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AcquisitionsIndianaMidwestMultifamily

CBRE Negotiates Sale of 218-Unit Apartment Complex in Greenwood, Indiana

by Kristin Harlow

GREENWOOD, IND. — CBRE has negotiated the sale of The Hangar on Emerson in Greenwood, a southern suburb of Indianapolis. The sales price was undisclosed. Built in 2023 and located at 1140 Emerson Pointe Drive, the 218-unit apartment complex features a range of one-, two- and three-bedroom floor plans averaging 1,006 square feet. Amenities include a resort-style swimming pool, courtyards, a clubhouse, fitness center, yoga room and pet park. CBRE’s Hannah Ott, George Tikijian, Cam Benz, Claire Bullard and Ryan Stockamp represented the seller, The Garrett Cos. Railfield Partners was the buyer.

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DevelopmentIndianaIndustrialMidwest

Meridian Design Build Completes 300,000 SF Cold Storage Build-to-Suit in Anderson, Indiana

by Kristin Harlow

ANDERSON, IND. — Meridian Design Build has completed construction of a 300,000-square-foot climate-controlled seed storage and distribution facility for Corteva Agriscience in Anderson, about 40 miles northeast of Indianapolis. Scannell Properties was the developer. Located at 4210 W. 67th St., the property is Corteva’s largest warehouse and distribution center in North America, according to Meridian. Constructed on 30 acres, the facility features 100,000 square feet of refrigerated and humidity-controlled cold storage space along with an adjacent dry storage area accessible via high-speed rollup doors. The building features 25 loading docks, two drive-in doors, a storm shelter and 4,000 square feet of office space. Curran Architecture was the architect, and American Structurepoint Inc. handled the civil engineering design.

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AcquisitionsData CentersIndianaIndustrialMidwest

Partnership Acquires Union Station Data Center, Carrier Hotel in South Bend, Indiana

by Kristin Harlow

SOUTH BEND, IND. — A partnership between fifteenfortyseven Critical Systems Realty (1547) and Harrison Street has acquired the Global Access Point Union Station data center in South Bend for an undisclosed price. The data center sits atop the transcontinental fiber system connecting Chicago to the East Coast. Situated in the historic Union Station in northern Indiana, the property is ranked among the top U.S. carrier hotels and critical network hubs, according to 1547. The facility offers access to over 20 telecommunication network service providers. The buyers plan to make facility upgrades.

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AcquisitionsIndianaMidwestRestaurantRetail

Marcus & Millichap Brokers $4.5M Sale of Golden Corral-Occupied Property in Schererville, Indiana

by Kristin Harlow

SCHERERVILLE, IND. — Marcus & Millichap has brokered the $4.5 million sale of a 10,582-square-foot restaurant property occupied by Golden Corral in Schererville, a city in northwest Indiana. Built in 2006, the asset is located at 915 Eagle Ridge Drive next to a Home Depot. Sean Sharko, Austin Weisenbeck and Daniel Chumbley of Marcus & Millichap represented the seller, a Chicago-based real estate investment company, and procured the buyer, an out-of-state real estate partnership. Josh Caruana, broker of record in Indiana, assisted in closing the transaction.

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AcquisitionsIndianaMidwestMultifamily

CBRE Brokers Sale of 159-Unit Multifamily Community in Evansville, Indiana

by Kristin Harlow

EVANSVILLE, IND. — CBRE has brokered the sale of Post House, a 159-unit multifamily community in Evansville, a city on the Ohio River. The sales price was undisclosed. Built in 2020 and located at 215 Vine St., the property features a range of studio, one- and two-bedroom floor plans averaging 894 square feet and 15 loft-style, live-work units. Amenities include a pool, covered outdoor seating, yoga room, dog spa, dog park, fitness center, coworking center and parking garage. Hannah Ott, George Tikijian, Cam Benz, Claire Bullard and Ryan Stockamp of CBRE represented the seller, Scannell Properties. Prosperity Commercial Real Estate was the buyer.

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IndianaIndustrialLeasing ActivityMidwest

Alfa Laval Signs 324,000 SF Industrial Lease in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Alfa Laval, a global provider of heat transfer, separation and fluid handling products, has signed a 324,000-square-foot industrial lease at Building 2 within County Line Commerce industrial park in Indianapolis. The tenant will occupy the entire building. Developed by a joint venture between Gershman and Citimark, County Line Commerce consists of five buildings totaling nearly 1.9 million square feet. Construction is now complete at the 170-acre industrial park, which is located at the intersection of County Line Road and I-65. Brian Seitz of JLL represented the landlords in the lease, while Charlie Polk and Brian Buschuk of JLL represented the tenant. Buildings 1, 3 and 4 are still available for lease.

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IndianaIndustrialLeasing ActivityMidwest

Sojo Industries Signs 151,950 SF Industrial Lease at Mohr Logistics Park Near Indianapolis

by Kristin Harlow

WHITELAND, IND. — Sojo Industries has signed a 151,950-square-foot industrial lease in Lot 5 of Mohr Logistics Park in Whiteland, a southern suburb of Indianapolis. Mark Writt of CBRE represented ownership, Mohr Capital. Jim Scott and Steve Shaub of Avison Young represented the tenant, which is a technology company engaged in advanced robotics, mobile manufacturing and modular packaging solutions for delivering packaging and assembly services for the food-and-beverage industry. Sojo maintains production facilities in Pennsylvania, California, Texas and Indiana, along with mobile sites throughout the country. All locations utilize high-speed automated lines and robotics to handle packaging materials. Additional tenants at Mohr Logistics Park include Goodyear, DHL and Turn 14. The industrial park totals 475 acres, and Mohr plans to develop more than 7 million square feet of bulk industrial buildings.

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AcquisitionsIndianaMidwestRetail

Marcus & Millichap Arranges $2.8M Sale of Five Below-Occupied Property in Hammond, Indiana

by Kristin Harlow

HAMMOND, IND. — Marcus & Millichap has arranged the $2.8 million sale of a 10,122-square-foot retail property net leased to Five Below in Hammond near Chicago. Located at 1035 Indianapolis Blvd., the asset was built in 2024 and is situated on a pad site to a Walmart Supercenter and Ross Dress for Less-anchored retail center. Nicholas Kanich of Marcus & Millichap represented the seller, an Indiana-based retail developer and manager, and procured the buyer, a Michigan-based REIT. Josh Caruana, broker of record in Indiana, assisted in closing the transaction.

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IndianaIndustrialLoansMidwestSelf-Storage

Cronheim Mortgage Arranges $14M for Self-Storage Conversion in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Cronheim Mortgage has arranged $14 million for the acquisition and conversion of a vacant retail center in Indianapolis into a 116,000-square-foot self-storage facility under the JustStorage brand. A bridge lender provided the nonrecourse, floating-rate loan, which features a 70 percent loan-to-cost ratio. DealPoint Merrill is developing the property, while its affiliate management company, JustStorage, will operate the asset. Plans call for both climate-controlled and non-climate-controlled offerings.

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DevelopmentIndianaMidwestMultifamilyStudent Housing

Subtext Completes 751-Bed VERVE West Lafayette Student Housing Community Near Purdue University

by Kristin Harlow

WEST LAFAYETTE, IND. — Subtext has completed VERVE West Lafayette, a 751-bed student housing community located two blocks from Purdue University in West Lafayette. The project at 150 S. Chauncey Ave. rises seven stories with 235 units across studio, one-, two-, three- and four-bedroom layouts. VERVE West Lafayette includes two restaurants and a high-end bodega fronting Chauncey Street. The property is fully preleased for the coming school year. Amenities include a fitness center, clubhouse, study spaces, Zen courtyards, a pool, multipurpose lawn, dog park and year-round hut tub. The project team included WDG Architecture, interior designer Ankrom Moisan, Brinkmann Constructors and civil engineer TBIRD Design Services. PNC was the lender.

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