TIKIJIAN ASSOCIATES NEGOTIATES $3.2 MILLION APARTMENT SALE

INDIANAPOLIS — Indianapolis-based Tikijian Associates has negotiated the $3.2 million sale of The Argyle on Mass Ave, a 36-unit multifamily building located on Massachusetts Avenue within the Arts & Theater District of Indianapolis. The three-story property features ground-floor and basement retail space, as well as 33 one-bedroom and three two-bedroom apartments on the second and third floors. Retail tenants include Aesop’s Tables Mediterranean Restaurant, Buon Gusto Unique Events and Michael’s on Mass. Tikijian Associates represented the seller, Tony Wishart. The buyer, Shelbyville, Ind.-based Evergreen Investment Corp., plans to complete between $200,000 and $300,000 worth of capital improvements to the property. Approximately 6,000 square feet of ground-floor retail space is currently vacant.