ILLINOIS, INDIANA, KENTUCKY, NEBRASKA AND WISCONSIN — Newmark has negotiated the sale of the Midwest MHC Portfolio for $100 million. The portfolio spans 21 manufactured housing communities comprising 2,789 sites throughout Illinois, Indiana, Kentucky, Nebraska and Wisconsin. The portfolio was 83 percent occupied at the time of sale. Andrew Shih and Todd Fletcher of Newmark’s Manufactured Housing Group represented the undisclosed seller. Salt Lake City-based private investment group OZ Impact Funds was the buyer.
INDIANAPOLIS — Square Deal Investment Management has acquired Salesforce Tower and the Circle Building, two Class A office towers in Indianapolis. The purchase price was $192.5 million, according to The Indianapolis Star, which also reports that the seller was California-based Hertz Investment Group. The adjacent buildings are located at 27 E. Ohio St. and 111 Monument Circle in the heart of the central business district. Salesforce maintains its regional headquarters in the 48-story Salesforce Tower. Ken Martin, Brian Carlton and Nelson Almond of JLL Capital Markets arranged an undisclosed amount of acquisition financing on behalf of the buyer, which is the asset management and investment allocation branch of Oklahoma City-based Square Deal Capital Inc.
CARMEL, IND. — Tryperion Partners has sold 550 Congressional Boulevard in Carmel’s Meridian Corridor for an undisclosed price. The 106,814-square-foot, three-story office building was constructed in 1987 and renovated in 2016. The property is 91.8 percent occupied by tenants such as Fuzion Analytics, Corvel Risk Management and Kopka, Pinkus & Dolin law firm. Alex Cantu and Alex Davenport of Colliers International represented Tryperion in the sale. A private investor purchased the asset.
PLAINFIELD, WESTFIELD AND FISHERS, IND. — Hanley Investment Group Real Estate Advisors has represented a private investor in the acquisition of three retail properties in metro Indianapolis for $10.8 million. Dylan Mallory of Hanley represented the Bloomington, Ind.-based buyer. In Plainfield, Stafford Crossing is a 26,000-square-foot center home to Chicago’s Pizza, Big Red Liquors, Specks Pet Supply, UPS Store and Jack’s Donuts. Built in 2007, it was 91 percent leased at the time of sale. Carey Road Center in Westfield spans 13,043 square feet. It was also built in 2007. Lastly, Windermere Place in Fishers spans 16,800 square feet. Built in 2003, the asset was 93 percent occupied at the time of sale. Stan Johnson Co. represented the seller of Stafford Crossing, SRS National Net Lease Group represented the seller of Carey Road Center and Jackson Investment Group represented the seller of Windemere Place. Seller information was not disclosed.
INDIANAPOLIS — A two-building, 52,336-square-foot industrial property located on the southeast side of Indianapolis has traded hands for an undisclosed price. The temperature-controlled facility, located at 2301 Churchman Ave., is fully leased to Shenandoah Growers, a producer of organic culinary herbs. The property was extensively renovated in 2018 to serve as the Midwest regional hub for Shenandoah Growers, which operates 12 indoor growing facilities across the country. Alex Cantu and Alex Davenport of Colliers International represented the seller, Patterson Holdings. A California-based private investor purchased the asset.
JEFFERSONVILLE, IND. — Doster Construction Co. has completed construction of The Walcott, a 215-unit luxury apartment complex in downtown Jeffersonville near Louisville. Located at 222 W. Maple St., the project includes a parking deck as well as a pool, fitness center and a rooftop terrace overlooking the Ohio River. Doster began construction on the project in 2019. Boka Powell was the architect and Waypoint Real Estate Investments was the developer. Monthly rents start at $1,045 for studios. Residents can now earn 10 weeks of free rent.
INDIANAPOLIS — The Annex Group is developing Union at 16th, a $29 million affordable housing community in Indianapolis. Located at 2215 W. 16th St., the 159-unit property will feature one-, two- and three-bedroom floor plans. Annex has closed on project financing and will begin construction immediately. Completion is slated for winter 2021. Project partners include T&H Investment Properties LLC and the Indiana Housing & Community Development Authority. The City of Indianapolis gave tax abatement incentives, R4 Capital Funding provided construction and permanent loan financing, Cinnaire provided tax credit equity and the Indianapolis Neighborhood Housing Partnership provided additional construction financing. Brenner Design is the architect and Crestline will serve as property manager. Amenities will include a playground, community center, fitness center, community gardens and bike parking.
ZIONSVILLE, IND. — The Connor Group has acquired The Domain at Bennett Farms in Zionsville, a northwest suburb of Indianapolis, for $40.5 million. Amenities at the 219-unit apartment property include a fitness center, resident lounge, community garden, bike storage and garage parking. The three-story community was built in 2012. Steve LaMotte Jr., Dane Wilson and Alex Possick of CBRE represented the seller, REI Real Estate Services.
INDIANAPOLIS AND FRANKLIN, IND. — Montecito Medical Real Estate has acquired two recently constructed medical office buildings in central Indiana. The two properties, located in Indianapolis and Franklin, are nearly identical in size and represent a combined total of 47,000 square feet. Both buildings were constructed on a build-to-suit basis and are now fully leased. Providers at both facilities offer a range of medical services, including primary care, family medicine and imaging. Physicians at the Indianapolis location also provide care in the specialties of pediatrics, women’s health and oncology, while those at the Franklin location serve patients in the specialties of orthopedics, pain management, neurology, sleep management and podiatry. The Indianapolis property is located at 7255 Marsh Road on the city’s northwest side, near the junction of I-65 and I-465. The Franklin building is located at 990 State Route 44, on the south side of the Indianapolis metro area. Seller information was not disclosed.
SCHERERVILLE, IND. — JLL Capital Markets has brokered the sale of Town Square, a 138,571-square-foot, regional shopping center in Schererville in Northwest Indiana. The sales price was undisclosed. Bed Bath & Beyond, T.J. Maxx, Old Navy and Shoe Carnival are among the tenants. The property was built in 2001. Clinton Mitchell and Amy Sands of JLL represented the seller, Walton Street Capital. Albanese Cormier Holdings purchased the asset.