INDIANAPOLIS — Argus Self Storage Advisors has arranged the sale of a Keystone Self Storage property in Indianapolis for $9.5 million. Located at 5000 N. Keystone Ave., the self-storage facility totals 541 units and 69,700 square feet. Rob Schick of Argus represented the undisclosed seller. Public Storage was the buyer. The asset was 94 percent leased at the time of sale.
INDIANAPOLIS — Marcus & Millichap has brokered the sale of a 70-room Comfort Suites hotel in Indianapolis for $7.1 million. Built in 2009, the three-story hotel is located near I-465 and the Indianapolis International Airport. Amenities include a business center, fitness center, indoor pool and complimentary breakfast. Scott Havericak and Robert Hunter of Marcus & Millichap represented the seller, Vinsar Hotels LLC. The duo also procured the buyer, Singh Estate LLC.
WHITELAND, IND. — Mohr Capital has expanded its Mohr Logistics Park in Whiteland with an additional building totaling more than 1 million square feet. More than 540,000 square feet is leased, and the remaining 513,000 square feet is under final lease negotiations. Mohr anticipates full occupancy by this summer. Mohr has another 1.5 million square feet currently under construction, and is pursuing build-to-suits for another 1.2 million square feet. The master plan calls for nearly 7 million square feet within the industrial park. The project team includes Pepper Construction, Curran Architecture and American Structurepoint. Mark Writt of CBRE is the leasing agent.
LAFAYETTE, IND. — Ariel Property Advisors has arranged an $8.2 million refinance loan and line of credit for the renovation and expansion of a 160,000-square-foot shopping center in Lafayette. The expansion will accommodate one of the tenants, a government agency, that needed a larger space. Eli Weisblum and Paul McCormick of Ariel arranged the loan, which features a 6.5 percent fixed interest rate, a 25-year amortization schedule and a 65 percent loan-to-value ratio. The lender and borrower were not provided.
SOUTH BEND, IND. — Holladay Properties is converting an industrial site at 850 Marietta St. in South Bend into a 39,990-square-foot self-storage facility. Store Space Self Storage will manage the facility, which is slated to open in the second quarter. The property will feature four buildings with 183 climate-controlled units and 165 drive-up units. Store Space will provide day-to-day operations, call center support, marketing, branding and technology solutions. Holladay expects to partner with Store Space on additional locations.
VALPARAISO, IND. — Marcus & Millichap has brokered the $2.5 million sale of a 7,433-square-foot medical office building in Valparaiso, a city in Northwest Indiana. The newly constructed property, located at 4400 Calumet Ave., is leased to a dentist and an ophthalmology practice. Mitchell Kiven of Marcus & Millichap represented the seller, the property’s original developer. Kiven also procured the Indiana-based buyer. Dean Giannakopoulos and Frank Montalto of Marcus & Millichap Capital Corp. arranged acquisition financing on behalf of the buyer.
WABASH, IND. — Dollar General has renewed its 8,000-square-foot retail lease at 1156 Cass St. in Wabash, about 50 miles southwest of Fort Wayne. Dave Horacek, Madison Wallace and Bill Drinkall of Bradley Co. represented the landlord, A&R Indiana LLC. The representative of the tenant was not provided.
FISHERS, IND. — The Klink Group of Marcus & Millichap has brokered the sale of Pine Creek Shoppes in the Indianapolis suburb of Fishers for $3.3 million. Constructed in 2000, the retail center is located at 8958 E. 96th St. Tenants include H&R Block, Nail Bar, Bailey & Wood Mortgage and Moon Face & Body Studio. Jordan Klink of the brokerage represented the seller, Vamoz LTD, a private investor based in New York. Matthew Ferguson and Pete Alveal of Premier Commercial procured the buyer, NOC Pine Creek LLC, an Indianapolis-based limited liability company.
VINCENNES, IND. — Northmarq has arranged the $5.2 million sale of Kimmell Crossing, a 44,962-square-foot retail center in Vincennes, a city in Southwest Indiana. Located on Kimmell Road and built in 1997, the property was fully leased to 10 tenants at the time of sale. Some of the tenants include Dollar Tree, Maurices, Sally Beauty Supply, T-Mobile and CATO. Ryan Roedersheimer of Northmarq represented the seller, DPPM Management, which acquired the asset in early 2022 from Regency Properties. A local investor completing a 1031 exchange was the buyer.
INDIANAPOLIS — Montecito Medical has acquired a 34,369-square-foot medical office building in Indianapolis. The tenant is the Midwest Center for Joint Replacement, which uses the facility for orthopedic clinical care, orthopedic surgeries and physical therapy. The group maintains an additional location in Bloomington, Ind. The seller and sales price were not provided.