Indiana

Clark’s Crossing Senior Facility to Open in Vincennes, Ind.

by Danielle Everson March 16, 2015

VINCENNES, IND. — Flaherty & Collins Properties and Myszak + Palmer will host a grand opening ceremony for Clark’s Crossing, a senior living center in Vincennes on March 18. The property is located at 300 N. 6th St. Clark’s Crossing features 47 one- and two-bedroom apartment homes, which include fully equipped kitchens with energy efficient appliances, hardwood flooring, oversized closets, and washers and dryers. The project is an adaptive reuse of two historic buildings. The development used the sale of historic tax credits and rental housing tax credits to turn the two buildings into a senior living facility. A collaborative effort between Myszak + Palmer, Flaherty & Collins Properties, Vincennes Community School Corporation (VCSC), The Vincennes Education Foundation and Vision Communities, the project involved the reuse of the old Clark Middle School and Adams Coliseum. Part of the project included the restoration of Adams Coliseum, which included the addition of new, brighter lighting, painted bleachers and new windows at the historic gym. Adams Coliseum will be run by The Vincennes Education Foundation, and will include programming that will encourage resident and community interaction. Kuhl & Grant LLP provided legal services and McKinley Development LLC provided consulting services on the project. …

March 16, 2015

Healthcare Indiana Midwest

Holladay Properties Arranges 16,280 SF Lease of Medical Office building in Dyer, Ind.

by Danielle Everson March 9, 2015

DYER, IND. — Holladay Properties has arranged a 16,280-square-foot lease of a medical office building in Dyer. Franciscan Alliance will occupy space within the Medical Pavilion South building located on the campus of Franciscan Saint Margaret Hospital. Holladay Properties provides leasing and property management services for Medical Pavilion South, a 63,486-square-foot, three-story medical office building. The Franciscan Alliance will open the Program of All-inclusive Care for the Elderly (PACE) Senior Health and Wellness facility on the third floor of the building. The facility provides primary care, diagnostics, physical therapy, occupational therapy, dietician, social worker, CNA, home health support, recreational services as well as access to specialists in cardiology, ophthalmology, dermatology, orthopaedics and geriatrics. The Franciscan Alliance currently operates a similar Senior Health and Wellness Center in Indianapolis. Michael O’Connor of Holladay Properties represented the building owner in the transaction. Holladay Properties also provides property management services for the project.

March 9, 2015

Indiana Midwest Multifamily Seniors Housing

Mainstreet, Trilogy Health Services Open Transitional Care Facility in Indiana

by Danielle Everson March 6, 2015

TERRE HAUTE, IND. — Mainstreet and Trilogy Health Services is opening Harrison’s Crossing Health Campus, a 102-bed, 68,000-square-foot transitional care (short-stay rehabilitation and therapy) and assisted living facility, this month. The property is located at 395 8th Ave. in Terre Haute. Construction on Harrison’s Crossing Health Campus began in November 2013. Mainstreet developed the facility and Trilogy operates the property. Harrison’s Crossing Health Campus will offer amenities including a large therapy gym, outdoor rehabilitation courtyard, movie theater, game room, spa and an on-site chef. The project, which represents a total investment of $15 million in the community, created 317 construction jobs and 100 permanent jobs.

March 6, 2015

Indiana Midwest Multifamily

Tikijian Associates Brokers Sale of 208-Unit Apartment Property in Indianapolis

by Danielle Everson March 6, 2015

INDIANAPOLIS — Tikijian Associates has brokered the sale of Parc Bordeaux Apartments, a 208-unit apartment community in Indianapolis. The sale price was undisclosed, but the property was listed at $8.7 million. Originally built in 1968, Parc Bordeaux underwent a $3.2 million rehab in 2002 following a tornado. Tikijian Associates represented the seller, Fowler Property Acquisitions. The buyer was an affiliate of Birge & Held Asset Management LLC, an Indianapolis-based private equity and property management firm. The buyer plans to continue making upgrades at the property.

March 6, 2015

Indiana Industrial Midwest

Ozburn-Hessey Logistics Signs 450,000 SF Industrial Lease in Plainfield, Ind.

by Danielle Everson March 5, 2015

PLAINFIELD, IND. — Transpacific Development Co. (TDC) has executed a lease with Ozburn-Hessey Logistics (OHL) for 450,000 square feet of distribution space at 2450 Stanley Road in Plainfield. TDC acquired the newly-constructed building in 2013. The building features a 32-foot ceiling height, 40 dock doors in a cross-dock configuration, T-5 lighting and three entrances. With this transaction, OHL now leases three full buildings from TDC in the Plainfield submarket. Jeb Atkinson, Jess Andrews, Brian Camp and Doug McDowell of ProVenture represented OHL in the lease. Steve Schwegman of JLL assisted in the lease transaction. Michael Weishaar and Luke Wessel of DTZ represented the landlord.

March 5, 2015

Indiana Industrial Midwest Ohio

DTZ Sells Two Industrial Properties for $8.3M

by Danielle Everson March 4, 2015

MASON, OHIO AND NORTH VERNON, IND. — DTZ has brokered the $8.3 million sale of two single-tenant industrial properties located in Mason and North Vernon. The Cincinnati Fan property, situated on 17.6 acres, is located at 7697 Snider Road in Mason, northeast of Cincinnati. The 122,898-square-foot industrial manufacturing facility was sold to Robinson & Sons LLC for $4.7 million. Cincinnati Fan and Ventilator will continue to operate in the property. In the other transaction, Agracel Inc. acquired a manufacturing facility in North Vernon from Martinrea Industries. The 140,960-square-foot building, situated on 11.5 acres, sold for $3.6 million. Martinrea Industries, a Tier I automotive supplier, will continue to operate in the facility on a long-term lease. DTZ’s capital markets and industrial leasing teams represented owners Cincinnati Fan and Martinrea Industries in both investment sales transactions.

March 4, 2015

Hospitality Indiana Midwest Mixed-Use

21c Museum Hotels Plans to Redevelop Old City Hall in Downtown Indianapolis

by Danielle Everson February 27, 2015

INDIANAPOLIS — 21c Museum Hotels plans to redevelop Old City Hall in downtown Indianapolis into a museum and hotel space. The $55 million project will be redeveloped following the approval of city and other financing incentives. The project will include the rehabilitation of Old City Hall and the construction of a new addition on the adjacent parcel into a 21c Museum Hotel and unique tenant space. The property will feature a boutique hotel with approximately 150 rooms, guest suites with private terraces on the rooftop, art-filled meeting and event spaces. The tenant space will occupy the second, third and fourth floors of Old City Hall. The property will also feature rotating exhibitions that reflect the global nature of art today, as well as site-specific installations and cultural programming. 21c will manage the tenant spaces and work with the city to lease space to arts-related tenants. New York-based architects Deborah Berke Partners will design the property. 21c will secure approximately $29 million in project financing, which includes equity and debt. The company will also work closely with the city to apply for an $11.3 million federal loan through the U.S. Department of Housing and Urban Development Section 108 program, which will …

February 27, 2015

Indiana Midwest Restaurant Retail

Dunkin’ Donuts to Develop 46 New Stores in Indiana

by John Nelson February 20, 2015

INDIANAPOLIS, FORT WAYNE AND LAFAYETTE, IND. — Dunkin’ Donuts has signed multi-unit store development agreements with two existing franchise groups to build 46 restaurants in Indiana over the next several years. Existing franchise group Kings Point Ventures plans to develop 38 Dunkin’ Donuts restaurants in Indianapolis and Fort Wayne, 10 of which will be located outside of the major metropolitan area. The group currently operates more than 70 Dunkin’ Donuts restaurants in several states. Existing franchisee Bud Patel plans to develop eight Dunkin’ Donuts locations in Lafayette and Indianapolis. Three of these new restaurants will be located in smaller towns and communities outside Lafayette and Indianapolis. Patel currently operates more than 20 Dunkin’ Donuts restaurants in the metro Chicago area and Davenport, Iowa. Jay Punukollu, Patel’s partner, will be responsible for overseeing the daily restaurant operations in Lafayette. The duo’s first restaurant is planned to open in 2016, and the remainder by 2019. Currently, there are nearly 30 Dunkin’ Donuts restaurants located throughout Indiana, and the company is continuing to recruit franchisees in the cities of Evansville and Terre Haute.

February 20, 2015

Indiana Midwest Retail

Baceline Investments Acquires Retail Center in Indianapolis for $2.5 Million

by Danielle Everson February 17, 2015

INDIANAPOLIS — Baceline Investments LLC has acquired Madison & Edgewood Shoppes, a 48,716-square-foot retail center in Indianapolis, for $2.5 million. The property is located at 5855 Madison Ave. Baceline Investments acquired the property from Florida-based HPH FUND I D4 LLC, an affiliate of HPH Capital Management LLC. The property was 68 percent occupied at the time of sale. Tenants include Great Clips, Edward Jones, Hallmark and Edgewood Family Dental. The retail center’s anchor tenant, Kroger, is not part of the acquisition.

February 17, 2015

Indiana Midwest Multifamily

Flaherty & Collins to Break Ground on $121M Luxury Apartment Complex in Indianapolis

by Danielle Everson February 16, 2015

INDIANAPOLIS — Developer Flaherty & Collins Properties will break ground on a 28-story, $121 million mixed-use luxury residential apartment tower on the north parcel of the former site of Market Square Arena. The property is located at the corner of Market and Alabama streets in downtown Indianapolis. The development consists of 292-luxury one-, two- and three-bedroom apartments. The units will feature floor-to-ceiling glass, solar shades, quartz countertops in kitchens and baths, gourmet kitchens with energy-efficient appliances that include side-by-side refrigerators and recessed balconies. Select units will include private terraces.The development, at nearly 300 feet tall, will also feature a 40,000-square-foot Whole Foods Market. A groundbreaking ceremony for the project will take place on Wednesday, Feb. 18.

February 16, 2015

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