CLARKSVILLE, IND. — DTZ has brokered the sale of a retail land lease in Clarksville, approximately five miles north of Louisville, Ky. Columbus Pacific Properties sold the property, which is located at the intersection of Green Tree Boulevard and State Road 131, for $6.5 million. The property is occupied by a 12-screen, 38,000-square-foot Great Escape Movie Theater, which was recently acquired by Regal Cinemas. Rob Taylor of DTZ represented the seller in the transaction. The name of the buyer was not disclosed.
CROWN POINT, IND. — Symphony of Crown Point, a 66,598-square-foot, 100-bed senior living facility providing post-acute, short-stay rehabilitation care has opened in Crown Point, located about six miles south of Merrillville. Mainstreet and Symphony Post Acute Network developed the facility. Construction on the project began in May 2014. The complex offers a therapy gym, outdoor rehabilitation courtyard, spa, movie theater and an on-site chef. The project, which had a total investment of $16 million, has created 360 construction jobs and 100 permanent jobs at the property.
PORTAGE, IND. — Quantum Real Estate Advisors Inc. has arranged the sale of a dual-tenant retail building located at US Highway 6 and Willowcreek Road in Portage for $3 million. The property is shadow anchored by Meijer and is leased to Chipotle and Sleepy’s. The property was sold by a real estate developer based in Lake Forest, Illinois to a private real estate office based in Wisconsin. Chad Firsel, president of Quantum, was a broker in the transaction.
INDIANAPOLIS — New York Life Real Estate Investors has provided $15.3 million in refinancing for Canal Overlook Apartments, a 132-unit, Class A residential property located in Indianapolis. The loan has a term of 20 years. The complex is owned by a private investor and was completed in 1988.
LAFAYETTE, IND. — Chicago-based Baum Realty Group has arranged the sale of a single-tenant, net-leased Goodrich Quality Theaters property. Located at 3525 McCarty Lane in Lafayette, the property sold for $2.4 million. The 18,000-square-foot property has three years remaining on the original 20-year lease with two five-year extension options. Goodrich Quality Theaters is a Michigan-based operator with 30 theater locations across four states. Brad Teitelbaum and Patrick Forkin of Baum represented the undisclosed seller in the transaction. The buyer was a Michigan-based private investor.
INDIANAPOLIS — The Opus Group is developing a speculative industrial property at 3901 Hanna Circle at the Airport Business Center in Indianapolis. The industrial office and warehouse facility will feature 433,000 square feet of space. Situated on 26.2 acres, the property will feature 32-foot clear heights, 40 loading docks with four drive-in doors, ESFR sprinkler systems, T-5 fluorescent lighting and parking for 288 cars and 63 trailers. Construction began in May, with completion slated for February 2016. The building will be owned by a joint venture partnership between Opus Development Co. and Founders Properties. Opus Development Co. is the project’s developer, Opus Design Build is serving as design-builder and Opus AE Group is the architect and engineer of record. DTZ has been retained to market the property for lease.
CRAWFORDSVILLE, IND. — Flaherty & Collins Properties will break ground on Historic Whitlock Place, an apartment project located at 306 Binford St. in downtown Crawfordsville, a city northwest of Indianapolis, on Monday, June 8. An adaptive reuse of Culver Union Hospital, the project will offer 56 studio, one- and two-bedroom apartment units. Community amenities will include a community atrium, a community room with a television, a computer room with free Internet access and an exercise room with equipment. Completion is slated for late summer 2016. The project is a collaborative effort between Sustainable Solutions, Vision Communities, Flaherty & Collins, the City of Crawfordsville, Palma Architects and McKinley Development.
FORT WAYNE, IND. — General Motors will invest $1.2 billion in its full-size pickup truck plant in Fort Wayne. The investment will include upgrades and technology that will improve the plant’s competitiveness in assembling high-quality light- and heavy-duty models. Construction of the new pre-treat, electro-coat operation and sealing facility, expanded body shop, expanded and new material sequencing centers, and upgraded general assembly area is expected to begin in June and take several years to complete. The production schedules for full-size trucks will not be affected by the upgrades and renovations. The investments are part of the $5.4 billion that GM is planning to invest in U.S. facilities over the next three years.
CHESTERTON, IND. — Mainstreet and Symphony Post Acute Network have broken ground on Symphony of Chesterton, a post-acute care facility located at 2775 Village Point in Chesterton. The 76,701-square-foot property will feature 106 bed and provide short-stay rehabilitation and therapy services, as well as senior living options. Mainstreet is developing the project, which will be operated by Symphony Post Acute Network. The $18.8 million project is expected to bring approximately 360 construction jobs and 150 permanent jobs to the area. The construction is expected to be complete by December.
MERRILLVILLE, IND. — McShane Construction Company has been selected to build Merrillville Memory Care, a 50-bed memory care community in Merrillville, a small town in the northwest corner of Indiana. Developers Whiteco Industries and Dete Development selected McShane for the 33,760-square-foot facility, which is planned for a 9.3-acre site at 7900 Rhode Island St. McShane will complete all site work, including landscaping and an on-site paved parking lot for 37 vehicles. Architectural Design Consultants will provide the architectural services.