FORT WAYNE, IND. — Marcus & Millichap has negotiated the sale of The Storage Place, a 45,950-square-foot self-storage facility in Fort Wayne. The property comprises 15 drive-up buildings with 423 non-climate-controlled units and 36 outdoor parking spaces. It is located adjacent to Fort Wayne International Airport. Jeffrey Herrmann and Sean Delaney of Marcus & Millichap represented the seller and procured the buyer, both of which were Indiana-based limited liability companies.
INDIANAPOLIS — General contractor Skender has completed common area upgrades and four office build-outs at Keystone Crossing, a five-building, 1.1 million-square-foot office park in Indianapolis. The four tenant build-outs, totaling 57,000 square feet, and common area enhancements were completed on behalf of landlords Interamar and Typerion Holdings, which acquired the campus in late 2024 and are implementing a significant repositioning. At the 8888 Building, Skender completed a 15,000-square-foot gut remodel of the existing 16th floor and turned the space into a modern workplace for WestPoint Financial Group, a MassMutual firm. At the 9000 Building, Skender completed a 7,000-square-foot build-out for the Indiana Apartment Association. The workspace includes a new training room, breakroom and several private offices. At this building, Skender also converted two former ground-floor suites into a new amenity center with a café, fitness center, golf simulators and upgraded restrooms. At the 9100 Building, Skender completed the 21,000-square-foot national headquarters for Delta Tau Delta. The project included full demolition of the existing space and a renovation, including private offices, a breakroom and dedicated display areas showcasing the fraternity’s history and memorabilia. Skender also completed a 14,000-square-foot office build-out for accounting firm CliftonLarsonAllen. The workspace includes a café, training room …
NEW ALBANY, IND. — Marcus & Millichap has arranged the sale and financing of The Villas at Green Valley, an 84-unit multifamily property in New Albany near Louisville. The asset sold for $14.1 million. Tony Rogers and Aaron Kuroiwa of Marcus & Millichap represented the seller, a southern Indiana-based developer, and procured the buyer, a California-based investor. Chad O’Connor of Marcus & Millichap Capital Corp. secured $9.2 million in financing through a national bank on behalf of the buyer. The loan features a 10-year term, 65 percent loan-to-value ratio, 5.85 percent interest rate and 30-year amortization period. Built in 2023, The Villas at Green Valley is situated on Green Valley Road and features a mix of one-, two- and three-bedroom floor plans across 93,840 rentable square feet. The new ownership plans to enhance the amenity package by utilizing additional green space.
WESTFIELD, IND. — Structural engineering firm O’Donnell & Naccarato has topped out the new Westfield Police Headquarters, a $35 million public safety facility. The new headquarters, rising two stories and totaling 63,000 square feet, will replace the city’s existing public safety building. The project team includes architect Dewberry, construction manager Skender and the City of Westfield as the project owner. The design incorporates a range of structural systems and materials as well as a 2,700-square-foot storm shelter. The project also includes planning for a future 30,000-square-foot expansion to accommodate the city’s growth. The topping out marks the completion of the building’s structural framework. The project is on track for completion in 2027.
BLOOMINGTON, IND. — Knighthead Funding has provided a $39.75 million first mortgage loan to refinance Stadium Crossing, a 226-unit, 734-bed student housing property in Bloomington located directly across from Indiana University Memorial Stadium. The borrower, Varsity Properties, has owned and operated the community for many years. Stadium Crossing was built in the 1980s.
WHITESTOWN, IND. — JLL Income Property Trust has acquired Whitestown Distribution Center III, a Class A industrial facility in the Indianapolis suburb of Whitestown, for approximately $60 million. The 605,000-square-foot property is fully leased to a single tenant with a seven-year remaining lease term featuring 2.5 percent annual escalations. Developed in 2023, the asset features a clear height of 36 feet.
INDIANAPOLIS — The 800-room Signia by Hilton Indianapolis hotel is now available for reservations beginning Feb. 1, 2027. The project marks the city’s tallest hotel and the Indiana Convention Center’s newest headquarters hotel, according to Hilton. It will also be the first property in both the Midwest and Indiana for the “approachable luxury brand.” The City of Indianapolis will own the hotel, with operations led by the Capital Improvement Board of Managers of Marion County, a municipal corporation of Marion County. The hotel will be located along the Georgia Street pedestrian promenade in the Wholesale District, with direct access via skywalk to the Indiana Convention Center. The property will offer convenient access to Lucas Oil Stadium and Gainbridge Fieldhouse. Designed by Ratio Design, the property will include 70 suites ranging from 450 to 1,900 square feet. The interiors, designed by Rottet Studio Architecture and Design, will abstractly reference Indianapolis’s connection to car culture and the luxury of auto racing. The property will also feature a public art collection curated by Art Strategies. Guests will enjoy seven chef-driven dining and bar concepts, including a lobby bar, an all-day restaurant focused on elevated comfort fare and a 38th-floor bar and lounge. Additional …
MERRILLVILLE, IND. — Quantum Real Estate Advisors Inc. has brokered the sale of a three-building retail and office portfolio in Merrillville for $6.9 million. Brett Berlin and Dan Waszak of Quantum represented the seller, Time Equities Inc. The buyer, a Midwest-based fund, plans to invest significant capital into the value-add properties.
PITTSBORO, IND. — Faith Technologies Inc. (FTI) is expanding to Pittsboro, about 30 miles northwest of Indianapolis, and has begun construction on a 500,000-square-foot manufacturing facility within Opus’ Pittsboro Commerce Center. FTI delivers solutions in engineering, construction, manufacturing and clean energy. The new Pittsboro facility will support FTI’s Excellerate brand, which specializes in modular electrical assemblies and energy solutions. The project will create more than 200 skilled manufacturing and electrical jobs. Pittsboro Commerce Center is a new 170-acre industrial development planned by Opus that is located near I-74. Opus sold 47 acres to FTI and is currently completing site infrastructure, including grading, access roads and utilities. FTI is serving as general contractor for its facility, which marks the first building within the development. Opus plans to build out the remainder of the project in phases. The State of Indiana and Hendricks County provided incentive-based tax credits through the Indiana Economic Development Corp. and a property tax abatement through Hendricks County based on FTI’s expected impact on economic growth and job creation in Pittsboro and the surrounding region.
INDIANAPOLIS — Greenstone Partners has brokered the $4.8 million sale of a 60,000-square-foot shallow-bay industrial property located at 450 S. Kitley Ave. on the east side of Indianapolis. The two-tenant building is fully leased. Jason St. John of Greenstone represented the seller and procured the buyer, which closed the transaction 30 days after execution of the purchase and sale agreement. Both tenants are operating below prevailing market rents, providing a future revenue growth path upon lease rollover, according to Greenstone.
