Indiana

Colliers International Negotiates $4.9M Sale of Historic Office Building in Downtown Indianapolis

by Christina Cannon February 9, 2016

INDIANAPOLIS — Colliers International has negotiated the sale of an 82,565-square-foot historic office building in downtown Indianapolis for $4.9 million. NAYA USA Investment purchased the building, One North Pennsylvania, from One North Penn LLC. The building was constructed in 1909 and is currently 69 percent leased. Tenants at the property include Centier Bank, Pita Pit and Alpha Tau Omega. Alex Cantu, John Demaree, Matt Langfeldt and Rich Forslund of Colliers International represented the seller in the transaction. Beau Ansty of Stenz Management represented the buyer.

February 9, 2016

Indiana Industrial Midwest

Cushman & Wakefield Arranges $43M Sale-Leaseback of Industrial Property in Greenfield, Indiana

by Christina Cannon February 4, 2016

GREENFIELD, IND. — Cushman & Wakefield has arranged a $43 million sale-leaseback of a cold storage distribution center in Greenfield, approximately 25 miles east of Indianapolis. Centurion Investments LLC acquired the 419,052-square-foot asset from Smithfield Foods Inc. and is subsequently leasing it back to a subsidiary of Smithfield Foods. The distribution center is situated on 48 acres and is located within the Axcess 70 Business Park. The facility includes 203,081 square feet of cooler space, 81,086 square feet of freezer space, 40,498 square feet of swing rooms, two floors of office space, 48-foot clear heights and the opportunity to expand by an additional 200,000 square feet. Scott Goldman, Michael Christian and Jeff Castell of Cushman & Wakefield represented Smithfield Foods in the transaction.

February 4, 2016

Indiana Industrial Midwest

JLL Arranges 43,750 SF Industrial Lease in Indianapolis

by Christina Cannon February 4, 2016

INDIANAPOLIS — JLL has arranged a 43,750-square-foot industrial lease in Indianapolis. Carpet Cushion & Supplies, a wholesale distributer of carpet pads and flooring installation products, will occupy the space at 6737 E. 30th St. The facility was built in 1995 and features high-quality finishes that will work well as a showroom for Carpet Cushion & Supplies. Brian Seitz and Brian Buschuk of JLL represented the landlord, First Industrial, in the transaction. Joel Friedland and Steve Stone of Transwestern and Steve Schwegman of JLL represented the tenant.

February 4, 2016

Healthcare Indiana Midwest

The Boulder Group Completes $3.7M Sale of Net-Leased Medical Building in Vincennes, Indiana

by Christina Cannon February 3, 2016

VINCENNES, IND. — The Boulder Group has completed the $3.7 million sale of a single-tenant net-leased building in Vincennes. The 6,488-square-foot property, located at 300 N. 1st St., is leased to Fresenius Medical Care. The facility was built in 2015. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private partnership, in the transaction. The purchaser was a high-net-worth individual based on the West Coast. The newly signed 15-year Fresenius lease features 2 percent annual rental escalations.

February 3, 2016

Indiana Midwest Multifamily Seniors Housing

Mainstreet, Trilogy Finish Construction of $12.9M Skilled Nursing Facility in Indiana

by Christina Cannon January 25, 2016

MOORESVILLE, IND. — Mainstreet, a skilled nursing developer based in Indiana, and Trilogy Health Services, an operator based in Kentucky, have completed construction of The Springs of Mooresville, a 70-bed skilled nursing facility in Mooresville, a suburb of Indianapolis. Construction began in March 2015. The community is now open. The 48,034-square-foot building cost $12.9 million to develop.

January 25, 2016

Indiana Industrial Midwest

HSA Commercial Arranges 100,335 SF Industrial Lease in Indianapolis Suburb

by Christina Cannon January 25, 2016

PLAINFIELD, IND. — HSA Commercial Real Estate has arranged a 100,335-square-foot industrial lease in Plainfield, a southwestern suburb of Indianapolis. Kuehne + Nagel, a Switzerland-based global logistics service provider, will be expanding its lease at Gateway Industrial III, bringing the building to full occupancy. The 220,000-square-foot distribution center is located at 1025 S. Columbia Road. Kuehne + Nagel currently occupies 59,895 square feet at the facility. A partnership between HSA Commercial Real Estate and Great Point Investors LLC developed the building in 2014. HSA Commercial expects to break ground on a new 150,000-square-foot distribution center within the Gateway Business Park this summer. Located on a nine-acre site at the intersection of Columbia and Midfield roads, the proposed facility will feature 32-foot clear heights, 32 truck docks, four drive-in doors and parking for 156 vehicles. Terry Busch and John Hanley of CBRE represented the ownership in the lease transaction.

January 25, 2016

Indiana Midwest Multifamily Seniors Housing

Mainstreet, Trilogy Open 70-Bed, $12M Skilled Nursing Facility in Indiana

by Christina Cannon January 20, 2016

RICHMOND, IND. — Mainstreet, an Indiana-based developer of skilled nursing and rehabilitation facilities, has opened The Springs of Richmond, a 70-bed property in Richmond, which is located midway between Indianapolis and Columbus, Ohio. The community includes 70 beds in a 48,034-square-foot building. Development costs totaled $12 million. Construction began in March 2015. The Springs of Richmond was developed in partnership with Trilogy Health Services, which now operates the community.

January 20, 2016

Indiana Loans Midwest Retail

Thorofare Capital Provides $32.5M Acquisition Loan for Retail Property in Indianapolis

by Christina Cannon January 13, 2016

INDIANAPOLIS — Thorofare Capital has provided an affiliate of Arciterra Group LLC with a $32.5 million acquisition loan for a retail property in Indianapolis. Castleton Square & Commons is a 256,582-square-foot power center located on Castleton Corner Drive. Tenants at the property include REI, Golfsmith, Dave & Busters, Haverty’s Furniture, Buffalo Wild Wings and DXL Casual Male. The property was 94 percent leased at the time of sale. The seller was an affiliate of Ann Arbor, Mich.-based McKinley Inc. The non-recourse, floating-rate loan is for a period of two years and includes two six-month extension options, a flexible prepayment structure and was priced at a competitive spread over LIBOR.

January 13, 2016

Indiana Midwest Multifamily

Resource Commercial Real Estate Arranges Sale of 142-Unit Apartment Property in Greenfield, Indiana

by Christina Cannon January 13, 2016

GREENFIELD, IND. — Resource Commercial Real Estate has arranged the sale of a 142-unit apartment property in Greenfield, approximately 25 miles east of Indianapolis, for an undisclosed price. Broadway Village Apartments was built in three phases with the last phase commencing in 2001. The community is comprised of one-, two- and three-bedroom units. Unit amenities include attached garages, vaulted ceilings, full-size washers and dryers and full-size appliances. The buyer was Broadway Village Apartment Partners LLC, and the seller was Fource LLC. Michael Wernke of Resource Commercial Real Estate brokered the transaction.

January 13, 2016

Indiana Midwest Retail

Cooper Commercial Arranges $8.5M Sale of Retail Property in Indianapolis

by Christina Cannon January 12, 2016

INDIANAPOLIS — The Cooper Commercial Investment Group has arranged the sale of Indian Creek Shopping Commons in Indianapolis for $8.5 million. The 59,789-square-foot center was built in 2003 and is shadow anchored by Walmart Supercenter. Tenants at the property include Dollar Tree, Buffalo Wild Wings, Sally Beauty, Pet Supplies Plus, FedEx, World Finance Company, GameStop and Rally’s Hamburgers. Dan Cooper of The Cooper Commercial Investment Group brokered the transaction. The seller was a private investment group, and the East Coast buyer was undisclosed.

January 12, 2016

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