INDIANAPOLIS—A joint venture between Middleton Partners and Romanek Properties Ltd., both Northbrook, IL-based real estate firms, has just sold its Hillsdale Business Park, a 445,892 square-foot property in Indianapolis for more than $30 million to Brennan Investment Group, the latest among a growing number of investors to seek the higher yields found in this city.
“This is a very active market from a leasing perspective,“ Gary Nussbaum, managing director of Transwestern, tells GlobeSt.com. Along with senior associate David Matheis, he represented the seller. “Normally, we've got two or three tenants looking at every vacancy.”
Currently 90% leased, the six-building campus at 6911 – 6999 Hillsdale Crt. sits in the city's northeast submarket near the intersection of I-465 and I-69 and offers a mix of office, flex and light industrial space. Community North Hospital is nearby, and its Community Health Network occupies 28% of the business park.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
