CHICAGO, INDIANAPOLIS, COLUMBUS AND MILWAUKEE — Starwood Real Estate Income Trust Inc., a non-traded real estate investment trust managed by Starwood Capital Group, has acquired a 33-property industrial portfolio totaling 4.1 million square feet in the Midwest for approximately $319.6 million, excluding closing costs. The properties are located in Chicago, Indianapolis, Columbus and Milwaukee. The portfolio is 98 percent leased to 50 tenants. It is largely comprised of light industrial buildings of less than 250,000 square feet. Kurt Sarbaugh, Robin Stolberg, Michael Joseph and Dominic Espinosa of JLL represented the seller, Becknell Industrial and a joint venture partner. Becknell will retain its position in the portfolio. Ken Martin, Alex Witt, Troy Shiley and Nelson Almond of JLL arranged a 10-year, $210 million fixed-rate CMBS loan with a global investment bank on behalf of new ownership.
INDIANAPOLIS — Plymouth Industrial REIT Inc. has purchased 10 industrial buildings totaling 2.1 million square feet in Indianapolis for $62 million. Included in the portfolio is Shadeland Commerce Center, a nine-building property totaling approximately 1.7 million square feet. It is 95 percent leased to 26 tenants, including Penske, ABC Supply Co., PPG Industries and Ryder. Plymouth also acquired 7901 W. 21st St., a 353,000-square-foot building that is fully leased to Iron Mountain and Venture Logistics. The seller information was not disclosed. Plymouth is a publicly traded REIT focused on the acquisition and operation of industrial properties located largely in secondary markets across the United States. John Huguenard, Sean Devaney, Brian Seitz and Brian Buschuk of JLL represented the seller of Shadeland Commerce Center.
CLINTON, IND. — MAG Capital Partners LLC has acquired 3900 E. White Ave. in Clinton, which is located in west Indiana near the border of Illinois. The purchase price was not disclosed. The LEED Silver-certified property serves as the headquarters for White Construction Inc., a wholly owned company of Infrastructure and Energy Alternatives LLC (NASDAQ: IEA). The campus comprises a three-story, 51,000-square-foot office building that was constructed for the tenant in 2009. It also includes several industrial buildings totaling approximately 51,000 square feet. Jim Tuesley and Mary Garnett of Barnes & Thornburg LLP represented MAG Capital Partners, whose principals are Dax T.S. Mitchell and Andrew Gi, in the sale. Tim Mattingly of American Mortgage & Realty Corp. arranged acquisition financing through First Farmers Bank & Trust. Matt Deahl of Imperium Realty & Investments LLC, along with Alex Cantu and Alex Davenport of Colliers International, represented the seller.
FORT WAYNE, IND. — NorthMarq has arranged a $5.9 million loan for the acquisition of Coldwater Crossing in Fort Wayne. The 89,980-square-foot retail property, anchored by Dollar Tree, is located at 5315-5515 Coldwater Road. Susan Branscome of NorthMarq arranged the 10-year, fixed-rate loan with a regional bank.
NEWBURGH, IND. — Cohen Financial, a division of SunTrust Bank, has arranged a $10.7 million loan for the acquisition of Bell Oaks in Newburgh, a suburb of Evansville. Schnucks grocery store anchors the 95,000-square-foot shopping center. Dan Rosenberg and Matt Terpstra of Cohen arranged the 10-year, fixed-rate loan with Goldman Sachs. Midland Atlantic Properties was the borrower.
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.
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.
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.
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.
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.