John Huguenard, Angela Wethington and Kimberly Estes withColliers Turley Martin Tucker in Indianapolis represented theseller in the transaction. "In the four years, First Industrial hadrepositioned the property and increased its value," he tellsGlobeSt.com.
The buildings are 204,000 sf and 139,200 sf, and are 92%occupied, he says. Tenants include St. Vincent Hospital, which usesits space for a rehabilitation and sports medicine center, as wellas tenants Habegger Corp. and Arvco.
The portfolio is in the Northwest Business Park, which is partof Park 100, a 200-acre area with 22 million sf of office,industrial and other mixed uses. "That market is doing very well,"Huguenard says. "The vacancy level is inside 10%, and there's lotsof demand."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
