The value of the contract wasn't disclosed. Duke Realty Corp. of Indianapolis, IN previously leased the 85%-occupied properties containing a mix of office, flex and distribution space.
Realvest only has to find a tenant for 20,217 sf in the single, 37,932-sf building at Lakepoint 11 to bring the entire campus up to 100% occupancy. Estimated average asking rents are $18 per sf to $20 per sf, according to area brokers familiar with the airport submarket.
The tenant roll at the 64,057 sf, fully leased Lakepoint 1 comprises Attorney's Title, 27,360 sf; Helsel Phelps, 10,901 sf; Capital Cargo, 6,740 sf; and several smaller tenants taking a total 19,056 sf.
A mix of small tenants occupies the 37,932-sf Lakepoint 11 with 20,217 sf vacant. At Lakepoint 111, Flying Foods occupies the entire 32,400 sf.
Lakepoint 1 was built in 1985; Lakepoint 11 and 111 in 1986. Realvest founder/chairman George D. Livingston and vice president Robert Blackwell negotiated the leasing contract with Glenborough.
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