FORT WAYNE, IND. — Benco Dental Supply Co. Inc. has renewed its 108,800-square-foot industrial lease at 3424 Centennial Drive in Fort Wayne. Steve Zacher of The Zacher Co. represented the landlord, STAG Industrial Holdings LLC. The representative of the tenant was not provided.
WESTFIELD, IND. — MBG is underway on the construction of The James at Chatham Hills in Westfield, about 30 miles north of Indianapolis. Mia Rose Holdings is developing the 250-unit luxury apartment project. Completion is slated for May 2025. The project marks the first multifamily development for MBG’s new Indianapolis office. Located on a 21-acre site within the Chatham Hills planned residential and recreational development, The James at Chatham Hills will feature eight two- and three-story buildings with 124 one bedrooms, 114 two bedrooms and 12 three-bedroom units. Amenities will include access to a nature trail and lake recreation, a pool, pickleball courts, golf simulator, fitness facility and conference spaces. The project team includes architect Rosemann & Associates, civil engineer V3 Cos. and mechanical, electrical and plumbing engineer Engenuity.
LEBANON, IND. — Eli Lilly and Co. (NYSE: LLY) has unveiled plans to invest $4.5 billion to create the Lilly Medicine Foundry, a new center for advanced manufacturing and drug development in Lebanon, about 27 miles northwest of Indianapolis. The Medicine Foundry, slated to open in late 2027, will be located in Indiana’s LEAP Research and Innovation District. The project brings Lilly’s total investment in the area to more than $13 billion. Earlier this year, Lilly released plans for a $5.3 billion expansion of its pharmaceutical manufacturing facility in Lebanon. “As we accelerate our work to discover new medicines for the toughest diseases, we’re continuing to invest in state-of-the-art infrastructure to support our growing pipeline,” says David Ricks, Lilly’s chair and CEO. “In addition to supplying high-quality medicine for our clinical studies, this new complex will further strengthen our process development and scale up our manufacturing capabilities to speed delivery of next-generation medicines to patients around the world.” Lilly says the flexible design of the new facility will enable production of various molecular therapies, including drug substances for small molecules, biologics and nucleic acid therapies. New technologies developed at the Medicine Foundry will be transferred to Lilly’s other manufacturing sites …
MUNSTER, IND. — Marcus & Millichap has brokered the $2.3 million sale of a 16,000-square-foot industrial property in Munster. The vacant, single-tenant asset is located at 570 Progress Ave. and features two five-ton cranes, a clear height of 24 feet, three drive-in doors and one dock-high door. Built in 2014, the facility is situated one block from Calumet Avenue and three miles from I-94. Clayton Isacson, Tyler Sharp and Adam Abushagur of Marcus & Millichap represented the seller, American Machine Works Inc. The property sold to an out-of-market investor. Josh Caruana, broker of record in Indiana, assisted in closing the transaction.
BLOOMINGTON, IND. — The Annex Group has opened The Annex of Bloomington, a $23 million workforce housing community located on South Grant Street in Bloomington. The property features 102 studio, one- and two-bedroom units across two buildings. The community is within walking distance of the Indiana University campus. Retail space on the first level is home to a new Bru Burger location from Cunningham Restaurant Group and Coffee Beanery. The project team included Gilliatte General Contractors Inc., architect KTGY and engineer Smith Design Group Inc. STAR Financial Bank provided $18.1 million in funding.
GREENWOOD, IND. — CBRE has negotiated the sale of The Hangar on Emerson in Greenwood, a southern suburb of Indianapolis. The sales price was undisclosed. Built in 2023 and located at 1140 Emerson Pointe Drive, the 218-unit apartment complex features a range of one-, two- and three-bedroom floor plans averaging 1,006 square feet. Amenities include a resort-style swimming pool, courtyards, a clubhouse, fitness center, yoga room and pet park. CBRE’s Hannah Ott, George Tikijian, Cam Benz, Claire Bullard and Ryan Stockamp represented the seller, The Garrett Cos. Railfield Partners was the buyer.
ANDERSON, IND. — Meridian Design Build has completed construction of a 300,000-square-foot climate-controlled seed storage and distribution facility for Corteva Agriscience in Anderson, about 40 miles northeast of Indianapolis. Scannell Properties was the developer. Located at 4210 W. 67th St., the property is Corteva’s largest warehouse and distribution center in North America, according to Meridian. Constructed on 30 acres, the facility features 100,000 square feet of refrigerated and humidity-controlled cold storage space along with an adjacent dry storage area accessible via high-speed rollup doors. The building features 25 loading docks, two drive-in doors, a storm shelter and 4,000 square feet of office space. Curran Architecture was the architect, and American Structurepoint Inc. handled the civil engineering design.
SOUTH BEND, IND. — A partnership between fifteenfortyseven Critical Systems Realty (1547) and Harrison Street has acquired the Global Access Point Union Station data center in South Bend for an undisclosed price. The data center sits atop the transcontinental fiber system connecting Chicago to the East Coast. Situated in the historic Union Station in northern Indiana, the property is ranked among the top U.S. carrier hotels and critical network hubs, according to 1547. The facility offers access to over 20 telecommunication network service providers. The buyers plan to make facility upgrades.
SCHERERVILLE, IND. — Marcus & Millichap has brokered the $4.5 million sale of a 10,582-square-foot restaurant property occupied by Golden Corral in Schererville, a city in northwest Indiana. Built in 2006, the asset is located at 915 Eagle Ridge Drive next to a Home Depot. Sean Sharko, Austin Weisenbeck and Daniel Chumbley of Marcus & Millichap represented the seller, a Chicago-based real estate investment company, and procured the buyer, an out-of-state real estate partnership. Josh Caruana, broker of record in Indiana, assisted in closing the transaction.
EVANSVILLE, IND. — CBRE has brokered the sale of Post House, a 159-unit multifamily community in Evansville, a city on the Ohio River. The sales price was undisclosed. Built in 2020 and located at 215 Vine St., the property features a range of studio, one- and two-bedroom floor plans averaging 894 square feet and 15 loft-style, live-work units. Amenities include a pool, covered outdoor seating, yoga room, dog spa, dog park, fitness center, coworking center and parking garage. Hannah Ott, George Tikijian, Cam Benz, Claire Bullard and Ryan Stockamp of CBRE represented the seller, Scannell Properties. Prosperity Commercial Real Estate was the buyer.