Indiana

Cushman & Wakefield Brokers Sale of 2,103-Unit Multifamily Portfolio in Indiana

by Kristin Harlow July 19, 2022

INDIANA — Cushman & Wakefield has brokered the sale of a six-property multifamily portfolio totaling 2,103 units in Indiana for an undisclosed price. The portfolio includes Boardwalk at Westlake, Elliot at College Park, Lakeshore Reserve off 86th, Lakeside Crossing at Eagle Creek, Parkside at Castleton Square and Preserve at Allisonville. George Tikijian, Hannah Ott and Cameron Benz of Cushman & Wakefield represented the seller, a joint venture between Wilkinson Corp. and Torchlight Investors. Morgan Properties was the buyer. The seller renovated a number of units, and the buyer plans to continue doing so.

July 19, 2022

Acquisitions Indiana Midwest Retail

Marcus & Millichap Arranges $4.3M Sale of Retail Property in Chesterton, Indiana

by Kristin Harlow July 18, 2022

CHESTERTON, IND. — Marcus & Millichap has arranged the $4.3 million sale of a 12,400-square-foot retail property in Chesterton, a city in Northwest Indiana. The newly constructed asset is located at 600 Gateway Blvd. and is leased to several local restaurants. Mitchell Kiven of Marcus & Millichap marketed the property for sale on behalf of the seller, a developer. Damien Yoder and Madison Harman of Marcus & Millichap represented the buyer, a Georgia-based limited liability company. The sales price was above the asking price.

July 18, 2022

Development Healthcare Indiana Midwest

Catalyst, National Break Ground on 26,000 SF Emergency Department Building in Fort Wayne

by Kristin Harlow July 8, 2022

FORT WAYNE, IND. — Catalyst Healthcare Real Estate and National Real Estate Advisors LLC have broken ground on a 26,000-square-foot freestanding emergency department (FSED) building in Fort Wayne. Lutheran Health Network will occupy the facility. The two-story building will offer emergency services, imaging services, lab space and primary care services. A timeline for completion was not provided.

July 8, 2022

Acquisitions Healthcare Indiana Midwest

PRECAP Brokers $4.1M Sale-Leaseback of Northwest Indiana Orthopedic Facility

by Kristin Harlow July 7, 2022

MERRILLVILLE, IND. — Physician Real Estate Capital Advisors (PRECAP) has brokered the $4.1 million sale-leaseback of the Bone & Joint Specialists orthopedic facility in Merrillville, a city in Northwest Indiana. The 15,504-square-foot property is located at 9001 Broadway and is adjacent to the Methodist Hospitals Southlake Campus. Bone & Joint Specialists has operated out of the property since 2008. Scott Niedergang of PRECAP, along with JDS Real Estate Services Inc., represented the seller, a physician partnership. The team also represented the buyer, a REIT focused on healthcare real estate.

July 7, 2022

Acquisitions Indiana Industrial Midwest

Avison Young Brokers Sale of 979,264 SF Industrial Building in Metro Indianapolis

by Kristin Harlow June 24, 2022

INDIANAPOLIS — Avison Young has brokered the sale of Building 5 within Whiteland Exchange Business Park in the Indianapolis suburb of Whiteland. The sales price was undisclosed. Sean McHale and Peter Seoane of Avison Young represented the seller, Jones Development. DHL Supply Chain was the buyer. Avison Young was also the leasing agent for Whiteland Exchange, which totals 2.4 million square feet.

June 24, 2022

Indiana Industrial Leasing Activity Midwest

Trends International Renews 180,000 SF Industrial Lease in Indianapolis

by Kristin Harlow June 23, 2022

INDIANAPOLIS — Trends International Inc. has renewed its 180,000-square-foot industrial lease at 5110 W. 74th St. within Park 100 Business Park in Indianapolis. The tenant, which produces licensed posters, calendars, stickers and stationery products, renewed its lease for seven years. Sean McHale of Avison Young represented the tenant, while Grant Lindley of Cushman & Wakefield represented the landlord, LINK Industrial. The location serves as Trends International’s corporate headquarters.

June 23, 2022

Acquisitions Indiana Industrial Midwest

MAG Capital Partners Purchases 38,250 SF Flex Industrial Facility in Elkhart, Indiana

by Kristin Harlow June 22, 2022

ELKHART, IND. — MAG Capital Partners LLC has purchased a 38,250-square-foot flex industrial facility in Elkhart for an undisclosed price. Built in 2014 and fully renovated in 2019, the property at 5155 Verdant Drive is home to Dometic’s Americas segment. Dometic provides products for use in recreational vehicles (RVs), boats and trucks. Elkhart is known as the “RV Capital of the World” and more than 85 percent of all RVs built in the United States are produced in Indiana, according to the RV Industry Association. Matt Deahl of Imperium Realty & Investments advised both the seller, Verdant Development, and MAG Capital Partners, which is a Fort Worth, Texas-based private investment firm founded by Dax Mitchell and Andrew Gi.

June 22, 2022

Acquisitions Indiana Industrial Midwest

NAI Hiffman Brokers Sale of 1.1 MSF Industrial Property in Gary, Indiana

by Kristin Harlow June 21, 2022

GARY, IND. — NAI Hiffman has brokered the sale of Chase Street Industrial Center, a two-building industrial property totaling nearly 1.1 million square feet in Gary. The sales price was undisclosed. Located at 700 Chase St., the property sits on 98 acres and is home to four tenants, which have operated out of the buildings for an average of 18 years. Chase Street Industrial Center consists of a heavy manufacturing and warehouse property that totals 1 million square feet and is occupied by three tenants and an 80,000-square-foot facility that is home to a single tenant. Patrick Sullivan, Ryan Chambers and Chris Gary of NAI Hiffman represented the seller, Chicago-based RJB & Co. Los Angeles-based Cannon Commercial Inc. was the buyer.

June 21, 2022

Acquisitions Indiana Industrial Midwest

Legacy Investing, Axonic Capital Acquire 954,370 SF Distribution Center Near Indianapolis

by Kristin Harlow June 20, 2022

FRANKLIN, IND. — A partnership between Northern Virginia-based Legacy Investing LLC and an affiliate of New York City-based investment manager Axonic Capital LLC has acquired I-65 Indianapolis Logistics Center South. The newly constructed distribution center spans 954,370 square feet and is located in Franklin, a southern suburb of Indianapolis. Andrew Morris and Jeremy Woods of CBRE represented the undisclosed seller and represented the new owners in securing a lease for the property with a third-party logistics company. The sales price was undisclosed.

June 20, 2022

Indiana Industrial Leasing Activity Midwest

Peli BioThermal Inks 138,328 SF Industrial Lease Expansion in Metro Indianapolis

by Kristin Harlow June 13, 2022

PLAINFIELD, IND. — Peli BioThermal has signed a new industrial lease for 138,328 square feet in the Indianapolis suburb of Plainfield. The company, which provides temperature-controlled packaging solutions for the life sciences industry, is more than doubling its space at HSA Commercial’s Gateway Business Park. Peli BioThermal’s current lease totals 50,000 square feet at Gateway Industrial II. The tenant will move to the recently completed Gateway Industrial VI upon expiration of its current lease by the end of the year. Peli BioThermal will build out office space and slowly transfer operations to the new facility. Jared Scaringe of CBRE represented the tenant, while Terry Busch of CBRE represented ownership. To date, HSA has completed seven buildings totaling roughly 1.2 million square feet at Gateway Business Park.

June 13, 2022

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