Indiana

U.S. OCG Acquires 497-Room Marriott Hotel Portfolio in Indianapolis

by Kristin Harlow December 5, 2019

INDIANAPOLIS — U.S. OCG has acquired a 497-room, three-property Marriott hotel portfolio in Indianapolis for an undisclosed price. The hotels, located adjacent to each other, include a 315-room Marriott, a 119-room Delta and a 63-room Fairfield Inn & Suites. Together, they include more than 90,000 square feet of meeting space. Nate Sahn, James Foxx, Pravin Boteju and Stephen LaMotte Jr. of CBRE represented the seller, a joint venture between Shadeland Enterprises LLC and Midwest Investments Associates LLC.

December 5, 2019

Acquisitions Indiana Midwest Office

Colliers Brokers Sale of 138,636 SF Office Building in Fishers, Indiana

by Kristin Harlow December 5, 2019

FISHERS, IND. — Colliers International has brokered the sale of Crosspoint Plaza One, a four-story Class A office building located at 10475 Crosspoint Blvd. in Fishers. The sales price was $8.8 million, according to the Indianapolis Business Journal. The 138,636-square-foot property is situated in the northeast Indianapolis corridor with immediate access to I-69. Alex Cantu, Alex Davenport, Matt Langfeldt and Rich Forslund of Colliers represented the seller. Arkansas-based Tempus Realty Partners purchased the building, constructed in 1999. Crosspoint Plaza One originally served as a build-to-suit for Wiley Publishing, which recently vacated the property, leaving it 20 percent occupied. The new ownership plans to upgrade the building with modernized common areas, outdoor space and a first-floor conference center.

December 5, 2019

Indiana Leasing Activity Midwest Retail

Aaron’s Inks 12,100 SF Retail Lease at Felbram Plaza in Indianapolis

by Kristin Harlow December 5, 2019

INDIANAPOLIS — Aaron’s Inc. has signed a 12,100-square-foot retail lease at a 200,000-square-foot shopping center in Indianapolis. The furniture company expects to begin operations at the property as soon as mid-March 2020. Millennial Holdings LLC acquired the center, known as Felbram Plaza, several months ago and is completing renovations such as new signage, lighting, roofs, HVAC units, landscaping and a new parking lot. Millennial plans to rename the property, which is nearly 85 percent leased. Keith Fried of McCrea Property Group is the leasing agent.

December 5, 2019

Acquisitions Indiana Midwest Retail

SRS Arranges $30M Sale of Regional Shopping Center in Jeffersonville, Indiana

by Kristin Harlow December 4, 2019

JEFFERSONVILLE, IND. — SRS Real Estate Partners National Net Lease Group has arranged the sale of Jefferson Town Center West in Jeffersonville for $30 million. The newly developed, 184,663-square-foot regional shopping center is located at 4251 Town Center Blvd. It is fully leased to tenants such as Hobby Lobby, Burlington, TJ Maxx, HomeGoods, Petco, Five Below and Ulta. Michael Carter and Frank Rogers of SRS represented the seller, a Louisville, Ky.-based developer. Carter and Rogers also represented the buyer, a private investor based in Newport Beach, Calif.

December 4, 2019

Acquisitions Healthcare Indiana Midwest

Quantum Negotiates $7.7M Sale of Medical Office Building in Lebanon, Indiana

by Kristin Harlow December 4, 2019

LEBANON, IND. — Quantum Real Estate Advisors Inc. has negotiated the sale of a single-tenant medical office building in Lebanon, about 30 miles northwest of Indianapolis, for $7.7 million. Newly constructed this year, the property is located at 1310 Lebanon St. American Health Network leases the roughly 20,000-square-foot property. Daniel Waszak of Quantum represented the seller, a Midwest-based developer. A Midwest-based medical office REIT purchased the asset.

December 4, 2019

Acquisitions Indiana Midwest Multifamily Seniors Housing

Strawberry Fields REIT Purchases 72-Bed Skilled Nursing Facility in Indiana for $3.1M

by Kristin Harlow November 19, 2019

MUNCIE, IND. — Strawberry Fields REIT LLC has purchased The Waters of Muncie, a 72-bed skilled nursing facility in Muncie, for $3.1 million. The property is located at 2400 Chateau Drive. Services at the property include comprehensive medical, memory care and rehabilitative therapy. The facility serves both short- and long-term residents. With this acquisition, Strawberry Fields owns more than 70 nursing homes across the country.

November 19, 2019

Acquisitions Indiana Midwest Retail

Baum Brokers $1.4M Sale of Two-Tenant Retail Property in Indiana

by Kristin Harlow November 12, 2019

VALPARAISO, IND. — Baum Realty Group LLC has brokered the sale of a 3,600-square-foot retail property leased to Starbucks and Rosati’s Pizza in Valparaiso for $1.4 million. The asset serves as an outparcel to a shopping center anchored by grocer Strack & Van Til. Starbucks recently extended its lease for an additional 10 years. Patrick Forkin of Baum represented the seller, a private regional investor. The buyer was not disclosed.

November 12, 2019

Indiana Loans Midwest Multifamily ORIX

Hunt Real Estate Capital Provides $24.2M Refinancing for Multifamily Portfolio in Indianapolis

by Kristin Harlow November 5, 2019

INDIANAPOLIS — Hunt Real Estate Capital has provided a $24.2 million loan for the refinancing of Circle City Apartments, a 356-unit multifamily portfolio in Indianapolis. The portfolio comprises six mid-rise buildings that range in size from 24 to 136 units and were built from 1900 to 1929. Hunt sourced the 10-year loan through Freddie Mac. The borrower, Old Northside Capital Partners LLC, purchased the portfolio in July 2015 and subsequently completed $10.9 million in capital improvements.

November 5, 2019

Acquisitions Company News Indiana Michigan Midwest Retail Top Stories

Penske Corp. to Acquire Hulman & Co., Including Indianapolis Motor Speedway

by John Nelson November 5, 2019

BLOOMFIELD HILLS, MICH. AND TERRE HAUTE, IND. — Global trucking and logistics firm Penske Corp. has agreed to purchase Hulman & Co., a private company that owns Indianapolis Motor Speedway, the world-famous racetrack that hosts the Indianapolis 500 and Brickyard 400 racing events. The acquisition price was not disclosed. Situated on more than 1,000 acres in Speedway, Ind., the Indianapolis Motor Speedway was built in 1909 and today has a permanent seating capacity exceeding 235,000 people. When infield seating is added, more than 400,000 people can view the various racing events held at the 2.5-mile oval track. According to Hulman, which has owned the venue since 1945, it’s the world’s largest spectator sporting facility. “The Indianapolis Motor Speedway has been the centerpiece and the cathedral of motorsports since 1909 and the Hulman-George family has proudly served as the steward of this great institution for more than 70 years,” says Tony George, chairman of Hulman & Co., a family-owned company based in Terre Haute. “Now, we are honored to pass the torch to Roger Penske and Penske Corp. There is no one more capable and qualified than Roger and his organization to lead the sport of IndyCar racing and the Indianapolis …

November 5, 2019

Acquisitions Indiana Midwest Retail

Mid-America Arranges Sale of Two-Tenant Retail Building in South Bend, Indiana

by Kristin Harlow November 1, 2019

SOUTH BEND, IND. — Mid-America Real Estate Corp. has arranged the sale of a 5,013-square-foot retail building in South Bend for an undisclosed price. ATI Physical Therapy and AT&T fully occupy the property, which is located along Portage Road. Carly Gallagher, Christian Tremblay and Rick Drogosz of Mid-America represented the seller, Veritas Realty. A West Coast-based investor purchased the property while completing a 1031 tax-deferred exchange.

November 1, 2019

Newer Posts

Older Posts