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Romanek Pays $50M for INTECH Assets

CHICAGO-The local investment and development company picks up two buildings totaling 282,000 sf in INTECH Park, the largest office park in Indiana, allowing developer Lauth Property Group to continue development of the Indianapolis office park.

By Mark Ruda | Updated on October 12, 2005

CHICAGO-Romanek Properties, Ltd. has picked up the 282,000-sf INTECH properties in Indianapolis for more than $50 million. The two buildings in the 210-acre INTECH Park, the largest office park in Indiana, were sold by their developer, Lauth Property Group.

“The INTECH properties are clearly among the finest in the area, and they allow us to continue our ongoing effort to acquire significant class-A assets in important markets nationwide,” says Romanek Properties investment director Peter L. Holstein. Meanwhile, Lauth Property Group principal and executive vice president Mike Curless says the sale allows his company to redeploy capital in additional development at INTECH Park, where 750,000 sf has been built, as well as make other investments nationwide.

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