NE Business Center Sold to Citimark

INDIANAPOLIS—Indiana’s top city has one of the most vibrant industrial markets in the nation, and investors have taken notice of the low vacancy and increasing demand. The latest trade just occurred as Lake Forest, IL-based The Westminster Funds sold the 522,358-square-foot Northeast Business Center to locally-based Citimark Management Co., Inc. The terms of the sale were not disclosed.

Westminster, which provides risk-adjusted investing for private portfolio and private foundation investors, was represented by Jeff Castell, senior managing director and principal, in Cassidy Turley’s Indianapolis office. Cassidy Turley’s Todd Vannatta, senior vice president and principal, assisted with leasing services. Citimark, a real estate and construction company, represented itself in the transaction.