445K Business Park Hits Indy Market

INDIANAPOLIS—A joint venture between Middleton Partners and Romanek Properties Ltd., both Northbrook, IL-based private real estate investment firms, has decided to put its Hillsdale Business Park, a 445,892-square-foot, six-building business complex in Indianapolis up for sale. The owners have retained Transwestern’s Chicago office as their exclusive sales agent for the portfolio. Officials say they expect the buildings to trade at about $33 million.

Tenants currently occupy 84.6% of the space. Completed in phases in 1986 and 1987, Hillsdale features a mix of office, medical office, flex and light industrial space. The business park sits less than one-half mile from Community Hospital North, one of the largest and newest medical campuses in the region, at the intersection of I-465 and I-69, and currently, medical providers comprise 28% of the tenancy at Hillsdale.