Description

• 120,000 two building stabilized acquisition located in the northern submarket of Indianapolis.
• The property consisted of two rear-loaded office warehouse buildings one of which was 100% occupied by Roche, which maintained an adjacent North American HQ which convinced us of likely longevity of building utilization.
• This project was acquired from a local businessman in the community.  The buildings had some deferred maintenance and required additional capital investment.  The seller decided he would sell rather than invest the additional capital needed in the property.
• Following the acquisition, we invested capital in some well thought out areas of the property in order to remain competitive in the market.  This also allowed us to increase rental rates which supported a higher building valuation.