two one-year renewal options. The remaining 8,940 square feet are currently occupied by the owner, Northern Plant Services. Upon sale of the property, Northern Plant Services plans to vacate the property but will consider a short-term partial leaseback, creating an owner-user or lease-up investment opportunity. In business since 1999, Northern Plant Services provides industrial cleaning and environmental field services to transportation, steel, refining, power, chemical, and auto industries.
The subject property is situated within Porter County, a midsized submarket containing 22.4 million square feet of industrial space. The Porter County industrial submarket is highlighted by the U.S. Steel Corporation Midwest Plant, spanning 2.3 million square feet. Over the last decade, the submarket has experienced minimal growth and did not have a single industrial delivery in 2024. In Q1 2025, net absorption contracted slightly by about -43,000 square feet as 115,000 square feet were delivered. As a result, the vacancy rate only increased 70 basis points to 3.1 percent, sitting well below the 7.1 percent national average (based on top 50 metros, minimum 10,000 square feet, Classes A, B, and C). Despite availability remaining tight in Porter County, annual rent growth remained near a decade’s low at 1.6 percent, pushing the average market rent to $8.90 per square foot. At the start of Q2, only about 100,000 square feet of industrial space were under construction, making up less than 1 percent of the inventory. Due to a lack of new supply, demand will continue to drive rents and vacancies for the foreseeable future in Porter County (CoStar).
Known as the Greater Chicagoland area, Chicago-Naperville-Elgin is the third-largest metro in the nation. The metro houses 9.3 million people, including 2.7 million residents within the city of Chicago. The number of corporate headquarters in Chicago is second only to New York City and is home to 30 Fortune 500 companies. Thanks to eight commercial and passenger rail lines, the Port of Chicago, three international airports, and a vast network of freeways, Chicago is a major distribution and logistics hub. The local economy and workforce are highly diverse, supported largely by distribution, finance, manufacturing, and high-tech industries. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 50 wards, and eight major league sports teams, including two MLB teams. Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing affordable housing in attractive and economically sound communities, ensuring accessibility for all, and fostering, social, economic, and environmental sustainability (Chicago.gov).
BROKER OF RECORD
JOSH CARUANA
Indiana Broker of Record
600 East 96th Street, Suite. 500
Indianapolis, IN 46240
Tel: (317) 218-5300
License #: RB14034355
Josh.Caruana@MarcusMillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2025 Marcus & Millichap. All rights reserved. (Activity ID: ZAG0370290)
