JEFFERSONVILLE, IND. — Waypoint Residential LLC is developing The Walcott Jeffersonville, a 214-unit apartment project in Jeffersonville, just north of Louisville. The project will be located in the Old Jeffersonville Historic District opportunity zone. The Walcott will include a mix of studio, one- and two-bedroom units. Community amenities will include a resort-style pool, fitness center, Internet café, rooftop terrace and pet spa. Completion is slated for mid-2020.
INDIANAPOLIS — Colliers International has brokered the sale of Commerce Park, a seven-building office portfolio in Indianapolis. The sales price was not disclosed. The portfolio totals 133,749 square feet and is located off 86th Street. The buildings are home to a variety of healthcare, construction and professional services tenants. Alex Cantu and Alex Davenport of Colliers represented the seller, Orton Development Inc. Ziff Properties Inc. purchased the portfolio.
TERRE HAUTE, IND. — Dwight Capital has provided a $38.8 million HUD 223(f) loan for the refinancing of Cobblestone Crossings Apartments in Terre Haute. The 448-unit apartment property was built in multiple phases between 2006 and 2014. The Energy Star-certified property qualified for HUD’s green program and a reduced interest rate. Josh Hoffman and Kevin Lifshitz of Dwight originated the loan on behalf of the borrower, an investment company based in Terre Haute.
INDIANAPOLIS — Cornerstone Cos. Inc. has completed the construction of a 30,325-square-foot dermatology center in Indianapolis. Dawes Fretzin Dermatology Group occupies the two-story building. The company has three additional locations in Indiana. The facility includes medical equipment and offices, reception areas and a dedicated children’s waiting area. The surgery treatment center offers patients Mohs Micrographic surgery, a specialized technique for the removal of skin cancer. Cornerstone served as the developer and general contractor for the yearlong construction project.
MUNCIE, IND. — Albanese Cormier Holdings (ACH) has purchased Muncie Marketplace for an undisclosed price. Built in 2014, the 77,871-square-foot shopping center is located at 600 E. McGalliard Road in Muncie. Dick’s Sporting Goods, Michaels, Five Below, McAlister’s Deli, Men’s Wearhouse, Kay Jewelers and GameStop fully occupy the property. Amy Sands and Clinton Mitchell of HFF represented the undisclosed seller.
LAFAYETTE, IND. — Baum Realty Group LLC has arranged the sale of a 2,321-square-foot building occupied by Starbucks in Lafayette for $1.8 million. The single-tenant property is located near the Purdue University. Patrick Forkin of Baum represented the seller. A West Coast-based buyer purchased the asset in a tax-deferred 1031 exchange.
INDIANA, MINNESOTA AND NORTH DAKOTA — Four Corners Property Trust (NYSE: FCPT) has purchased six Red Lobster restaurant properties in Delaware, Indiana, Kentucky, Minnesota, Mississippi and North Dakota for $25.9 million. All six properties are under one triple-net master lease, which includes two other Red Lobster properties previously acquired by FCPT in November 2017. The master lease has approximately 21 years remaining.
SHELBYVILLE, IND. —Shelbyville Redevelopment Commission has purchased a 184-acre industrial site along I-74 in Shelbyville, about 30 miles southeast of Indianapolis, for $3.9 million. The organization plans to develop an industrial park. The site was assembled from two tracts owned by First Presbyterian Church of Shelbyville and Krone, a German farm equipment manufacturer. Shelbyville and Shelby County equally funded the acquisition through a 10-year bond sale.
INDIANAPOLIS — JVM Realty Corp. (JVM) has completed the renovation of the common areas at Circa Apartments, a 265-unit luxury apartment community that it owns in downtown Indianapolis. The new features at Circa include an expanded pet park, a new pet washing station, automated package room, upgraded fitness center and co-working lounge. The renovation also included a redesigned clubhouse and new furniture for the pool and resident lounge. Holt Construction was the contractor for the project and Laura Braucher of Studio 5 Interiors Inc. was the designer.
INDIANAPOLIS — Cushman & Wakefield has arranged the sale of The Coil Apartments in Indianapolis for an undisclosed price. The 151-unit apartment property, located at 6349 N. College Ave., includes a 33,500-square-foot retail space occupied by Fresh Thyme Farmers Market. Todd Stofflet, Jason Stevens and Susan Tjarksen of Cushman & Wakefield represented the sellers, Sheehan Cos. and Browning Investments. RDG Funds purchased the asset.
