Indiana

Bradford Allen Acquires 130-Room SpringHill Suites Indianapolis Fishers Hotel

by Kristin Harlow March 25, 2025

FISHERS, IND. — Bradford Allen has acquired the SpringHill Suites Indianapolis Fishers hotel, a 130-room select-service hotel located adjacent to the new Cadillac Formula 1 headquarters, which is being developed by Bradford Allen. The purchase price was undisclosed. Located near I-69 in the Indianapolis North Loop submarket, the hotel is less than three miles from the new Fishers Event Center and within 20 miles of the Indianapolis Motor Speedway. Opened in 2007 and renovated in 2016, the property features an indoor pool, meeting room, convenience store, fitness center, laundry room, complimentary breakfast buffet and complimentary onsite parking. Since launching its hospitality platform in 2022, Bradford Allen has acquired seven hotels totaling about 900 rooms.

March 25, 2025

Development Indiana Industrial Midwest

Meridian Design Build Completes 43-Acre Truck Terminal in Greenwood, Indiana

by Kristin Harlow March 25, 2025

GREENWOOD, IND. — Meridian Design Build has completed a build-to-suit for a North American provider of less-than-truckload (LTL) freight services on a 43-acre site at 2955 Allen Road in Greenwood. Scannell Properties was the developer. The project features a 125-door, cross-docked truck terminal with 123 loading positions and 11,000 square feet of office/support space. An adjacent, freestanding maintenance building includes six fully equipped service bays and a truck wash bay. The site is paved to accommodate 350 employee/driver parking stalls, 219 trailer storage positions, 175 tractor stalls and 247 van stalls. Bill Thomas Architect provided architectural services and American Structurepoint handled the civil engineering.

March 25, 2025

Development Indiana Midwest Office

Skender Completes Interior Construction of 15,370 SF Office for Baker Tilly in Indianapolis

by Kristin Harlow March 13, 2025

INDIANAPOLIS — Skender has completed interior construction on a new 15,370-square-foot office for advisory, tax and assurance firm Baker Tilly in Indianapolis. Located at 9229 Delegates Row within the 19-story Keystone Office Park, the workspace features a mix of private offices, open workstations, collaboration areas, conference rooms and a lounge/café. Notable elements include water vapor fireplaces accented by swinging lights, cutting-edge audio/visual technology and integrated security systems. Skender completed the build-out in 21 weeks. Partners by Design served as architect, a d a Design Associates provided design services, COFCO provided furniture, Automation Arts completed audio/visual technology and Southern Lighting designed the lighting.

March 13, 2025

Indiana Market Reports Midwest Midwest Market Reports Mixed-Use

Embrace the Future of Indianapolis with Experience-Driven Spaces

by Kristin Harlow March 13, 2025

By Lance Evinger III, Hendricks Commercial Properties In an era where consumers seek more than just products, experience-driven spaces are reshaping the commercial real estate landscape. In Indianapolis, developers and urban planners are increasingly focused on transforming some of the city’s most underutilized yet high-potential areas into dynamic destinations that foster engagement, connection and excitement. Indianapolis boasts a diverse and rapidly evolving commercial real estate market that continues to attract significant investment and development. Key sectors — including office, industrial, retail and mixed-use developments — have experienced steady growth, with a strong focus on adaptive reuse projects and innovative design concepts. The city’s strategic central location, robust infrastructure and thriving convention scene make it a prime destination for businesses and developers alike. Named USA Today’s No. 1 Convention City in the U.S. in 2024, downtown Indianapolis attracts over 10 million visitors annually, a number that continues to grow. In the past year, downtown hotels have set all-time monthly revenue records, fueled by major events like the NFL Combine and NBA All-Star Weekend. At the same time, the Indiana Convention Center has seen a 14.5 percent year-over-year increase in visitors, further cementing the city’s reputation as a top-tier event destination. With …

March 13, 2025

Build-to-Rent Development Indiana Midwest Single-Family Rental

Buckingham, Onyx+East Break Ground on 165-Unit Build-to-Rent Community in Metro Indianapolis

by Kristin Harlow March 10, 2025

BROWNSBURG, IND. — A joint venture between Buckingham and Onyx+East has broken ground on Mural Brownsburg, a 165-unit build-to-rent (BTR) community in the Indianapolis suburb of Brownsburg. The development is part of Buckingham’s Mural Collection. Phase I is underway at the intersection of US 136 and Northfield Drive. The three- and four-bedroom homes will range from 1,572 to 2,086 square feet. Under Buckingham’s property management, all Mural Brownsburg home and yard maintenance is included. Residents will enjoy walking paths, a neighborhood clubhouse and pool. The first units are expected to be available for rent beginning in October. Mural Brownsburg marks the first BTR venture for both Onyx+East and Buckingham. Onyx+East’s expertise is in for-sale single-family and townhome construction and Buckingham’s experience is in multifamily investment and management.

March 10, 2025

Acquisitions Indiana Midwest Multifamily

CBRE Brokers $59.5M Sale of Apartment Property in Noblesville, Indiana

by Kristin Harlow March 6, 2025

NOBLESVILLE, IND. — CBRE has brokered the $59.5 million sale of Autum Breeze, a 280-unit apartment property in the Indianapolis suburb of Noblesville. Built in 2009, the community features a range of one-, two- and three-bedroom floor plans averaging 1,066 square feet. Amenities include a fitness center, pet spa, coffee bar, game room and outdoor pavilion. Autumn Breeze is located at 14901 Beauty Berry Lane proximate to Hamilton Town Center, IU Health Saxony Hospital and Ascension St. Vincent Fishers Hospital and within walking distance of the Ruoff Home Mortgage Music Center. Hannah Ott, George Tikijian, Cam Benz, Clair Hassfurther, Ryan Stockamp and Sean Pingel of CBRE represented the seller, Lightstone Group. IRT was the buyer.

March 6, 2025

Acquisitions Indiana Midwest Multifamily

GMF Group Acquires Three Manufactured Housing Communities in Indiana

by Kristin Harlow March 6, 2025

INDIANAPOLIS AND HUNTINGTON, IND. — GMF Group has acquired three manufactured housing communities in Indiana for an undisclosed price. The purchases include Brookfield Estates in Indianapolis, East Indy Estates in Indianapolis and Huntington Estates in Huntington. The communities feature a combined 301 lots and offer a range of amenities. Palm Beach, Fla.-based GMF’s portfolio includes approximately 4,300 lots and units across Florida, North Carolina and Indiana.

March 6, 2025

Development Indiana Leasing Activity Midwest Office

Bradford Allen Underway on Redevelopment of 245,783 SF Headquarters Space for Andretti Global in Indianapolis

by Kristin Harlow March 5, 2025

INDIANAPOLIS — Bradford Allen has negotiated a lease for TWG Motorsports, parent company of Andretti Global, at the former IndyStar Pulliam Production Center located at 8278 Georgetown Road in Indianapolis. The firm is redeveloping the 245,783-square-foot space to serve as the headquarters of Andretti Global’s INDYCAR, INDY NXT and Formula E teams. The renovated facility will have both office and industrial space and accommodate approximately 300 employees. Construction has begun and will be coordinated concurrently with the removal of several three-story printing presses from the building. The project is expected to be completed by this summer. The facility marks Bradford Allen’s second project for TWG Motorsports, the first being a nearly 400,000-square-foot motorsports facility under construction in Fishers, Ind. Built in 1995, 8278 Georgetown Road served as a production facility for the Indianapolis Star until 2024. Bradford Allen will modernize the building’s technology, introduce tailored workspaces and fabrication zones, and incorporate employee amenities such as a fitness center, dining space and pit-stop performance area. Additional project partners include ABEL Construction Co. and Merriman Schmitt Architects. Both firms have experience with motorsports facilities.

March 5, 2025

Acquisitions Indiana Midwest Retail

Greenstone Partners Brokers $2M Sale of Two-Tenant Retail Property in Portage, Indiana

by Kristin Harlow March 3, 2025

PORTAGE, IND. — Greenstone Partners has brokered the sale of Starbucks Center at AmeriPlex at the Port, a two-tenant retail property in Portage, for nearly $2 million. The 5,251-square-foot asset is located just off I-94 at the entrance of AmeriPlex at the Port, a 387-acre mixed-use business park. Tenants include Starbucks, which has occupied space for over 17 years and recently extended its lease through 2033, and El Salto/Fairway Indoor Golf, a regional restaurant group that recently introduced high-tech golf simulators. Jason St. John of Greenstone represented the seller and developer in the transaction. Buyer information was not provided.

March 3, 2025

Hospitality Indiana Loans Midwest

Cronheim Hotel Capital Provides $30M in Financing for Aloft Property in Indianapolis

by Kristin Harlow February 27, 2025

INDIANAPOLIS — Cronheim Hotel Capital has provided a $30 million loan to finance the recently converted 128-room Aloft Indianapolis Downtown hotel. The borrower, Everwood Hospitality Partners, converted the historic Stock Yards Bank & Trust Co. office building into the hotel. Beau Williams of Cronheim originated the loan. The asset is within walking distance of the Indiana Convention Center, Lucas Oil Stadium, Gainbridge Field and Monument Circle.

February 27, 2025

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