REBusinessOnline

Jones Development Co. Breaks Ground on 2.4 MSF Industrial Business Park Near Indianapolis

WHITELAND, IND. — Jones Development Co. has broken ground on a 2.4 million-square-foot industrial business park in Whiteland, south of Indianapolis. Known as Whiteland Exchange, the development will include speculative industrial buildings designed for logistics, advanced manufacturing and other uses. The project will be situated at the intersection of I-65 and Whiteland Road in Johnson County. The initial two speculative buildings, one spanning 436,800 square feet and the other 168,480 …

BNSF Signs 13,105 SF Office Lease in Downtown Indianapolis

INDIANAPOLIS — BNSF Logistics has signed a 13,105-square-foot office lease at 141 E. Ohio St. in downtown Indianapolis. Crown Property Management owns the historic building, which dates back to 1913. First-floor tenants at the property include Crown Wine & Spirits and Punch Burger. Kevin O’Donnell of Newmark Knight Frank represented BNSF in the lease transaction. BNSF had outgrown its former office space in Indianapolis, which spans 2,500 square

Besyata, Scharf Acquire 328-Unit Apartment Property in Indianapolis

INDIANAPOLIS — Besyata Investment Group and The Scharf Group have acquired Southport Crossing Apartments in Indianapolis for an undisclosed price. Built in 1971, the 328-unit apartment property is located on Southport Road near Greenwood Park Mall. Amenities include a clubhouse, pool and fitness center. The seller was not

Greater Indy Multifamily Sector Draws Interest from Larger Pool of Investors

Demographic shifts and the subsequent demand for affordable housing are currently impacting the greater Indianapolis multifamily sector, but the most marked influence is increased and expanded investor interest. Demographic shifts in population are influencing developers and owners in their long-term decision making when it comes to the multifamily sector. Two primary factors are at play. One, the traditional renter’s segment is changing as millennials age and delay having children. Two, …

Plymouth Industrial REIT Purchases Facility in Indianapolis for $17.1M

INDIANAPOLIS — Plymouth Industrial REIT Inc. has purchased a multi-tenant, Class B industrial building in Indianapolis for $17.1 million. Located on Sam Jones Expressway, the 484,879-square-foot property is situated in the Southwest submarket in close proximity to the Indianapolis International Airport. The facility is fully leased by Phoenix Material Management, a provider of container management solutions, and Quemetco Inc., a subsidiary of RSR Corp. that recycles lead-based

Strawberry Fields REIT Sells Medical Office Building in Indiana for $6.1M

VALPARAISO, IND. — Strawberry Fields REIT LLC has sold The Glendale Medical Center in Valparaiso for $6.1 million. The property features a 20,207-square-foot main building constructed in 1967 and an 8,630-square-foot annex building constructed in 2007. The main building was renovated in conjunction with the construction of the annex building. Strawberry Fields sold the property because it was not within the company’s core investment strategy of owning and managing skilled nursing …

Marcus & Millichap Negotiates $3.6M Sale of Property Net Leased to Fresenius in Northwest Indiana

EAST CHICAGO, IND. — Marcus & Millichap has negotiated the $3.6 million sale of a 9,109-square-foot property net leased to Fresenius Medical Care in East Chicago, about 23 miles southeast of the Windy City. Fresenius has signed a new 15-year lease at the building, which is located at 4016 Main St. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller. An out-of-state buyer purchased the asset. Fresenius specializes in the production of …

Browning Breaks Ground on New Headquarters for First Internet Bank in Fishers, Indiana

FISHERS, IND. — Browning has broken ground on a new corporate headquarters for First Internet Bank in downtown Fishers. The bank’s existing office is located about two miles east of the new site. Plans call for a six-story, 168,000-square-foot building with ground-floor retail space. It is the first building to be constructed within a mixed-use development along 116th Street in the Nickel Plate District. Completion is slated for fall 2021. Envoy Cos. is serving as the owner’s …

NKF Brokers Sale of 676,322 SF Regional Mall in Terre Haute, Indiana

TERRE HAUTE, IND. — Newmark Knight Frank (NKF) has brokered the sale of Honey Creek Mall in Terre Haute for an undisclosed price. JC Penney and Vendor’s Village anchor the 676,322-square-foot regional mall. Additional retailers include American Eagle, Bath & Body Works, Hollister, Shoe Dept. Encore and Ulta Beauty. Located near I-70, the property is the only enclosed regional mall within a 50-mile radius. Thomas Dobrowski of NKF represented the seller, CBL Properties. The property sold …

Ranger Power to Build $175M Solar Project in Shelbyville, Indiana

SHELBYVILLE, IND. — Ranger Power has unveiled plans to build a $175 million, 199-megawatt solar project in Shelbyville, about 30 miles southeast of Indianapolis. Ranger Power plans to begin building the project in 2022 with completion slated for 2023. Upon completion, the plant will generate enough power to serve 35,000 households. Electricity generated by the project will be distributed exclusively through Indianapolis-based Wabash Valley Power Association, a wholesale electric supplier to …

Conferences