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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 11, 2021:
Briefs:
— The Mark, a 260-unit apartment property at the Fishers District, is up for sale with an undisclosed price tag. The property, which features a three-story interior parking garage and about 105,000 square feet of first-floor retail space, opened in mid-2020. The property was developed by Watermark Residential, the multifamily housing division of Indianapolis-based Thompson Thrift. Cushman & Wakefield’s Indianapolis multifamily team, led by George Tikijian and Hannah Ott, are the brokers on the project.
— The owner of the Morrison Opera Place building at 47-49 S. Meridian St. has listed the former Hard Rock Cafe space at street level for lease, following its use for a pop-up shop during the NCAA men’s basketball tournament in March and early April. The nearly 9,450-square-foot space, which still has most of the fixtures and equipment used by the Hard Rock before it closed in early 2019, is being marketed by CBRE Indianapolis broker Steve Delaney. The space is continuing to be marketed for retail and restaurant uses. It’s not immediately clear whether the space being for lease brings an end to owner Bruce Bodner’s grand plans to build an 18-story addition to the building, which would have added a hotel and dozens of condos.
Sales:
Stout Field Interest LLC purchased a 266,692-square-foot, five-building industrial warehouse portfolio at 1704, 1820, 1848 and 1940 Stout Field E. Drive and 1806 Stout Field W. Drive. The buyer and seller were represented by Joseph DiSalvo, Forest Bender and Alex Nulf of Marcus & Millichap.
IndyScreams LLC purchased 24 acres of land located at 909 S. Shortridge Road. The buyer was represented by Alexa Larson of ALO Property Group. The seller, Producers Realty LLC, was represented by Stan Elser of Lee & Associates.
Leases:
LandWorx Engineering leased 1,756 square feet at 958 E. Washington St. The landlord, Fred Abel LLC, was represented by Creighton Shook and Rob Coombes of Shook Realty Group. The tenant was represented by Alison Melton of ALO Property Group.
DGP Intelsius Inc. leased 54,120 square feet at 1399 Perry Road, Plainfield. The tenant was represented by Fritz Kauffman of Cushman & Wakefield. The landlord, Big Box 1399 Perry LLC, was represented by Andrew Brown of Exeter Group.
Midwest Washing Equipment leased 11,600 square feet at 6300 Brookville Road. The tenant was represented by Dennis Roudebush of Roudebush Realty. The landlord, Kostoff Properties Inc., was represented by Kevin Archer of Cushman & Wakefield.
Construction:
Kort Builders completed a 14,000-square-foot office space for Alpha Gamma Delta, 8710 N. Meridian St.
Kort Builders completed a 5,800-square-foot office/warehouse space for 7NT, 1422 S. Talbott St.
Kort Builders completed a 1500-square-foot warehouse space for Weas Phase I, 17297 Oak Ridge Road, Westfield.
Rates:
The average rate for 30-year mortgages fell from 2.98% to 2.96% in the week ended May 6, according to FreddieMac. The rate for 15-year mortgages fell from 2.31 to 2.30%.
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