Now known as Woodland Business Park, the property includes a 105,394-sf building at 4925 Indiana Ave., a 55,467-sf building at 4951 Indiana Ave. and 51,986-sf building at 4979 Indiana Ave. With the larger building being offered at just under $5.8 million, the asking price for the three-building package is $70 per sf. In a submarket where office vacancy hovers near 30%, all three buildings sold by Tellabs are vacant.
"There has been a significant level of interest in these properties over the last 30 days," Fortuna says. "Users are very focused on purchasing these buildings at below market asking prices."
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