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Northeast Business Center - Indianapolis, IN
Opportunity:
Superior access, location and visibility are the cornerstones of Northeast Business Center. Attractive upside potential exists from upward trends in rental rates in this densely populated and developed area due to a shortage of land in the submarket. The buildings’ well balanced tenant rent roll already produces stable cash flows. Strategically located between I-69 interchanges and within close proximity to I-465, the park is situated in the growing NE corridor of Indianapolis in Hamilton County, the third fastest growing county in the U.S.
View a detailed map of this property (MapQuest).
- Property: Business Office Park comprised of nine one-story Office/Warehouse buildings
- Size: 522,358 RSF on 40.3 Acres
- Built: 1986 - 1990
- Purchase: March, 2005
- Ownership: Westminster Northeast LLC,
Owned 30% Fund V and
70% Fund VI
- At Acquisition:
- Price: $26,400,000
- Occupancy: 87.6%
- Cost per SF: $50
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