Indiana

WEST LAFAYETTE, IND. — Varcity has unveiled plans to open Varcity at Purdue, a 239-unit, university-based retirement community within Purdue University’s Discovery Park District. Developed in partnership with Purdue University and the Purdue for Life Foundation, the property will bring a new generation of residents to campus. Varcity calls the concept “Retirement Renaissance” and says it creates “a lifestyle built around lifelong learning, meaningful relationships, wellness and continued purpose.” The 13.5-acre project will include villas, townhomes, stacked flats and concierge residences. The community will be co-developed with Atlanta-based Carter and professionally managed by Western States Lodging. Reach Architects and Gensler designed the property. The developer also says Varcity at Purdue represents a new model for higher education partnerships. “By activating underutilized university land, campuses gain a sustainable revenue source while creating opportunities for students through internships, mentorship, healthcare experiences, hospitality and daily intergenerational engagement.” Residents of Varcity could attend lectures from faculty, cheer on the Boilermakers, mentor students, take continuing education classes, enjoy concerts and performances or volunteer their time.   Varcity at Purdue marks the first in a growing national portfolio. A second community at Texas A&M University is currently in development, with groundbreaking anticipated in early 2027.

FacebookTwitterLinkedinEmail

VALPARAISO, IND. — McColly Bennett Commercial Advantage has negotiated the $15 million sale of a 43,500-square-foot medical office building in Valparaiso. The seller, Viking Medical Center, acquired and envisioned the future of the unfinished building two years ago. Construction on the building launched in 2018 when it was envisioned as a dialysis center. However, due to financial issues, the original tenant never took occupancy and the building sat incomplete and vacant until Viking Medical Center acquired the property and hired Hasse Construction to complete the build-out of the Class A medical facility. The two-story building features three elevators, a covered patient drop-off canopy, dedicated covered physician and staff parking and visitor parking for 182 vehicles. Adriana Gomez and Jeff Bennett of McColly Bennett marketed the property.

FacebookTwitterLinkedinEmail

MERRILLVILLE, IND. — Colliers has arranged the sale of The Ridge Apartments in Merrillville within Northwest Indiana. Bryce Wetzel, Tyler Hague, Lauren Stoliar and Ryan Roegner of Colliers represented the owner, Parkmont Group, a real estate investment and operating firm based in New York. Originally developed between 1970 and 1981 and renovated in 2024, the property features a variety of one- and two-bedroom floor plans. Amenities include a sundeck, landscaped courtyards and onsite laundry facilities. Morgan Properties was the buyer.

FacebookTwitterLinkedinEmail

SKOKIE, ILL. AND MUNSTER, IND. — Bradford Allen has negotiated two leases on behalf of Illinois Retina in the Chicago market. The medical services provider signed a 16,228-square-foot lease in Skokie, Ill., as well as an 8,728-square-foot lease in Munster, Ind., about 30 miles southeast of Chicago. Craig Nadborne of Bradford Allen negotiated the leases for Illinois Retina. Nadborne has completed more than a dozen renewals, relocations, expansions and renegotiations on behalf of the tenant over the past 20 years. The Skokie office is at Concourse Office Plaza. The long-term transaction marked a renewal and expansion from approximately 3,000 square feet. The property comprises two 12-story medical office buildings. Illinois Retina’s Munster office relocated from a smaller facility to 9200 Calumet Ave., a single-story medical office complex.

FacebookTwitterLinkedinEmail

INDIANAPOLIS AND LOS ANGELES — Milhaus, a multifamily developer and operator based in Indianapolis, has completed its merger with SRG Residential, a subsidiary of Sares Regis Group based in Newport Beach. The combined company totals 1,400 employees and includes 50,000 apartments under management — 46,000 of which come from 190 properties managed by SRG Residential — as well as a development pipeline exceeding $2.5 billion. The combined company, which will be operated under the Milhaus platform, plans to start eight development projects this year totaling more than 2,000 new units in Southern California, Denver and Phoenix, giving Milhaus a presence in more than 20 markets across the country. Chris Payne, former CEO of SRG Residential, joins Milhaus as both the chief development officer and a shareholder. Jeff Bailey, president of property management at SRG Residential and a shareholder, now leads the property management group at Milhaus. “This partnership is a natural fit,” says Tadd Miller, CEO of Milhaus. “SRG Residential brings a best-in-class, high-touch approach to property management and operations along with a quality development pipeline and seasoned leadership, while Milhaus contributes a high-quality owned portfolio and disciplined development and capital markets infrastructure.” “We are unlocking powerful synergies and long-term opportunities …

FacebookTwitterLinkedinEmail

INDIANAPOLIS — Colliers has negotiated the sale of a six-building industrial portfolio totaling 954,072 square feet throughout the Northwest, Northeast and Southwest submarkets of metro Indianapolis. The assets are located in Indianapolis, Fishers and Plainfield. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Jason Speckman, Jimmy Cohoat and Andrea Hopper of Colliers represented the seller, EQT. Wisconsin-based MLG Capital was the buyer. The portfolio was 90 percent leased to 10 tenants at the time of sale with a weighted average lease term of 4.6 years. Suite sizes range from approximately 24,000 square feet to more than 260,000 square feet. Roughly 40 percent of the square footage is leased to investment-grade tenants. Four of the six assets are located within Park 100, one of the largest industrial parks in Indianapolis.

FacebookTwitterLinkedinEmail

FAIRLAND, IND. — Prime Beverage Group, a beverage contract manufacturer, has expanded into the Indianapolis market. The company has secured approvals to establish a beverage production facility in Fairland, a southeast suburb of Indianapolis. The property is part of Velocity 74 Trade Center, an industrial development from Browning Real Estate Partners. The tenant also maintains production and warehousing operations in North Carolina. According to Prime, the new Midwest location will provide improved supply chain efficiency, faster turnaround times and greater accessibility for its brand partners in Midwest markets. The Indiana facility totals 915,720 square feet. Warren Snowdon of Foundry Commercial and Brian Zurawski of Colliers represented Prime. Jimmy Cohoat and Jason Speckman of Colliers represented Browning.

FacebookTwitterLinkedinEmail

BROWNSBURG, IND. — JLL Capital Markets has brokered the sale of Park 74 Commerce Center, a two-building industrial portfolio totaling 826,687 square feet in Brownsburg within metro Indianapolis. The portfolio includes a 580,884-square-foot cross-dock facility and a 245,803-square-foot rear-load building, both constructed in 2024. Building features include clear heights of 40 and 32 feet, 84 dock doors, ample trailer parking and connectivity to the CSX railway via an active rail spur. The properties are fully leased to three tenants representing abrasives manufacturing, electric motors and flexible film production. The assets provide immediate access to I-74 via Ronald Reagan Parkway. Sean Devaney, Kurt Sarbaugh, Ed Halaburt, Ross Bratcher, Cameron Chandra and Luke Davis of JLL represented the sellers, Brennan Investment Group and RGA ReCap Inc., on behalf of Reinsurance Group of America Inc. Brian Buschuk and Brian Seitz provided local market expertise out of JLL’s Indianapolis office. Buyer information was not provided.

FacebookTwitterLinkedinEmail

ELKHART, IND. — CBRE has arranged the sale of a 112,862-square-foot industrial building located at 3701 S. Main St. in Elkhart. CBRE’s Will Roberts, Steve Timmel and Chris Deutscher represented the seller, Industrial Commercial Properties, which redeveloped the former Concord Mall into Concord Business Park. The project to convert the former JC Penney store included a full interior demolition, increased clear heights and the addition of loading docks and drive-in doors. The property was fully leased at the time of sale to LEER Group. Vault Equity Partners was the buyer.

FacebookTwitterLinkedinEmail

INDIANAPOLIS — Colliers has arranged the sale of County Line Commerce Park Building II, a 324,880-square-foot industrial facility in southern Indianapolis. Built by Peterson Construction in 2025 as a build-to-suit project, Building II sits on 26.8 acres and features a clear height of 36 feet, 25 dock-high doors and 330 parking spaces. The building is the first to be completed within County Line Commerce Park, a 117-acre master-planned industrial complex that is planned to eventually feature four industrial buildings, two retail outlets and a hotel. Alex, Cantu, Alex Davenport, Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, a joint venture between Citimark and developer Gershman Partners, in the transaction. The buyer, Alfa Laval, a Swedish heating equipment manufacturer, occupies the facility for its North American manufacturing, testing and research and development headquarters.

FacebookTwitterLinkedinEmail
Newer Posts