Indiana Archives - REBusinessOnline

Highgates Sells Multifamily Property in New Albany, Indiana for $9.5M

Kristin Harlow — Fri, 25 Sep 2026 13:09:46 +0000

NEW ALBANY, IND. — Highgates has sold High Park Apartments, a 96-unit multifamily community in New Albany near Louisville, for $9.5 million. Highgates acquired the property in July 2019 for $6.7 million utilizing a 10-year, fixed-rate Fredie Mac loan at a rate of 4.4 percent. During the hold period, the firm invested roughly $500,000 in capital improvements, including roofing, HVAC systems and unit interiors.

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Venture One Breaks Ground on 1.2 MSF Distribution Facility for Amazon in Northwest Indiana

Kristin Harlow — Thu, 24 Sep 2026 14:19:30 +0000

CROWN POINT, IND. — Venture One Real Estate has broken ground on a 1.2 million-square-foot build-to-suit distribution facility for Amazon at VenturePark 65 in Crown Point. The new facility will support Amazon’s distribution network across the Chicagoland and Northwest Indiana markets and is expected to create approximately 500 jobs. The project marks Chicago-based Venture One’s second development in Indiana. The project team includes Venture One as developer, Premier Design + Build Group as general contractor, Ware Malcomb as architect and Jacob & Hefner as civil engineer. Ryan O’Leary of KBC Advisors assisted Amazon in its site selection, and Brian Vanosky and Michael O’Leary of Lee & Associates represented Venture One.

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JLL Arranges Sale of 500,406 SF Industrial Building Near Indianapolis

Kristin Harlow — Wed, 23 Sep 2026 13:43:19 +0000

MOORESVILLE, IND. — JLL Capital Markets has arranged the sale of Westpoint Business Park, Building IV, a 500,406-square-foot sustainable food packaging building in Mooresville near Indianapolis. Completed in 2022, the cross-dock facility is fully leased to a packaging and manufacturing company. It features a clear height of 40 feet, 52 dock-high doors, three drive-in doors, a 140-foot truck court, 319 automobile parking spaces and 60 trailer parking positions. The property also includes 12,417 square feet of office space. John Huguenard, Ed Halaburt, Will McCormack and Cameron Chandra of JLL represented the seller, Ambrose. SkyREM acquired the asset.

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Boulder Group Arranges $4.5M Sale of Retail Property Leased to CVS in Zionsville, Indiana

Kristin Harlow — Thu, 17 Sep 2026 12:56:34 +0000

ZIONSVILLE, IND. — The Boulder Group has arranged the $4.5 million sale of a single-tenant retail property net leased to CVS in Zionsville. The building is located at 6511 Whitestown Parkway near the interchange of I-65 and Whitestown Parkway. Randy Blankstein, Jimmy Goodman and John Feeney of Boulder Group represented the seller, a West Coast-based real estate fund, and the West Coast-based 1031 exchange buyer. Approximately 15 years remain on the CVS lease. The landlord has zero ongoing property management responsibilities under the triple net lease structure. CVS Health operates approximately 9,000 retail pharmacy locations across the United States.

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Eisenberg Foundation Expands Mentorship Program into Indianapolis

Kristin Harlow — Wed, 16 Sep 2026 13:11:40 +0000

INDIANAPOLIS — The Harold E. Eisenberg Foundation is expanding its real estate mentorship program to Indiana. Headquartered in the north suburbs of Chicago, the foundation’s mentorship program has worked with more than 2,200 college and university students and over 100 professionals. Students can now request mentorships from more than 50 industry leaders in the greater Indianapolis area at no cost to the student, college or university. Students will select their mentor, based on their interests and availability, to schedule a full-day job shadow experience. The mentors are experts in brokerage, capital/financial markets, development, investment and management. Luke Lonneman of JLL, Ralph Shiley of Scannell Properties and John Snell of Snell Real Estate Evaluation Co. serve as the leadership of the Eisenberg Foundation’s Indiana Mentorship Advisory Committee and will oversee the program. The expansion of the mentorship program into Indiana can be attributed in part to the success and growth of other programs hosted by the foundation. Last spring, university teams from Indiana University in Bloomington, University of Indiana in Indianapolis and University of Notre Dame participated in the Eisenberg Foundation’s Annual Real Estate Challenge, a case competition. Additionally, as many as 30 students from Indiana college and universities typically participate…

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Starwood Capital, Trinitas to Develop Three Student Housing Communities Totaling 2,046 Beds

Kristin Harlow — Fri, 11 Sep 2026 13:47:48 +0000

CARMEL, IND. AND MIAMI BEACH, FLA.— Starwood Capital Group and Trinitas Ventures have formed a joint venture to develop three student housing communities totaling 2,046 beds. Projects include Atmosphere Pittsburgh, a 672-bed development located at 217 Halket St. near Carnegie Mellon University in the city’s Oakland neighborhood; Atmosphere Norman, a 677-bed project located at 310 East Boyd St. near the University of Oklahoma in Norman; and Atmosphere on Mifflin, a 697-bed development located at 619 West Mifflin St. near the University of Wisconsin-Madison campus. All three communities are scheduled for completion in summer 2028. Ryan Lang led Newmark’s student housing team in arranging the joint venture. Trinitas Ventures is headquartered in Carmel, and Starwood Capital Group is headquartered in Miami Beach.

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Colliers Arranges Sale of 1.5 MSF Industrial Portfolio in Indianapolis

Kristin Harlow — Tue, 08 Sep 2026 12:57:54 +0000

INDIANAPOLIS — Colliers has arranged the sale of the Indianapolis West Infill Industrial Portfolio, a 1.5 million-square-foot, 29-building light industrial portfolio located within the Park 100 and Park Fletcher industrial parks in Indianapolis. The portfolio spans the city’s Northwest and Southwest submarkets. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Tyler Wilson, Jason Speckman and Sydney Gabriel of Colliers represented the undisclosed seller. MLG Capital, on behalf of MLG Legacy Fund and 1031 exchange investors, purchased the portfolio, which is 94 percent leased to 158 tenants. The properties feature an average clear height of 15 feet with a total of 194 dock doors and 155 drive-in doors. The buildings range in size from 16,000 to 157,000 square feet.

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Gilbane, Purdue Fort Wayne Open 600-Bed Student Housing Development in Indiana

Kristin Harlow — Thu, 20 Aug 2026 12:44:30 +0000

FORT WAYNE, IND. — Gilbane and Purdue University Ford Wayne (PFW) have opened Trace, a 600-bed student housing complex on PFW’s North Campus made possible through a public-private partnership. PFW is continuing its transition from a commuter campus by offering a more traditional residential community, addressing the need for more student housing, which has been at full capacity for seven consecutive fall semesters. Located near Ginsberg Hall, the four-story, 213,000-square-foot development includes 176 units spanning studio to four-bedroom accommodations. Nearly half of the beds are reserved for university-contracted students while the remaining will be available for other students, including those enrolled at other colleges and universities, who will lease the complex directly. Amenities at the property include a convenience store, fitness center, gaming room, study space, lounges, a reception area, leasing office and multipurpose spaces. Outdoor amenities include a hammock farm, sand volleyball court, basketball court, grilling areas, fire pits and green space. Gilbane served as developer and construction manager, AVB was the design-builder and Progressive AE was the architect. The complex will be owned by Strategic Facility Partners and operated by Inwood Management.

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Marcus & Millichap Brokers $3.1M Sale of Dutch Bros-Occupied Retail Property in Indiana

Kristin Harlow — Thu, 20 Aug 2026 12:42:13 +0000

VALPARAISO, IND. — Marcus & Millichap has brokered the $3.1 million sale of a newly built retail property net leased to Dutch Bros in Valparaiso. The 2,495-square-foot building is located at 2510 Laporte Ave. as a Target outlot within Valparaiso Market Place. It operates under a new 15-year absolute triple-net lease and is corporately guaranteed by Boersma Bros LLC. The property is roughly one mile from the Valparaiso University campus. Austin Weisenbeck, Sean Sharko, Adrian Mendoza and Phoebe Klein of Marcus & Millichap, in association with Julia Evinger, the firm’s Indiana broker of record, represented the seller, a Midwest developer. The team secured an Indiana-based buyer. The transaction closed at more than 96 percent of the listing price.

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JLL Negotiates Sale of 1.1 MSF Subaru Distribution Facility in Metro Indianapolis

Kristin Harlow — Tue, 18 Aug 2026 13:19:39 +0000

WHITESTOWN, IND. — JLL Capital Markets has negotiated the sale of Subaru at Park 267, a 1.1 million-square-foot distribution facility in the Indianapolis suburb of Whitestown. John Huguenard, Ed Halaburt, Ross Bratcher and Cameron Chandra of JLL represented the seller, a joint venture between Prologis and Browning. LaSalle Investment Management acquired the asset. Browning’s construction division constructed the build-to-suit development in 2024. The facility is fully leased to Subaru of America Inc. and serves as the largest distribution center within its nine-facility national network. The property features a clear height of 40 feet, 108 dock-high doors, four drive-in doors, cross-dock configuration with 135 feet of truck court depth and LEED Silver certification. The site includes 342 automobile parking spaces and 100 trailer parking spaces across 69.7 acres.

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MDH Partners Acquires 1 MSF Industrial Building in Greenfield, Indiana

Kristin Harlow — Thu, 13 Aug 2026 13:16:17 +0000

GREENFIELD, IND. — MDH Partners has acquired 70 Connect III, a 1 million-square-foot industrial building in Greenfield within metro Indianapolis. Developed by Lauth on a speculative basis, the property sits along West 350 North in the East industrial submarket. JLL represented the seller. MDH’s Houston Hawley led the acquisition for the firm. The cross-docked building features a clear height of 40 feet, 108 dock doors expandable to 216, four drive-in doors, an ESFR sprinkler system and 8-inch slabs. MDH will complete a capital improvement program that will double trailer parking from 115 spaces to roughly 230 positions, expand the speculative office and complete a full interior and exterior repaint along with other improvements, delivering a move-in-ready building for a large user. JLL’s Brian Buschuk and Brian Seitz will handle leasing for MDH.

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Wafra Acquires 899,080 SF Industrial Portfolio in Brownsburg, Indiana

Kristin Harlow — Wed, 12 Aug 2026 13:51:07 +0000

BROWNSBURG, IND. — Wafra Inc., a New York-based alternative investment firm, has acquired Brownsburg Logistics Park Portfolio, a collection of three industrial buildings totaling 899,080 square feet in Brownsburg. Funds advised by Wafra are acquiring the assets from a venture between Scannell Properties and Manulife Investment Management. Completed in 2022 and 2023, the buildings are home to seven tenants. The portfolio offers direct access to I-74 and is located about 12 miles from the Indianapolis International Airport.

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Matthews Brokers $9.5M Sale of Goodwill Distribution Facility in Greenwood, Indiana

Kristin Harlow — Wed, 12 Aug 2026 13:49:10 +0000

GREENWOOD, IND. — Matthews has brokered the $9.5 million sale of a Goodwill distribution facility in Greenwood. The transaction marked the highest-priced industrial property sale in the Johnson County submarket over the past year, according to Matthews. Built in 2016, the approximately 125,000-square-foot property sits on 18 acres with immediate access to I-65. The asset is leased to Goodwill Industries of Central Indiana and is positioned alongside major industrial users including Amazon, FedEx and Ulta. Alexander Harrold and Brett Davis of Matthews represented both the seller and the 1031 exchange buyer. Matthews leveraged Artemis, the firm’s proprietary artificial intelligence-powered customer relationship management platform, to identify a targeted pool of qualified industrial investors.

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Northmarq Arranges Sale of 190-Unit Multifamily Property in Jeffersonville, Indiana

Kristin Harlow — Fri, 07 Aug 2026 12:48:20 +0000

JEFFERSONVILLE, IND. — Northmarq has arranged the sale of Jeff on 10th, a 190-unit multifamily property in Jeffersonville, a suburb of Louisville. Bobby Schiavone, Adam Klenk and Jordan Arand of Northmarq represented the seller, a regional multifamily developer. The buyer was S&S Properties Investment. Noah Juran and Brendan Barker of Northmarq arranged permanent fixed-rate financing on behalf of the buyer through the firm’s Fannie Mae DUS platform. The loan features a seven-year term. Built in 2022, Jeff on 10th offers a mix of studio, one- and two-bedroom units with amenities such as a pool, fitness center, outdoor grilling areas, fire pits, a conference center and pet spa.

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Matthews Arranges $16.1M Sale of Veterinary Portfolio in Illinois, Indiana

Kristin Harlow — Thu, 06 Aug 2026 13:10:58 +0000

ILLINOIS AND INDIANA — Matthews has arranged the $16.1 million sale of a four-hospital veterinary portfolio in Illinois and Indiana. Michael Moreno, Rahul Chhajed and Andrew Evans of Matthews arranged the sale, with Kyle Matthews serving as broker of record. The assets total 37,718 square feet and are leased to two veterinary operators under triple net lease structures. The seller brought the portfolio to market as the down leg of a 1031 exchange, and the buyer was looking to expand its veterinary portfolio.

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Northmarq Arranges $52.1M in Financing for Maple Knoll Apartments in Westfield, Indiana

Kristin Harlow — Tue, 04 Aug 2026 13:35:13 +0000

WESTFIELD, IND. — Northmarq has arranged debt and equity capital totaling $52.1 million for Maple Knoll Apartments, a 300-unit, garden-style community in Westfield. Annamarie Bjorklund and Cody Field of Northmarq arranged the financing on behalf of the borrower, Hudson Investing, through a repeat equity partnership with Torchlight Investment and Freddie Mac. Hudson plans a comprehensive renovation at the property. Built in 2007, Maple Knoll Apartments features 18 three-story buildings situated on nearly 24 acres. The community offers one-, two- and three-bedroom floor plans averaging 1,002 square feet.

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Varcity to Open 239-Unit Retirement Community at Purdue University in West Lafayette

Kristin Harlow — Mon, 03 Aug 2026 13:39:38 +0000

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.

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McColly Bennett Negotiates $15M Sale of Medical Office Building in Valparaiso, Indiana

Kristin Harlow — Fri, 31 Jul 2026 13:37:16 +0000

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.

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Colliers Arranges Sale of 360-Unit Multifamily Community in Merrillville, Indiana

Kristin Harlow — Wed, 29 Jul 2026 13:50:26 +0000

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.

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Bradford Allen Negotiates Two Office Leases for Illinois Retina in Chicago Market

Kristin Harlow — Mon, 20 Jul 2026 13:46:39 +0000

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.

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