A large office building on the city’s northwest side that houses the headquarters of Republic Airways Holdings Inc. has been purchased for $14.3 million by a Minneapolis-based firm.
Onward Investors LLC bought the 180,637-square-foot building, known as College Park Plaza, from Los Angeles-based Griffin Capital Essential Asset REIT Inc. Summit Realty Group, which represented Griffin Capital in the sale, announced the transaction Monday.
“The College Park Plaza transaction represents the current strength in the underlying fundamentals of the Indianapolis suburban office market,” Alex Cantu, Summit’s vice president of capital markets, said in a prepared statement.
The building was designed by Indianapolis firm CSO Architects and developed in 1998 for drug wholesaler Bindley Western Industries Inc., later acquired by Ohio-based Cardinal Health Inc. The building is at 8909 Purdue Road, northeast of the intersection of Michigan Road and 86th Street.
Besides Republic Airways, College Park Plaza’s tenants include venture capital firm Bindley Capital Partners, Staples Contract & Commercial Inc., the U.S. Department of Agriculture and MyComputerCareer.edu.
Summit will retain leasing and management of the property. Assisting Cantu in the sale were Summit Executive Vice President Brian Nagle, Director Jerrod Wigal and partners Matt Langfeldt and Rich Forslund.