Thursday, November 6, 2025
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IndianaIndustrialLeasing ActivityMidwest

FW Logistics Signs 128,000 SF Industrial Lease in Indianapolis

by Kristin Harlow

INDIANAPOLIS — FW Logistics has signed a 128,000-square-foot industrial lease at 221 S. Franklin Road in Indianapolis. The third-party logistics firm provides flex space and trucking to help businesses with e-commerce, fulfillment and manufacturing. The company maintains 18 temperature-controlled warehouses with more than 8 million square feet nationwide, along with its trucking fleet. Conrad Jacobs of Avison Young represented the tenant. Colliers represented the landlord, CP Franklin MT LLC, a Delaware-based limited liability company. FW Logistics expects to take occupancy Tuesday, Nov. 1.

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AcquisitionsHealthcareIndianaMidwest

Blueprint Negotiates Sale of 44,000 SF Medical Office Building in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors LLC has negotiated the sale of a 44,000-square-foot medical office building located in a medical corridor of western Indianapolis. The sales price was undisclosed. The property is home to Fresenius Kidney Care and Help at Home. Blueprint represented the seller, Valley Equity Group, and procured the buyer, a partnership between Urban Growth Capital, BrightPoint Real Estate Capital and North Cos. CARMEN Commercial Real Estate Services will handle leasing.

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AcquisitionsIndianaIndustrialMidwest

MDH Partners Acquires 162,228 SF Industrial Building in Noblesville, Indiana

by Kristin Harlow

NOBLESVILLE, IND. — MDH Partners has acquired Washington Business Park 1, a 162,228-square-foot industrial building in the Indianapolis suburb of Noblesville. The purchase price was undisclosed. The property, which is 85 percent leased to four tenants, is situated within the 142-acre Washington Business Park. The building was constructed earlier this year. Houston Hawley served as the acquisition lead for Atlanta-based MDH. Bryan Poynter of Cushman & Wakefield represented MDH, while Ryan Baker of Cushman & Wakefield represented the undisclosed seller. The purchase of Washington Business Park 1 increases MDH’s Indiana footprint to more than 1.1 million square feet.

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AcquisitionsAffordable HousingIndianaMidwestMultifamily

Revitate Cherry Tree Acquires Two Workforce Housing Communities in Indiana for $44.5M

by Kristin Harlow

ELKHART AND JEFFERSONVILLE, IND. — Revitate Cherry Tree (RevCT) has acquired two workforce housing communities in Indiana for $44.5 million. Built in 1970, Walnut Trails is a 210-unit, garden-style community in Elkhart. Constructed in 1972, Beech Grove is a 182-unit community in Jeffersonville. RevCT says the acquisition of these two properties advances the firm’s overall strategy of preserving and enhancing workforce housing opportunities for families across the Midwest. Both of these properties cater to working-class residents such as those employed by local governments or in industries like healthcare, manufacturing, logistics and education. Workforce housing is defined as housing affordable to households earning between 60 and 120 percent of area median income.

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AcquisitionsIndianaMidwestRetail

First National Realty Partners Acquires Southern Plaza Shopping Center in Indianapolis

by Kristin Harlow

INDIANAPOLIS — First National Realty Partners (FNRP) has acquired Southern Plaza in Indianapolis for an undisclosed price. A 59,500-square-foot Kroger store anchors the 268,000-square-foot shopping center. A tenant at the center since 1990, Kroger recently updated its storefront and renovated the interior. Additional tenants at the property include Ross Dress for Less, Harbor Freight, Oak Street Health, Goodwill, Rue 21, Qdoba, Cosmo Prof, BMO Bank and Sally Beauty. John May of Prodigy Real Estate Group represented the undisclosed seller.

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AcquisitionsIndianaMidwestMultifamilySeniors Housing

Blueprint Negotiates Sale of 148-Unit Senior Living Community in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has arranged the sale of Discovery Commons at College Park, a 148-unit independent living community in Indianapolis. A publicly traded REIT sold the asset to Elevation Financial Group, which plans to convert the community to active adult living. The sales price was not disclosed.

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IndianaMarket ReportsMidwestMidwest Market ReportsOffice

Three Indicators of a Rebounding Office Market in Indianapolis

by Kristin Harlow

By Traci Kapsalis, JLL It’s no secret that the COVID-19 pandemic turned every office market across the globe upside down. In the process, quality of life, health and well-being have become top priorities for office workers, as well as a push for hybrid and flexible working models.  To understand and support these evolving expectations, local governments, employers and landlords are working together to identify and shape their new future of work. In fact, new research from JLL reports that the next three years will be a critical phase for commercial real estate strategy, representing a crucial window of opportunity that will determine how successful companies (and cities) will be in adapting to rapid changes. At the crossroads of America, the Indianapolis market is well on its way to a reimagined office environment. Here are three demonstrable signs. 1. Flight to quality dominates the office market Leasing activity for Class A office properties is strong in Indianapolis. According to a recent report, activity in this sector is reaching new heights as it achieved 248,000 square feet of occupancy growth in the second quarter — the highest in a single quarter in over four years — and hit record-high rents of almost …

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DevelopmentIndianaMidwestMultifamilyStudent Housing

Brinkmann, Subtext Break Ground on Seven-Story Student Housing Property at Purdue University

by Kristin Harlow

WEST LAFAYETTE, IND. — Brinkmann Constructors and Subtext have broken ground on VERVE, a seven-story student housing property located two blocks from the Purdue University campus in West Lafayette. Completion is slated for fall 2024. Located at 102 W. Wood St., the community will feature 751 beds across 235 units along with 265 parking spaces and 5,516 square feet of retail space. The units are fully furnished. Designed by WDG, the property features amenities such as a coffee bar, private study pods, group study rooms, a market, fitness center, lounge and two courtyards. The pool courtyard is equipped with an outdoor pool, hot tub, outdoor kitchen, multi-purpose turf lawn, grill stations and firepits. The Zen courtyard features a dog park and hammocks. This fall, total enrollment at Purdue reached a record high of 50,884 students.

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Affordable HousingIndianaMidwestMultifamily

Merchants Capital Closes $180M Fund to Help Support 2,400 Affordable Housing Units in 12 States

by Kristin Harlow

CARMEL, IND. — Indiana-based Merchants Capital has closed Merchants Capital Tax Credit Equity Fund X LP. The fund represents the company’s second and largest national multi-investor fund with a total capital raise of $180 million from 15 institutional investors. The fund will infuse equity into 18 affordable housing properties that will create or preserve more than 2,400 affordable housing units in 12 states. The properties are in California, Texas, North Carolina, Connecticut, Missouri, Indiana, Ohio, Michigan, Illinois, Pennsylvania, Mississippi and Oregon.

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Justin Gronlie, Harrison Street
DevelopmentIllinoisIndianaMidwestMultifamilyStudent HousingTop Stories

Harrison Street, Trinitas to Develop Four Student Housing Projects Totaling $450M

by Taylor Williams

CHICAGO AND LAFAYETTE, IND. — A joint venture between Chicago-based investment firm Harrison Street and Lafayette-based Trinitas has announced plans to develop four student housing projects in markets across the country that are aggregately valued at $450 million. The four projects will total 3,390 beds and will all be located within walking distance of campus for students at Indiana University, University of Central Florida, University of Wisconsin and University of Georgia. Construction timelines were not disclosed. Trinitas will assume property management responsibilities upon completion of each project. Current at Latimer Square will be a 906-bed, off-campus project in Bloomington, Indiana, that will serve students at Indiana University. The five-building development will feature units with bed-to-bath parity and a variety of floor plans, from studio to five-bedroom layouts. Amenities will include a pool, entertainment lounge, fire pits, tanning beds, green spaces, a fitness center and 442 parking spaces. Current Orlando, which will house students attending the University of Central Florida, will total 750 beds in studio, one-, two-, three- and four-bedroom units. Residences will be spread across three buildings, and the amenity package will comprise a pool, spa, basketball court, fitness center, study lounges and 690 parking spots. Atmosphere Madison will …

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