Indiana

TWG to Build $58M Apartment Complex in Indianapolis

by Kristin Harlow October 28, 2021

INDIANAPOLIS — Developer TWG has unveiled plans to build Rise on Meridian, a $58 million apartment complex on the southside of Indianapolis. Located at 915 S. Meridian St., the project will rise six stories with 269 units and 3,500 square feet of retail space. Amenities will include a pool, lounge, courtyard, dog park, second-floor balcony, coworking space, bicycle storage and garage parking. Construction is expected to begin this month, with the first units becoming available in winter 2023. The units will vary from 562 to 954 square feet, and monthly rents will range between $1,200 and $2,100. The City of Indianapolis contributed tax-increment financing bonds, enabling 5 percent of the units to be reserved for residents who earn at or below 30 percent of the area median income.

October 28, 2021

Acquisitions Indiana Industrial Midwest Self-Storage

StorageMart Acquires 73,183 SF Self-Storage Facility in Fishers, Indiana

by Kristin Harlow October 27, 2021

FISHERS, IND. — StorageMart has acquired a 73,183-square-foot CubeSmart Self Storage facility in Fishers, a suburb of Indianapolis. The purchase price was undisclosed. Located at 10415 Allisonville Road, the property features 41 percent drive-up units and 59 percent interior, climate-controlled units. David Paulson, Stephen Lapierre and Wyatt Whitaker of Ackerman & Co., along with Steven Cornblatt and Coleman Tirone of Trout Daniel & Associates, represented StorageMart. Georgia-based York Allison LLC was the seller. This is StorageMart’s third location in Indiana. The property’s lighting, security system and gate entry will be updated.

October 27, 2021

Indiana Loans Midwest Retail

Ariel Property Advisors Arranges $2.8M Loan for Refinancing of Walgreens-Occupied Property in Decatur, Indiana

by Kristin Harlow October 20, 2021

DECATUR, IND. — Ariel Property Advisors has arranged a $2.8 million loan for the refinancing of a 15,000-square-foot retail property occupied by Walgreens in Decatur, about 20 miles southeast of Fort Wayne. The property is located at 123 N. 13th St. Matt Dzbanek and Matt Swerdlow of Ariel arranged the five-year loan, which features a fixed interest rate of 3.99 percent. A national credit union provided the loan on behalf of the undisclosed borrower.

October 20, 2021

Acquisitions Illinois Indiana Industrial Midwest

Industrial Outdoor Ventures Acquires Two Properties Totaling 62,000 SF in Illinois, Indiana

by Kristin Harlow October 18, 2021

AURORA, ILL. AND WHITESTOWN, IND. — Industrial Outdoor Ventures (IOV) has acquired a 39,450-square-foot property at 1401 N. Farnsworth Ave. in Aurora as well as a 22,500-square-foot facility at 4212 Perry Blvd. in Whitestown. The seller and purchase price were undisclosed. IOV owns properties in the outdoor storage facility space. Both of these properties are designed for truck maintenance and repair and are fully occupied by MacQueen, an environmental and emergency service and products provider. Kate Coxworth, Dominic Carbonari and Frank Griffin of JLL represented IOV in the acquisition.

October 18, 2021

Development Indiana Industrial Midwest

CA Industrial, Clarion Partners Break Ground on 708,000 SF Spec Industrial Project in Greenwood, Indiana

by Kristin Harlow October 15, 2021

GREENWOOD, IND. — CA Industrial and Clarion Partners have broken ground on the Indy South Logistics Center, a two-building speculative industrial development spanning 708,000 square feet in Greenwood, about 12 miles south of Indianapolis. Completion of both buildings is slated for summer 2022. Situated at 955 N. Graham Road, the project will offer immediate access to I-65 and I-465. The Peterson Co. is the general contractor. JLL’s Steve Schwegman and Brian Seitz will market the project for lease.

October 15, 2021

Acquisitions Indiana Midwest Retail

Hanley Investment Group Negotiates $2.4M Sale of Planet Fitness-Occupied Property in Fort Wayne

by Kristin Harlow October 13, 2021

FORT WAYNE, IND. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a single-tenant retail property net leased to Planet Fitness in Fort Wayne for $2.4 million. Located at 7528 S. Anthony Blvd., the building spans 20,000 square feet. The former Kmart property was recently redeveloped into a Planet Fitness location as well as a self-storage facility. Dylan Mallory of Hanley represented the seller, a private partnership between locally based McCormack Development and Jackson Investment Group. A Southern California-based private investor was the buyer.

October 13, 2021

Acquisitions Indiana Midwest Retail

Newmark Brokers Sale of Indiana Retail Portfolio for $10.5M

by Kristin Harlow October 12, 2021

INDIANA — Newmark has brokered the sale of a four-property retail portfolio in Indiana for approximately $10.5 million. The portfolio includes a Starbucks, Dollar Tree and two CVS properties for a total of 34,814 square feet. Specific addresses and cities were not provided. Matt Berres, Samer Khalil and Jenna Barnett of Newmark represented the seller, a private developer. The team also procured the buyer, a REIT.

October 12, 2021

Indiana Loans Midwest Multifamily

Columbia Pacific Advisors Provides $66M Bridge Loan for Acquisition of Apartment Community in South Bend

by Kristin Harlow October 6, 2021

SOUTH BEND, IND. — Columbia Pacific Advisors Bridge Lending has provided a $66 million bridge loan to fund the acquisition of Prosper Apartments in South Bend. The 739-unit, garden-style apartment community is located at 3001 E. Jefferson Blvd. The property comprises 28 buildings across 47 acres. Amenities include a theater room, fitness center, indoor pool, billiards room, playground, dog park and community room. H&A Properties was the borrower. The property was 99 percent leased at the time of loan closing. Loan terms were not disclosed.

October 6, 2021

Acquisitions Healthcare Indiana Life Sciences Midwest

CA Health and Science Trust Acquires Three-Building Medical Office Complex in Northwest Indiana

by Kristin Harlow October 4, 2021

MUNSTER, IND. — CA Health and Science Trust Inc. (CAHST), a newly formed private REIT focused on the acquisition and development of medical office and life sciences facilities, has acquired a three-building medical office complex in Munster for an undisclosed price. Munster is located about 30 miles southeast of the Chicago Loop. The buildings total more than 113,200 square feet and are home to ambulatory surgery centers. The sale also includes adjacent land parcels for the potential development of up to 50,000 square feet of additional medical office space. The acquisition is part of an equity commitment of up to $245 million from partners Davidson Kempner Capital Management LP, Monarch Alternative Capital LP and CA Ventures. Mike Wilson, Erik Foster and Jim Kornick of Avison Young represented the seller, LBC Owner LLC.

October 4, 2021

Acquisitions Indiana Midwest Multifamily Retail

JVM Realty Acquires Apartment, Retail Developments in Fishers, Indiana

by Kristin Harlow September 30, 2021

FISHERS, IND. — JVM Realty Corp. has acquired The Mark at Fishers District, a 260-unit luxury apartment community in Fishers, a northern suburb of Indianapolis. The company has also acquired Fishers District, an 18-acre development with 98,186 square feet of fully leased retail and restaurant space. A dual-branded Hyatt House and Hyatt Place hotel is also on the site but was not part of the sale. JVM plans to use its in-house management and marketing teams for the residential component, but will engage a national expert in retail services to assist with management of the retail portion. George Tikijian and Hannah Ott of Cushman & Wakefield represented the seller, Thompson Thrift. The sales price was not disclosed.

September 30, 2021

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