PLAINFIELD, IND. — CORFAC International has arranged the $4 million sale of a 35-acre property in Plainfield, a suburb of Indianapolis. Knight Transportation purchased the property located at 3875 Plainfield Road. The fully paved surface was previously used as a remote airport parking lot. Knight plans to use the property as an industrial truck maintenance and dispatch facility and create a new truck driving school on the site. Steven Tick of Podolsky|Circle CORFAC International in Chicago represented Knight Transportation in the sale.
CHICAGO — KeyBank Real Estate Capital has arranged a $334.4 million Fannie Mae credit facility for Enlivant, a Chicago-based owner and operator of senior care facilities across the United States. The loan was arranged for 54 assisted living properties in 12 states including Iowa, Indiana, Kentucky, Michigan, Nebraska, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Washington and Wisconsin. The new loan structure provides Enlivant with access to growth capital at attractive rates during the 10-year term. Key’s Healthcare Mortgage Banking Team was led by Carolyn Nazdin and Charlie Shoop and worked in conjunction with Fannie Mae to originate and close the loan in less than 60 days.
LAFAYETTE, IND. – Mainstreet and Trilogy Health Services will open The Springs at Lafayette, a 66,786-square-foot transitional care (short-stay rehabilitation and therapy) and assisted living facility in Lafayette. The property is located at 2402 S. St. Construction started on The Springs at Lafayette in April 2014 and the property is tentatively scheduled to open by the first week of February. The Springs at Lafayette will include 100 beds and will provide hospitality-oriented care with amenities such as a therapy gym, an outdoor rehabilitation courtyard, a movie theatre, a game room, a spa, an on-site chef and more. The project, which represents a total investment of $14 million in the community, created more than 350 construction jobs and 120 part-time and full-time jobs. Mainstreet is the developer and owner of The Springs at Lafayette and Trilogy will operate the facility.
PORTAGE, IND. — STREAM Capital Partners has arranged the $6.9 million sale of a 135,000-square-foot retail building in Portage. The property is located at 6425 Daniel Burnham Drive and is under a long-term lease to Bass Pro Shops. A private owner/developer sold the property to the buyer, a public REIT. Jonathan Wolfe and Jordan Shtulman of STREAM Capital Partners represented the seller. STREAM Capital Partners is a boutique net lease and sale-leaseback advisory group.
PORTAGE, IND. — Quantum Real Estate Advisors Inc. has brokered the $3.2 million sale of a 15,930-square-foot shopping center in Portage. Grand Pointe Plaza is located at 6532-6546 U.S. Highway 6. Some tenants at the property include Dunkin’ Donuts, Firehouse Subs and Boost Mobile. The shopping center was fully occupied at the time of sale. A Chicago-based private real estate investor purchased the property from a local development group. Chad Firsel and Conor Bossy of Quantum Real Estate Advisors Inc. represented the seller in this transaction.
LAFAYETTE, IND. — Marcus & Millichap has brokered the $5.8 million sale of a Home Depot ground lease in Lafayette. The 133,868-square-foot, net-leased property is located at 311 Sagamore Parkway N. Home Depot has approximately 12 years of term left on its lease, which is corporately guaranteed. Craig Fuller, Scott Wiles and Erin Patton of Marcus & Millichap’s Cleveland and Columbus office represented the seller, a developer, and the buyer, a limited liability company. Josh Caruana, an Indiana broker of record, assisted in closing the transaction.
INDIANAPOLIS — The city of Indianapolis has selected Meridiam to build a new justice complex. Under terms of the agreement, a Meridiam-led project company will finance, design, build, operate and maintain the new justice complex. The project calls for the consolidation of county jails, criminal courts, offices for the Marion County Sheriff’s Office, and other related offices and agencies from disparate locations around Indianapolis. The facility will also include a 3,000-bed detention facility with on-site medical and mental health units, a 960-bed community corrections facility and surface parking. It will be situated on a site located southwest of downtown Indianapolis that was formerly occupied by a General Motors stamping plant. New York-based Meridiam is an independent investment firm specializing in the development, financing, and management of long-term public infrastructure projects.
The nickname for Indianapolis, “Naptown,” is quickly fading in the rearview mirror as the city receives an increasing amount of recognition as one of the best places to live and work in America. Thanks to a unique combination of Hoosier hospitality, pro-business environment and amenities such as the Cultural Trail, Indianapolis has been named “One of the best new boom towns in the U.S.” by Forbes magazine and the “No. 3 Downtown in the U.S.” by Livability.com. With $1 billion in new projects on the horizon, it’s no surprise that downtown Indianapolis is making headlines. Indygo’s $37 million Downtown Transit Center, in close proximity to the Cultural Trail and Bike Hub, will serve pedestrians, cyclists and bus riders. A $26 million investment in a new Science and Engineering Lab at Indiana University-Purdue University Indianapolis will continue to encourage life sciences and technology careers. Plans also are in the works to revamp downtown’s iconic Monument Circle with space for events, an ice skating rink, sidewalk cafes and more. On the residential front, investments in excess of $400 million over the past five years have resulted in new housing for 4,000 additional residents. Downtown Residential Boom According to public/private partnership Downtown Indy, …
HAMMOND, IND. — Holladay Properties will develop a 60,000-square-foot commercial office building in Hammond. The site for the new property is located at the southeast quadrant of I-94 and Kennedy Avenue within the Ox Bow Landing development. The project includes the construction of a four-story, Class A office building. The property is located three miles from the Illinois border.
LAWRENCEBURG, IND. — Hilton Worldwide and DoubleTree by Hilton have opened DoubleTree by Hilton Lawrenceburg, a new $50 million hotel development at the city’s multi-purpose Lawrenceburg Event Center. Situated on the Ohio River in downtown Lawrenceburg, the nine-story, 168-room property is located at 51 Walnut St. The hotel includes a two-story lobby, which connects to an outdoor patio providing views of the city. Guestrooms overlooking the Ohio River feature a variety of amenities, including complimentary WiFi and 42-inch LCD TVs. The hotel also includes a 24-hour fitness center, business center and Wi-Fi access throughout public spaces and guest rooms. Indiana Gaming Co. LLC owns and will manage the hotel.