INDIANAPOLIS, July 9, 2019 /PRNewswire/ -- Working closely with the City of Beech Grove and CSX Transportation, Indianapolis-based Real Estate Recovery Capital (RERC) has acquired a 115- acre former Brownfield site on Emerson Avenue in Beech Grove, Indiana. The property is situated in an industrial/commercial area of the city and has a rare combination of size, industrial zoning, and significant railroad access. The property has been vacant for decades and was most recently used to hold rail cars.
"This property fits our investment criteria for Brownfield-related properties, and we are excited about the opportunity to work with the City of Beech Grove and CSX on the future of the site," said Dwight Stenseth, President of Real Estate Recovery Capital.
"We are pleased to support the City of Beech Grove in attracting industry to meet its transportation needs through rail," said Shantel Davis, CSX, VP Real Estate and Facilities.
Redevelopment of the site is currently in the planning stages.
About Real Estate Recovery Capital
Real Estate Recovery Capital is a real-estate investment firm with a primary focus on purchasing environmentally impaired properties throughout the United States. Because of their dedicated capital and environmental expertise, they can move quickly to close on complicated properties and provide a solution for property owners. Their team has over 70 years of cumulative experience in creating value through environmental remediation and property redevelopment.
Real Estate Recovery Capital
SOURCE Real Estate Recovery Capital