DYER, IND. — Skilled nursing developer Mainstreet and operator Symphony Post Acute Network have opened Symphony of Dyer, a skilled nursing facility in Dyer approximately 30 miles south of Chicago. Construction on the facility began in June 2014. It comprises 130 beds in 85,108 square feet of space. Development costs were $20.8 million.
HAMMOND, IND. — Transwestern has arranged the sale-leaseback of the Kaplan College building in Hammond, which is approximately 30 miles from Chicago. The property is 24,440 square feet and was sold to an undisclosed private investor for $3.5 million. Education Corporation of America (ECA) sold the facility which is located at 7833 Indianapolis Blvd. Marc Imrem and Andrew Watson of Transwestern represented the seller. ECA operates a platform of schools in the post-secondary education sector. Transwestern is a privately held real estate firm that specializes in agency leasing, management, tenant advisory, capital markets, research and sustainability services.
INDIANAPOLIS — Brennan Investment Group LLC has acquired an industrial portfolio of 10 buildings consisting of four multi-tenant, light-industrial properties. The purchase price was undisclosed. The properties, which are located in three Indianapolis submarkets, total 544,810 square feet. Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets. Since 2010, Brennan has acquired over $1 billion in industrial real estate.
FORT WAYNE, IND. — Bradley Co. arranged a combination of office, industrial and retail leases in August totaling approximately 5,700 square feet. Dan Dickey of Bradley Co. represented landlord J.D. Ventures in the lease of a 3,000-square-foot industrial space located at 1905 Production Road in Fort Wayne. Tyler Binkley of Bradley Co. represented the tenant, IASA Group LLC. Anna Bowman of Bradley Co. represented the tenant, Stevens International, in its lease of a 1,999-square-foot office space located at 6527 Constitution Drive in Fort Wayne. Binkley and Bowman also represented the landlord, American Way LLC, in the lease of a 686-square-foot retail space located in Colony Shoppes at 6431 Bluffton Road in Fort Wayne. Binkley also represented the tenant, Boost Mobile, in the transaction.
INDIANAPOLIS — Cushman & Wakefield | Summit Realty Group has arranged the sale of 130 E Washington St., a 203,250-square-foot office building in downtown Indianapolis for $9.2 million. Cushman & Wakefield (C&W)|Summit marketed the property on behalf of the seller, Perennial Washington St. LLC. Onward Investors LLC purchased the asset. The building was formerly known as the Meyer-Kiser Bank Building. Tenants of the property include Arcadis and the national governing bodies of USA Track and Field, Diving, Gymnastics, and Synchronized Swimming. Summit Realty Group has also been retained by new ownership to oversee property management and leasing of the project.
MUNCIE, IND. — Dean Weidner, founder of Weidner Property Apartment Homes, donates $1 million to Ball State University, which recently unveiled its Weidner Center for Residential Property in Muncie. The donation will expand the university’s residential property management (RPM) program that began in 1999 and was the country’s second university-based RPM program. The newly renovated Applied Technology Building features interview rooms, a resource desk and a lobby with video monitors for marketing purposes.
JEFFERSONVILLE, IND. — GBT Realty Corp. has partnered with The Koetter Group to develop a $35 million regional retail center within Jeffersonville Town Center, a master-planned, mixed-use development in Jeffersonville in far southern Indiana. The companies are under contract to purchase 24.7 acres located immediately across from the Phase I Marketplace at Jeffersonville Town Center. The 240,000-square-foot shopping destination will feature two anchor tenants of 55,000 and 63,000 square feet; two junior anchor tenants of 28,000 and 22,000 square feet; and 30,000 square feet of small-shop space. Additionally, two buildings along Town Center Boulevard will feature 25,000 square feet of small-shop space for local and regional retail, dining and service provides. Site work is expected to begin immediately upon land acquisition, which is expected to close in December. The development is slated to open in the spring of 2017.
FORT WAYNE, IND. — Bradley Co. has arranged two leases and one condominium sale across various property types in Fort Wayne. Kienan O’Rourke of Bradley Co. represented the tenant, Vintage Treasures LLC, in the lease of 21,600 square feet of retail space located at 265 Coliseum Blvd. In a separate transaction, O’Rourke represented the seller, B&R Real Estate, in the sale of a 2,077-square-foot office condo located at 515-519 Airport North Office Park in Fort Wayne to an undisclosed buyer. In a third transaction, O’Rourke represented the landlord, Kurt Mundinger, in the lease of 7,108 square feet of industrial space located at 224 E. Wallace St. to Three Rivers Distilling Co. Kelly Castle, also of Bradley Co., represented the tenant in the transaction. Terms and additional details of the transactions were not released.
INDIANAPOLIS, GREENWOOD AND CARMEL, IND. — The Boulder Group has brokered the sale of a single-tenant, net-leased Jiffy Lube portfolio consisting of seven properties in metro Indianapolis. A high-net-worth foreign investor acquired the portfolio for $6.6 million from a Midwest-based private partnership. The properties are 8175 Allisonville Road, 7765 US 31 South, 5444 W. 38th St., 7220 W. 10th St. and 7969 Pendleton Pike in Indianapolis; 1495 Keystone Way in Carmel; and 532 N. State Road 135 in Greenwood. All of the Jiffy Lube leases have more than seven years remaining and expire in November 2022. The leases, which are absolute triple net, also feature three five-year renewal options with rental escalations in each. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction.
PLAINFIELD, IND. — Poag Shopping Centers has selected Woolpert to provide design and engineering services for the $11 million redevelopment of its 600,000-square-foot retail center in Plainfield. The architecture, engineering and geospatial firm will plan for the reconfiguration of structural, mechanical, electrical, civil and underground utility systems at the shopping center. In October, Metropolis Lifestyle Center will be renamed The Shops at Perry Crossing. More than 44 stores and restaurants, including Dick’s Sporting Goods, JCPenney, Barnes & Noble, Old Navy and Carmike Cinemas, occupy the center. Construction began in July, with a grand reopening slated for this fall.
