Indiana

Hanley Investment Group Brokers $3.1M Sale of Retail Center in Zionsville, Indiana

by Kristin Harlow May 17, 2022

ZIONSVILLE, IND. — Hanley Investment Group Real Estate Advisors has brokered the $3.1 million sale of a two-tenant retail center spanning 11,400 square feet in Zionsville, a northern suburb of Indianapolis. Named Zionsville Station, the property is located at 10615 Zionsville Road. Tenants include Hotel Tango Whiskey, a local whiskey brand, and Pampered Pooch Resort and Spa. Dylan Mallory of Hanley represented the seller, Indiana-based Jackson Investment Group. Forest Bender of Marcus & Millichap represented the buyer, a metro Indianapolis-based private investor.

May 17, 2022

Development Healthcare Indiana Midwest

Skender Begins Structural Construction of 250,000 SF Medical Office Building for Indiana University Health

by Kristin Harlow May 12, 2022

INDIANAPOLIS — Skender, working with Meyer Najem Construction, has begun structural construction of the new Indiana University Health (IU Health) Capitol View medical office building and parking garage in downtown Indianapolis. The project consists of a 250,000-square-foot medical office building and a 310,000-square-foot parking structure with 939 parking spaces. A pedestrian bridge connects the building to the parking structure. The project has been under construction since November and is now entering the structural phase of construction. Structural construction refers to components of the building that are essential to its stability such as foundations, floors, walls or beams. Completion is slated for summer 2023. The project team includes architect atelierRISTING, civil engineer Circle Design and structural engineer Lynch, Harrison & Brumleve. The team is pursuing LEED Silver certification for the property.

May 12, 2022

Acquisitions Healthcare Indiana Midwest

Marcus & Millichap Brokers $4.1M Sale of Medical Office Building in New Albany, Indiana

by Kristin Harlow May 12, 2022

NEW ALBANY, IND. — Marcus & Millichap has brokered the $4.1 million sale of the Green Valley Commons medical office building in New Albany, just north of Louisville. All IN Pediatrics has occupied the 13,456-square-foot property ever since it was constructed as a build-to-suit for the company in 2005. All IN is the largest longstanding pediatric practice in the state of Indiana, according to Marcus & Millichap. Gus Poulos, Joseph DiSalvo and Alexander Nulf of Marcus & Millichap represented the seller, an individual trust. The team also secured and represented the buyer, a limited liability company.

May 12, 2022

Indiana Loans Midwest Multifamily

Ready Capital Closes $44M Acquisition Loan for Apartment Complex in Crown Point, Indiana

by Kristin Harlow May 11, 2022

CROWN POINT, IND. — Ready Capital has closed a $44 million loan for the acquisition, renovation and stabilization of a 432-unit apartment complex in Crown Point, a city in Northwest Indiana. The undisclosed borrower plans to implement a capital improvement plan to renovate unit interiors and address deferred maintenance. The nonrecourse loan features interest-only payments, a floating rate and a two-year term.

May 11, 2022

Company News Indiana Industrial Midwest

Prologis Offers to Acquire Duke Realty in $23.7B Deal, Duke Realty Rejects Offer

by Kristin Harlow May 10, 2022

INDIANAPOLIS — In a letter sent May 10 to Indianapolis-based Duke Realty Corp. (NYSE: DRE), San Francisco-based Prologis Inc. (NYSE: PLD) offered to acquire the firm in an all-stock transaction valued at $61.68 per share, which equates to about $23.7 billion. Under the terms of the proposal, Duke Realty stockholders would receive 0.466 shares of Prologis common stock for each share of Duke Realty common stock they own. The $61.68 figure is based on Prologis’ closing price on May 9, and represents a premium of 29 percent to Duke Realty’s closing price on the same date. Hamid Moghadam, CEO and co-founder of Prologis, said he is confident that the proposed combination will be a win-win for both company’s shareholders. Prologis first sent a letter to Duke Realty on Nov. 29 regarding a potential transaction at an exchange ratio of 0.465, representing a 20 percent premium to Duke Realty’s stock price at the time. On May 3, Prologis increased the proposed exchange ratio, but Duke Realty rejected the proposal that same evening. As of March 31, logistics real estate firm Prologis owned or had investments in properties and development projects totaling roughly 1 billion square feet in 19 countries. The company’s …

May 10, 2022

Acquisitions Indiana Midwest Retail

Cooper Group Negotiates $7.3M Sale of Retail Property in Zionsville, Indiana

by Kristin Harlow May 3, 2022

ZIONSVILLE, IND. — The Cooper Commercial Investment Group has negotiated the $7.3 million sale of The Avenue at Bennett Farms, a two-building retail property in the Indianapolis suburb of Zionsville. The 12,969-square-foot development is home to Tropical Smoothie Café, Restore Hyper Wellness, Capriotti’s Sandwich Shop, Hand & Stone Massage, Garbanzo Mediterranean Fresh, Classic Cleaners and a freestanding Java House. Dan Cooper of Cooper Group represented the seller, a Midwest-based developer. He also procured the buyer, a Midwest-based private investment group. The asset sold at roughly 99 percent of the list price and a 5.9 percent cap rate.

May 3, 2022

Development Indiana Midwest Multifamily

Flaherty & Collins to Break Ground on $41M Luxury Apartment Project in Indiana

by Kristin Harlow April 20, 2022

COLUMBUS, IND. — Flaherty & Collins Properties is scheduled to break ground this Thursday on The Taylor, a $41 million luxury apartment project in Columbus, about 45 miles south of Indianapolis. The Taylor will include 200 apartment units, space for a 10,000-square-foot grocery store and 400 parking spaces. Amenities will include a community lounge, tech lounge, fitness center, bike station, dog spa, bark park, pool and pickleball court. Flaherty & Collins Construction will serve as general contractor and American Structurepoint will serve as the architect and civil engineer. Lynch, Harrison & Brumleve is the structural engineer. Busey Bank is providing project financing. The first residents are slated to take occupancy in summer 2023, with full completion estimated for fall 2023.

April 20, 2022

Acquisitions Indiana Industrial Midwest

Granite REIT Acquires 1.3 MSF, Two-Building Industrial Portfolio in Indianapolis

by Kristin Harlow April 20, 2022

INDIANAPOLIS — Canadian-based investor Granite REIT has acquired Buildings 1 and 4 within Hendricks Gateway Park in Indianapolis for an undisclosed price. The two buildings total 1.3 million square feet and are fully leased to MARS Petcare and LifeScience Logistics. Andrew Morris and Jeremy Woods of CBRE represented the seller, Atlanta-based Core 5 Industrial Partners. Hendricks Gateway Park is home to four buildings totaling nearly 3 million square feet.

April 20, 2022

Indiana Industrial Leasing Activity Midwest

Treated Lumber Outlet Signs 13,000 SF Industrial Lease in Carmel, Indiana

by Kristin Harlow April 14, 2022

CARMEL, IND. — Treated Lumber Outlet LLC has signed a lease for a 13,000-square-foot industrial building in the Indianapolis suburb of Carmel. The property, located at 4511 W. 99th St., features 11,700 square feet of warehouse space and 1,300 square feet of office space. Building features include two dock doors, one drive-in door, column spacing and a clear height of 24 feet. Conrad Jacobs of Avison Young represented the landlord, Jadam Property Group. The tenant expects to take occupancy in June.

April 14, 2022

Acquisitions Indiana Industrial Midwest

Colliers Arranges Sale of 320,219 SF Flex Industrial Building in Indianapolis

by Kristin Harlow April 13, 2022

INDIANAPOLIS — Colliers has arranged the sale of Franklin Road Business Center in Indianapolis for an undisclosed price. The two-story industrial flex building spans 320,219 square feet at 2855 N. Franklin Road. Originally built in 1961, the property features 16 docks, three drive-in doors, a 239-seat auditorium and office space. Franklin Road Business Center is 75 percent leased to five tenants, including Nakoma Products, Barrette and Siro Technology. Alex Davenport and Alex Cantu of Colliers represented the seller, Franklin Road Realty LLC. Denver-based Legacy Capital Partners Inc. purchased the asset.

April 13, 2022

Newer Posts

Older Posts