Indiana

The Opus Group Develops Spec Industrial Property in Indianapolis

by Amy Works June 5, 2015

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.

June 5, 2015

Indiana Midwest Multifamily

Flaherty & Collins Properties to Break Ground on Apartment Project in Indiana

by Amy Works June 3, 2015

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.

June 3, 2015

Indiana Industrial Midwest

GM to Invest $1.2B in Full-Size Truck Plant in Fort Wayne

by Amy Works May 27, 2015

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.

May 27, 2015

Healthcare Indiana Midwest Multifamily Seniors Housing

Mainstreet, Symphony Post Acute Network Break Ground for Chesterton Medical Resort

by Amy Works May 21, 2015

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.

May 21, 2015

Indiana Midwest Multifamily Seniors Housing

McShane to Construct Memory Care Residence in Indiana

by Amy Works May 21, 2015

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.

May 21, 2015

Sansone-Towne-South-Plaza-Terre-Haute-IL

Indiana Midwest Retail

Sansone Group Purchases Shopping Center in Indiana for $18M

by Amy Works May 20, 2015

TERRE HAUTE, IND. — Sansone Group has acquired Towne South Plaza, a shopping center located on U.S. Highway 41 in Terre Haute. Creekstone Towne South Plaza LLC sold the 162,285-square-foot property for $18 million. Gander Mountain, Best Buy, PetSmart, Guitar Center and Five Below occupy the property. Sansone plans to eventually expand the center to 213,000 square feet.

May 20, 2015

Indiana Midwest Retail

The Boulder Group Arranges $6M Sale of Walgreens in Indiana

by Danielle Everson May 15, 2015

HOBART, IND. — The Boulder Group has completed the sale of a single-tenant, net-leased Walgreens property in Hobart, Ind. The 15,120-square-foot property is located at 732 W. Old Ridge Road. Walgreens has 16 years remaining on its lease that expires in December 2031. Walgreens has operated at this property since 2001. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The seller was a Midwest-based institution and the buyer was an international investor.

May 15, 2015

Indiana Midwest Multifamily Student Housing

ACC to Break Ground on $40M Butler University Student Residences in Indianapolis

by Danielle Everson May 13, 2015

INDIANAPOLIS — American Campus Communities Inc. will break ground on Sunset Student Residences, a 633-bed sophomore residence hall on the campus of Butler University in Indianapolis, this month. The $40 million facility will open in August 2016. The site previously had been a parking lot. Sunset Student Residences is the result of a partnership between ACC and Butler University. ACC will build and maintain the facility, while Butler will provide staff to manage the building. Sunset Student Residences will feature suites of three- and four-bedroom floor plans.

May 13, 2015

Indiana Industrial Midwest

HSA Commercial Arranges Industrial Lease Renewal for Banning Engineering in Indiana

by Danielle Everson May 13, 2015

PLAINFIELD, IND. — HSA Commercial Real Estate has arranged a long-term lease renewal for Banning Engineering within the Gateway Industrial Business Park in Plainfield. The property is located at 853 Columbia Road. Banning, a civil engineering and surveying firm, occupies 16,000 square feet in the first distribution facility to be constructed at the 13-acre business park and was the original tenant at the park in 2004. HSA Commercial owns and manages the park, which has since expanded to include a 121,000-square-foot multi-tenant second phase that was built in 2006, a 34,880-square-foot facility occupied by the Federal Aviation Administration, and a 220,000-square-foot speculative warehouse that HSA built in partnership with Great Point Investors LLC in 2014.

May 13, 2015

Indiana Industrial Midwest

Monmouth Acquires Industrial Property in Greenwood, Ind. for $37.4M

by Danielle Everson May 8, 2015

GREENWOOD, IND. — Monmouth Real Estate Investment Corp. has acquired a new 671,354-square-foot industrial building in Greenwood for $37.4 million from an undisclosed seller. The property is situated on a little more than 43 acres located at 482 Chaney Ave. and is net leased for 10.25 years to beauty retailer ULTA Inc., a subsidiary of Ulta Salon, Cosmetics & Fragrance Inc. The new Omni-channel fulfillment center will serve both business-to-business and direct-to-consumer e-commerce sales.

May 8, 2015

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