NEBRASKA, IOWA AND INDIANA — An affiliate of Phoenix Investors has acquired a four-property industrial property located in Nebraska, Iowa and Indiana for an undisclosed price. The facilities were formerly home to Eaton Corp., an intelligent power management company. A property at 300 E. 39th St. in Hastings, Neb., totals 107,940 square feet with two cranes, a clear height of 28 feet, parking for up to 150 vehicles and outdoor storage. Renovated in 2019, a property at 700 Luick’s Lane in Belmond, Iowa, spans 270,500 square feet with a clear height of 40 feet. The other two facilities are located in Auburn, Ind. One totals 345,000 square feet while the other spans 15,000 square feet. Adam Wolinetz of CBRE brokered the sale. Eaton was the seller.
JEFFERSONVILLE, IND. — Broe Real Estate Group has acquired land in southern Indiana’s Jeffersonville with plans to build a 300,000-square-foot speculative industrial building. The Class A facility will be situated within the 6,000-acre River Ridge Commerce Center. Plans call for a clear height of 36 feet, rear load access and ample trailer parking to support the needs of logistics, manufacturing, research and technology tenants. Broe’s transportation affiliate, OmniTRAX, is expanding the industrial park’s rail infrastructure. Construction is scheduled to begin in summer 2023. Robert Walker and Greg Charmoli of Commercial Kentucky will market the project for lease. The project team includes architect Ware Malcomb and engineer American Structurepoint.
CARMEL, IND. — Old National Bank has expanded its office lease at Parkwood Crossing in the Indianapolis suburb of Carmel from 25,531 square feet to 45,077 square feet. The financial services firm is also consolidating its regional office space by moving an existing downtown Indianapolis office to the newly expanded space at Parkwood Crossing. Rubenstein Partners LP owns Parkwood Crossing, which spans eight buildings and 1.2 million square feet. Rubenstein acquired the property in 2016 and implemented a comprehensive renovation of the campus, including the addition of a 14,000-square-foot amenity center equipped with dining facilities, a fitness center, cybercafe, conference rooms and collaborative spaces. Traci Kapsalis, John Robinson and Brittany Shuler of JLL represented Rubenstein in the lease. Jeff Harris of Cressy Commercial Real Estate represented the tenant.
TERRE HAUTE, IND. — Tampa, Florida-based real estate investment firm Gray Capital has acquired Sycamore Terrace Apartments in Terre Haute as part of its $100 million multifamily investment fund, The Gray Fund. The sale was brokered by Cushman & Wakefield. The sales price was not disclosed. Sycamore Terrace Apartments is a 250-unit luxury multifamily apartment community. The community offers one-, two- and three-bedroom floor plans and amenities such as a swimming pool, fitness center, clubhouse and a media center. Gray Capital plans to repaint the exteriors of the property, as well as install a controlled access and gate system. Sycamore Terrace Apartments will be managed by Gray Capital’s property management company, Gray Residential. George Tikijian, Hannah Ott and Cameron Benz of Cushman & Wakefield’s Indianapolis office represented the seller in the transaction. Gray Capital represented itself in the deal.
INDIANAPOLIS — BAM Capital has acquired Gateway Crossing, a 160-unit multifamily community located in Indianapolis. Built in 2004, the property features garden-style apartments. The seller and purchase price were undisclosed. The property offers a diverse array of floorplans and is consistent with BAM’s focus on acquisitions that provide stable cash flow, appreciation potential and capital preservation, according to the company. The property is the latest addition to the BAM Multifamily Growth & Income Fund III. Other recent Indianapolis multifamily acquisitions include Hamilton Station and The Bristol. The fund, which is currently accepting capital from accredited investors, acquires Class B+ to A- assets built after 2000.
CARMEL, IND. — Euson Lindsay Health LLC has acquired The Green House Cottages of Carmel, a 72-bed skilled nursing facility in Carmel, a suburb of Indianapolis. The Green House Cottages of Carmel opened in 2016 and offers short-term rehabilitation, memory care and long-term care. The beds are spread across six buildings. The buyer will rebrand the facility under its Restoracy brand. The seller and sales price were not disclosed.
CHESTERTON, IND. — Marcus & Millichap has arranged the $1.8 million sale of a 3,412-square-foot retail center in Chesterton, a city in Northwest Indiana. Jimmy John’s and Little Caesars anchor the property. Mitchell Kiven and Nicholas Kanich of Marcus & Millichap represented the Indiana-based seller, which was the original developer of the property. The asset sold to an Iowa-based buyer completing a 1031 exchange.
FORT WAYNE, IND. — Quantum Real Estate Advisors Inc. has arranged the sale of a single-tenant retail building occupied by Sherwin-Williams in Fort Wayne for an undisclosed price. Constructed in 2022, the building spans 3,500 square feet. Chad Firsel and Seth Gilford of Quantum represented the seller, Chicago-based Core Acquisitions LLC. The asset sold to an out-of-state buyer.
HAMMOND, IND. — Marcus & Millichap has arranged the sale of the Alpha Storage facility in Hammond for an undisclosed price. The multi-story self-storage property, located at 252 Wildwood Road, spans 68,277 rentable square feet and features 595 units along with parking for recreational vehicles and boats. Jeffrey Herrmann and Sean Delaney of Marcus & Millichap represented the seller, a local limited liability company. The duo also secured and represented the buyer, a Chicago-based limited liability company.
ELKHART, IND. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of an 801,218-square-foot industrial facility in Elkhart for an undisclosed price. Completed in October, the build-to-suit is home to a recreational vehicle tenant. The property, which includes a showroom and office as well as warehouse and distribution space, features a clear height of 30 feet, 56 dock-high doors, a 194-foot truck court and seven drive-in overhead doors. Peter Bauman and Tivon Moffitt of IPA represented the seller and procured the buyer, neither of which were disclosed.