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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThese news notes appeared in IBJ’s Real Estate Weekly on May 4, 2021:
Briefs:
— Cushman & Wakefield’s Midwest Multifamily Advisory Group recently closed a round of offers for a portfolio of seven affordable housing properties in Indiana. The portfolio is comprised of 1,094 units, including 358 in Indianapolis. Offers for the portfolio closed April 30. The apartment communities included in the deal are Bradford Lake in Indianapolis; Country View in Bloomington; Valley Ridge in New Albany; Chateau in Muncie; Blueridge Terrace in Shelbyville; Lebanon Manor in Lebanon; and Rainbow Hills in Bedford.
— Gomez BBQ’s second location, at 2827 E. 10th St., is now open. The restaurant had its soft opening April 21. Current hours are 7 a.m. to 1 p.m. and 3 p.m. to 8 p.m. Tuesday through Thursday, 7 a.m. to 1 p.m. and 3 p.m. to 9 p.m. Friday; 9 a.m. to 9 p.m. Saturday; 9 a.m. to 3 p.m. Sunday; and closed on Monday. Gomez BBQ also has a location at City Market, 222 E. Market St.
— DYC Fitness had its grand opening Saturday at 1703 E. Michigan St. The owner and head trainer is Jeremy Stephens of Indianapolis. The gym’s name stands for Disturb Your Comfort—an invitation for clients to step out of their comfort zones.
— Indianapolis-based Cityscape Residential has secured $50.6 million in financing for its new Nexus multi-family project in Noblesville. The project, which broke ground in April, will feature 287 upscale apartments in the city’s downtown. The project is one of three CityScape developments to receive a total of nearly $135 million in funding, with the other two being in Garter, Kansas, and Lexington, Kentucky. Terms of the loans were not disclosed, nor was the institution through which they were secured.
Sales:
TCP Michigan 79 LLC purchased a 11,252-square-foot retail strip at 7841-7853 Michigan Road. The seller, Michigan Road Plaza LLC, and the buyer were represented by Joseph DiSalvo and Forest Bender of Marcus & Millichap.
LifeWay Apostolic Church purchased a 9,728-square-foot office building at 7754 Cobblestone Drive, Avon. The seller, the Sherriff of Hendricks County, was represented by Mitch Doner of Bradley Company. The buyer was represented by Mark Coffey of Carpenter Realtors.
Leases:
New York Gourmet Deli leased 2,400 square feet at 21st & Mitthoeffer Center, 9945 E. 21st St. The landlord, LOR Corporation, was represented by Jason Fried of McCrea Property Group. The tenant represented itself.
Luna Spa leased 1,200 square feet at Stafford Crossing, 2230 Stafford Road. The landlord, CS Property Management, was represented by Jason Fried of McCrea Property Group. The tenant was represented by Karen Yan of Best Value Realty.
Wig Queen Z Hair leased 1,200 square feet at Arlington Square, 1005 N. Arlington Ave. The Landlord, ProVest PDQ Arlington LLC, was represented by Jason Fried of McCrea Property Group. The tenant represented itself.
Construction:
Capitol Construction completed a 17,500-square-foot co-working office for CoHatch at 6151 Central Ave.
Rates:
The average rate for 30-year mortgages rose from 2.97% to 2.98% in the week ended April 28, according to FreddieMac. The rate for 15-year mortgages rose from 2.29% to 2.31%.
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