Indiana

CBRE Arranges $107.3M Sale of Indianapolis Industrial Portfolio

by Kristin Harlow October 6, 2025

INDIANAPOLIS — CBRE has arranged the sale of a 1.3 million-square-foot, seven-property industrial portfolio in Indianapolis for $107.3 million. Judd Welliver, Zach Graham, Ryan Bain, Bentley Smith, Michael Caprile and Joe Horrigan of CBRE represented the seller, Arcapita. Billy Mork, Mike Vannelli and Joel Torborg of CBRE arranged $64.4 million in acquisition financing on behalf of the buyer, Capital Partners. The fixed-rate loan features interest-only payments for the full term. CBRE’s JD Graves and Chris Black will handle marketing and leasing for the portfolio.

October 6, 2025

Indiana Industrial Leasing Activity Midwest

Ashley DSG Signs 68,486 SF Industrial Lease at Gateway Business Park in Plainfield, Indiana

by Kristin Harlow October 1, 2025

PLAINFIELD, IND. — Chicago-based HSA Commercial Real Estate has inked a new 68,486-square-foot industrial lease with home furnishings retailer Ashley DSG at Gateway Industrial V in Plainfield near the Indianapolis International Airport. The deal returns the 262,758-square-foot building in HSA’s Gateway Business Park to full occupancy. Memphis, Tenn.-based Ashley DSG maintains 166 locations in the United States and Canada. The company will use its space at Gateway V to warehouse and distribute home furnishings. The lease is a relocation and expansion from the company’s existing location in the Indianapolis area. HSA oversaw tenant improvements, including racking and upgrades to the truck dock area. Developed on a speculative basis and delivered in 2019, Gateway V features a clear height of 32 feet, 30 truck docks, four drive-in doors, 185 parking stalls and 70 trailer positions. The warehouse is also home to auto glass distributor Mygrant Glass Co., Paris-based aerospace firm Safran Nacelles and transplant solutions provider LifeNet. Tom Niessink of Niessink Commercial Real Estate represented Ashley DSG in the lease. Terry Busch and Jared Scaringe of CBRE represented ownership.

October 1, 2025

Development Indiana Industrial Midwest

B&B Group to Open 36,000 SF Headquarters in Ingalls, Indiana

by Kristin Harlow September 26, 2025

INGALLS, IND. — B&B Group, a Central Indiana property services company, has broken ground on its new headquarters at Park 69 within Ingalls, a northwest suburb of Indianapolis. The facility will serve as the headquarters for Real Time Detention and Real Time Furniture and is situated about a five-minute drive from the companies’ current offices in Noblesville. The relocation is expected to be completed in 2026. Developed by Podell Partners, the combined headquarters will span 36,000 square feet and feature a two-story office and showroom, column-free warehouse space and professional outside storage. B&B Group, Real Time Detention and Real Time Furniture plan to bring more than 25 jobs to Madison County. The project marks the second industrial facility developed by Podell Partners at Park 69, which encompasses 23 acres of master-planned industrial and multi-use space. The project received a 10-year real property tax abatement. Cam Kucic and Korey Ryan of Colliers represented the landlord in the transaction. Steve Schaub of Avison Young represented the tenant. Elements Financial provided construction financing. Systems Builders is serving as the general contractor.

September 26, 2025

Acquisitions Indiana Midwest Retail

Marcus & Millichap Brokers $4.8M Sale of Wawa-Occupied Retail Property in Noblesville, Indiana

by Kristin Harlow September 24, 2025

NOBLESVILLE, IND. — Marcus & Millichap has brokered the $4.8 million sale of a newly built retail property occupied by Wawa in the Indianapolis suburb of Noblesville. Located at 2701 Westfield Road, the 5,915-square-foot asset features a new 20-year absolute NNN ground lease corporately guaranteed by Wawa Inc. The store, which opened in May, is positioned at the entrance to Midland Pointe, a $72 million development with luxury apartments and more than 40,000 square feet of retail space. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group of Marcus & Millichap represented the seller, a Florida-based developer, in association with Josh Caruana, the firm’s broker of record in Indiana. The buyer was undisclosed.

September 24, 2025

Development Indiana Midwest Multifamily

Flaherty & Collins Underway on Development of $38M Apartment Complex in Richmond, Indiana

by Kristin Harlow September 17, 2025

RICHMOND, IND. — Flaherty & Collins is underway on the development of 6Main, a $38 million luxury apartment complex in Richmond, a city in eastern Indiana. The 150-unit project is being built on the site of the former Elder-Beerman department store and will include 3,000 square feet of first-floor retail space. Amenities will include a fitness center, pool, outdoor and indoor lounges, a pet spa and dog park. Leasing is anticipated to begin in late 2026 ahead of the grand opening in spring 2027.

September 17, 2025

Acquisitions Indiana Loans Midwest Multifamily

Greystone Structures $31.3M in Acquisition Financing for Multifamily Property in Merrillville, Indiana

by Kristin Harlow September 16, 2025

MERRILLVILLE, IND. — Greystone has provided a $26.3 million Freddie Mac loan to finance the acquisition of Tiberon Trails Apartments in Merrillville. Additionally, Greystone Equity Services brought in MORE Capital, an affiliate of Morgan Properties, as a preferred equity provider. MORE Capital supplied a nearly $5 million preferred equity loan in conjunction with the Freddie Mac financing. Eric Rosenstock of Greystone originated the Freddie Mac loan on behalf of the borrower, Bayshore Properties. The loan features a fixed interest rate over a five-year term with a 30-year amortization and two years of interest-only payments. Tiberon Trails comprises 374 units with a mix of studio, one-, two- and three-bedroom layouts. Amenities include a playground and fitness center.

September 16, 2025

Acquisitions Indiana Midwest Retail

Marcus & Millichap Arranges $3.8M Sale of Auto Repair Center in Greenwood, Indiana

by Kristin Harlow September 15, 2025

GREENWOOD, IND. — Marcus & Millichap has arranged the $3.8 million sale of an auto repair center occupied by Caliber Collision in Greenwood. The property totals 33,511 square feet and is located at 155 Melody Ave. Caliber Collision occupies the asset under a double-net lease with more than three years remaining on the lease. Mitch Grant, Nicholas Kanich and Josh Caruana of Marcus & Millichap represented the Indiana-based seller. Dominic Sulo, Ryan Engle and Andrean Angelov of Marcus & Millichap procured the Illinois-based buyer.

September 15, 2025

Development Indiana Midwest Mixed-Use

Skender to Build $105M Mixed-Use Development in Westfield, Indiana

by Kristin Harlow September 11, 2025

WESTFIELD, IND. — Skender will build a $105 million mixed-use project in downtown Westfield, a northern suburb of Indianapolis. Previously known as Jersey 32, the development was recently renamed The Grand on Main. The Westfield City Council approved the project in July. Plans call for 216 residential units, 51,000 square feet of ground-floor retail space and more than 15,000 square feet of commercial office space. Skender will also move into office space within the development. In addition to Skender, the project team includes BW Development and Studio M as designer. Construction is scheduled to begin later this year, with completion slated for 2027.

September 11, 2025

Acquisitions Indiana Industrial Midwest

Realterm Acquires 10-Acre Industrial Property in Indianapolis

by Kristin Harlow September 10, 2025

INDIANAPOLIS — Realterm has acquired a 79-door truck terminal located at 2612 W. Morris St. in Indianapolis for an undisclosed price. The 10-acre property features a 37,965-square-foot truck terminal with 7,635 square feet of office space and a 7,626-square-foot maintenance shop. The truck terminal includes 124 trailer parking stalls and two points of ingress and egress. It recently underwent significant renovations, including a roof replacement, repaved parking lot, interior improvements to the terminal and maintenance facility, and enhanced security measures. The property offers immediate access to I-70 and the Indianapolis International Airport.

September 10, 2025

Acquisitions Indiana Midwest Multifamily

Marcus & Millichap Brokers $4.3M Sale of River Shore Apartments in South Bend, Indiana

by Kristin Harlow September 10, 2025

SOUTH BEND, IND. — Marcus & Millichap has brokered the $4.3 million sale of River Shore Apartments in South Bend. The 48-unit multifamily property was built in 1969 on 2.1 acres. Of the 48 units, 39 have been renovated and 44 are two-bedroom floor plans. Amenities include a dog park, car ports and small storage compartments. The asset is located one mile from Indiana University South Bend and Bethel College. Jack Friskney, Aaron Kuroiwa and Austin Meeker of Marcus & Millichap represented the South Bend-based seller and procured the Detroit-based buyer.

September 10, 2025

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