M&J Wilkow, DRA Advisors Acquiring Lake Pointe Center III and IV in Indianapolis
The class A office space, high-lease rate, and superior leasing activity over the last 18 months made this purchase very attractive for M&J Wilkow and DRA, says JLL managing director Peter Harwood.
INDIANAPOLIS, IN—M&J Wilkow and a fund managed by DRA Advisors have acquired Lake Pointe Center III and IV in Indianapolis, totaling 170,000 square feet. It is their second acquisition in Indianapolis this year, having also recently purchased Meridian Plaza.
Jones Lang LaSalle’s Jim Postweiler, Peter Harwood and Derek Fohl led the team handling the sale on behalf of the seller, USAA Real Estate. JLL’s Kevin Gillihan provided the local market leasing expertise.
“M&J Wilkow and DRA were looking to expand their footprint in Indianapolis, and Lake Pointe Center was the perfect opportunity,” says JLL managing director Peter Harwood. “The class A office space, high-lease rate, and superior leasing activity over the last 18 months made this purchase very attractive for their team.”
Located in the popular Keystone submarket of Indianapolis, Lake Pointe Center is 10 miles north of downtown Indianapolis, along I-465 and highly sought after for growing businesses. The prominent suburbs of Fishers and Carmel are nearby, drawing a talented and educated workforce. The Keystone submarket is experiencing strong interest from industries such as financial services, insurance, technology and consulting firms. Demand for space remains strong as the submarket is consistently among the top two submarkets in Indianapolis and outperforms other suburban submarkets and the CBD.
“We have seen Lake Pointe Center go through some exciting changes that have really enhanced and transformed the tenant experience, and we felt strongly that this was an excellent opportunity to acquire an exceptional, institutional quality building,” says Tim Shields, senior vice president, M&J Wilkow.
Lake Pointe Center has recently updated amenities, including an on-site conference facility, new fitness center, and renovated lobbies, make this a premier destination for organizations. Set in nature-like surroundings, tenants have access to walking trails and lake views throughout the property.