Indiana

JLL Negotiates $43M Sale of Distribution Center Near Indianapolis

by Kristin Harlow September 29, 2021

MOORESVILLE, IND. — JLL Capital Markets has negotiated the $43 million sale of Westpoint II, a 507,600-square-foot distribution center in the Indianapolis-area community of Mooresville. Deckers Outdoors Corp. (NYSE: DECK), a lifestyle and footwear retailer, fully occupies the facility. Completed this year, the building features a clear height of 36 feet and 50 dock-high doors. It is situated within Westpoint Business Park, a 550-acre development that will feature more than 9 million square feet of Class A industrial product upon full buildout. John Huguenard, Ed Halaburt and Brian Seitz of JLL represented the seller, Ambrose Property Group LLC. Cambridge Holdings was the buyer.

September 29, 2021

Development Indiana Midwest Multifamily Seniors Housing

Capitol Seniors Housing Breaks Ground on 164-Unit Active Adult Community Near Indianapolis

by Kristin Harlow September 28, 2021

NOBLESVILLE, IND. — Capitol Seniors Housing has broken ground on The Outlook at Hamilton Town Center, a 164-unit active adult community in Noblesville near Indianapolis. The 145,000-square-foot, four-story community will serve residents aged 55 and older. The property will be situated adjacent to Hamilton Town Center, an outdoor shopping, dining and entertainment destination. Amenities will include a pool, clubhouse, library, theater and fitness studio. Element Architects and Core Construction make up the project team. Completion is slated for early 2023.

September 28, 2021

Indiana Leasing Activity Midwest Restaurant Retail

Prodigy Burger Bar, Big Bear Biscuits Sign Leases at Lakefront at Keystone in Indianapolis

by Kristin Harlow September 23, 2021

INDIANAPOLIS — Prodigy Burger Bar and Big Bear Biscuits have signed long-term leases to share 10,000 square feet in the former Scotty’s Brewhouse space at 3905 E. 96th St. within Lakefront at Keystone, a Class A office park in Indianapolis. Both restaurants anticipate opening in early 2022. Prodigy Burger Bar, currently owned by O’Reilly’s Holdings LLC, opened its first location in 2017 and now maintains six eateries in Carmel, Geist, Greenwood, Indianapolis, Kokomo and West Carmel. Big Bear Biscuits, a partnership between Indianapolis restaurateur Keith Reilly and Indianapolis chef Dean Sample, is a new venture offering breakfast and lunch options with biscuits and a local coffee program. Both restaurants will offer indoor and outdoor dining, catering, delivery and carryout service. Scott Wise and Steve Delaney of CBRE represented ownership, Rubenstein Partners LP and Strategic Capital Partners LLC. Gary Perel of ALO Property Group represented the tenants.

September 23, 2021

Indiana Industrial Leasing Activity Midwest

Sauder Woodworking Signs 100,000 SF Industrial Lease in New Haven, Indiana

by Kristin Harlow September 21, 2021

NEW HAVEN, IND. — Sauder Woodworking Co. has signed a 100,000-square-foot industrial lease at Building B within Cedar Oak Industrial Park in New Haven, just east of Fort Wayne. Located at 10651 Rose Ave., the building is the final space to be leased within the industrial park. Bill Drinkall and Brook Steed of Bradley Co. represented ownership in the lease transaction. Sauder is a producer of ready-to-assemble furniture and plans to bring 50 new jobs to New Haven.

September 21, 2021

Acquisitions Indiana Midwest Multifamily

Marcus & Millichap Arranges Sale of 544-Unit Multifamily Property in Terre Haute, Indiana

by Kristin Harlow September 20, 2021

TERRE HAUTE, IND. — Marcus & Millichap has arranged the sale of The Village Quarter Apartments in Terre Haute, located approximately 77 miles southwest of Indianapolis and five miles east of the Illinois state line. The sales price was undisclosed. The multifamily property at 100 Village Drive includes 544 units across 56 buildings. Amenities include a pool, fitness center, internet café, laundromat, basketball courts and tennis courts. The property was sold by the original developer who had owned and operated it since 1984. Since 2018, the owner invested more than $2.9 million in capital improvements for siding, unit renovations, roofing, landscaping and sport courts. Aaron Kuroiwa and Austin Meeker of Marcus & Millichap’s Indianapolis office represented the seller. The duo also secured and represented the buyer, a limited liability company.

September 20, 2021

Acquisitions Healthcare Indiana Midwest Office

Next Realty Acquires 39,000 SF Westridge Office Park in Suburban Indianapolis

by Kristin Harlow September 20, 2021

AVON, IND. — An affiliate of Next Realty LLC has acquired Westridge Office Park in Avon, a western suburb of Indianapolis. The purchase price was undisclosed. The office and medical complex consists of two single-story buildings. Tenants include Indiana University Health Care Associates Inc., Indiana Department of Child Services, Kindred Hospice, Midwest Behavioral Health LLC, Allergy Partners and St. Vincent Medical Group. The acquisition marks the 12th and final acquisition made on behalf of Next Realty Fund IX LP. Kevin Dick, Paul Dick and Nicholas Miller of Bradley Co. represented the seller, Westridge Investments LLC.

September 20, 2021

Indiana Loans Midwest Multifamily

Eastern Union Arranges $9.7M Bridge Loan for Indianapolis Apartment Complex

by Kristin Harlow September 15, 2021

INDIANAPOLIS — Eastern Union has arranged a $9.7 million bridge loan to facilitate the acquisition of Meridian Towers in Indianapolis. The 195-unit apartment complex is located at 3710 N. Meridian St. and dates to the 1950s. Michael Wyne of Eastern Union arranged the loan with assistance from Boruch Mandel of Eastern Equity Advisors, an affiliate of Eastern Union. The borrower was a joint venture between New York City-based Crown Capital Ventures and Toronto-based Whitestone Capital. The lender was not disclosed.

September 15, 2021

Acquisitions Indiana Industrial Midwest

JLL Brokers $114M Sale of 1.5 MSF Distribution Center in Metro Indianapolis

by Kristin Harlow September 13, 2021

FRANKFORT, IND. — JLL Capital Markets has brokered the sale of a 1.5 million-square-foot distribution center in the Indianapolis-area community of Frankfort for $114 million. The facility was completed in 2015 as a build-to-suit for food and beverage maker ConAgra Brands, which fully occupies the property. Building features include a clear height of 34 feet, 125 dock-high doors, four drive-in doors, 853 trailer parking stalls and 10 rail docks serviced by CXS and Norfolk Southern. John Huguenard and Kurt Sarbaugh of JLL represented the seller, Founders Properties LLC. W. P. Carey purchased the 180-acre property.

September 13, 2021

Acquisitions Indiana Midwest Multifamily

Cushman & Wakefield Brokers Sale of 186-Unit Luxury Apartment Complex in Indianapolis

by Kristin Harlow September 10, 2021

INDIANAPOLIS — Cushman & Wakefield has brokered the sale of Notch at Nora, a 186-unit luxury apartment complex in Indianapolis. The sales price was undisclosed. The recently completed development is located at the corner of 86th Street and Westfield Boulevard. Amenities include a pool, dog park, fitness center, grilling area and direct access to the Monon Trail. George Tikijian, Hannah Ott and Cameron Benz of Cushman & Wakefield represented the seller, locally based TWG Development. Becovic Management was the buyer.

September 10, 2021

Affordable Housing Development Indiana Midwest Multifamily Seniors Housing

TWG Opens $11M Affordable Seniors Housing Project in Indianapolis

by Kristin Harlow September 7, 2021

INDIANAPOLIS — TWG has opened Line Lofts Apartments, an $11 million affordable seniors housing project on the east side of Indianapolis. Located at 1145 E. Washington St., the property features 63 two-bedroom units. One-fifth of the units are designed and reserved for seniors with visual impairments, as part of a partnership between TWG and local nonprofit Visually Impaired Preschool Services (VIPS). The property includes specific features to aid visually impaired residents, including oversized elevator buttons, tactile markings, dedicated ride sharing pickup spots and a park area for service animals. Line Lofts will also serve as the new home for the VIPS Simon and Estelle Knoble Family Resource Center, a 6,000-square-foot center that will offer services for blind or visually impaired children such as early intervention, orientation and mobility, preschool transition assistance, advocacy training and parent events. Low-income housing tax credits from the Indiana Housing and Community Development Authority helped fund the project.

September 7, 2021

Newer Posts

Older Posts