REBusinessOnline

Core5 Begins Development of 1 MSF Spec Industrial Building Near Indianapolis

MONROVIA, IND. — Core5 Industrial Partners has begun development of a 1 million-square-foot industrial building within the Hendricks Gateway Park in Monrovia, about 25 miles southwest of Indianapolis. The building will be the first speculative industrial building in the market with a clear height of 40 feet. It is slated for completion in the second quarter of 2020. The development will offer parking for 663 cars and 251 trailers. Andrew Morris and Jeremy Woods of CBRE represented Core5 in …

Colliers Brokers Sale of 254,460 SF Industrial Building in Indianapolis

INDIANAPOLIS — Colliers International has brokered the sale of a 254,460-square-foot industrial building in Indianapolis for an undisclosed price. The property is located at 4310 Stout Field Drive within the Stout Field Industrial Park. The asset is situated within the southwest submarket of Indianapolis, the most active industrial submarket in the city, according to Colliers. The property offers convenient access to I-70 and the Indianapolis International Airport. The site also includes …

O’Brien Commercial, Cresa Indianapolis Office Complete Merger

INDIANAPOLIS — O’Brien Commercial Real Estate LLC and the Indianapolis office of Cresa have merged effective Monday, July 1. The merged firms now operate under the Cresa name. All employees of both companies have been retained. Cresa, which established its Indianapolis office in 1998, operates under the direction of Jim Teskey, David Black and Leslie Teskey. Tim O’Brien, president and owner of O’Brien Commercial, now serves as a principal with Cresa. Both companies focus exclusively on …

Cushman & Wakefield Brokers Sale of 184-Unit Multifamily Property Near Indianapolis

WARREN TOWNSHIP, IND. — Cushman & Wakefield has brokered the sale of Pheasant Run Apartments in Warren Township, just east of Indianapolis. George Tikijian, Hannah Ott and John Baker of Cushman & Wakefield represented the seller, Birge & Held. Connecticut-based Hamilton Point Investments was the buyer. The firm plans to make common area and exterior improvements, including new LED lighting, landscaping and an updated clubhouse. Units will receive new appliances, flooring, counters …

32-Unit Affordable Housing Project Under Development in Lafayette, Indiana

LAFAYETTE, IND. — RealAmerica Development LLC is developing H38 East Apartments, a 32-unit affordable housing project in Lafayette. The new development leverages the Indiana Housing and Community Development Authority program Moving Forward 2.0. This program is aimed at providing affordable, energy-efficient housing and transportation. All of the units will be priced affordably for low- to moderate-income individuals, with 30 units priced at 60 percent of the area median income (AMI) and two …

U-Haul Transforms Former Kmart Property Into Self-Storage Facility in Indianapolis

INDIANAPOLIS — U-Haul has transformed a former Kmart property located at 7425 E. Washington St. in Indianapolis into a self-storage facility. The 178,963-square-foot building now holds 598 climate-controlled units. Customers also have access to moving supplies and U-Box portable storage containers. U-Haul also plans to offer outdoor self-storage at the 12.5-acre site. Originally constructed in 1969, the building had stood vacant since

Holladay Set to Break Ground on 32-Unit Apartment Project in Whiting, Indiana

WHITING, IND. — Holladay Properties plans to break ground on an apartment project known as The Illiana on Monday, July 8 in Whiting, which is about 16 miles south of Chicago. The project will feature 32 apartment units and 4,000 square feet of first-floor commercial space. The development, located at the southeast corner of 119th Street and Atchison Avenue, is named for the Illiana Hotel, which stood at the site from 1928 until it was demolished in 2018. Holladay is the owner and developer. …

Berkadia Negotiates Sale of 60-Unit Multifamily Property in Indianapolis

INDIANAPOLIS — Berkadia has negotiated the sale of Park Place at Fox Hill, a 60-unit, garden-style apartment community in Indianapolis. The sales price was not disclosed. Originally built in 1970, the property features 15 one-bedroom units measuring 750 square feet and 45 two-bedroom units measuring 950 square feet. Chris Bruzas and Alex Blagojevich of Berkadia represented the seller, Indianapolis-based Barratt Asset Management. Champaign, Ill.-based Fairlawn Real Estate purchased the

Marcus & Millichap Negotiates $5M Sale of Retail Property in Elkhart, Indiana

ELKHART, IND. — Marcus & Millichap has negotiated the sale of Goshen Village Shoppes in Elkhart for $5 million. The 37,135-square-foot retail property is located at 4542 Elkhart Road. Built between 2004 and 2006, the property is 75.2 percent occupied by Little Caesars Pizza, AT&T, Panera Bread, Mattress Warehouse, Great Clips and Starbucks. Jordan Goodman, Jeff Rowlett and Matt Fitzgerald of Marcus & Millichap brokered the transaction. Buyer and seller information was not …

PCCP, Strategic Capital to Develop Two Industrial Buildings Totaling 724,878 SF Adjacent to Indianapolis Airport

INDIANAPOLIS — PCCP has formed a joint venture with Indianapolis-based Strategic Capital Partners LLC to develop the next phase of Metro Air Business Park in Plainfield on a speculative basis. The 100-acre business park is located along Ronald Reagan Parkway, adjacent to the Indianapolis International Airport. The next phase of development will total 724,878 square feet and will include a 223,480-square-foot Building 8 and a 501,398-square-foot Building 9. Construction is expected to begin in …

Conferences