INDIANAPOLIS—Like many suburban office markets, Indianapolis' may have suffered during the recession, but an improving jobs picture has made its office parks more attractive to investors. Cushman & Wakefield / Summit Realty Group, for example, has just closed the sale of Waterplace Park, a 113,546 square foot, four-building suburban office portfolio in the region's Meridian Corridor, its largest office submarket.
Keystone Realty Group, an Indianapolis-based real estate manager, sold the property, located at 8935-9011 N Meridian St. Evergreen Investment Corp., based southeast of the city in Shelbyville, bought it for an undisclosed price.
"The Meridian Corridor has absorbed a significant amount of space this year," C&W/Summit capital markets vice president Alex Cantu tells GlobeSt.com. Furthermore, "there is a lack of new supply on the market," and both factors have helped make properties like this appealing.
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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.
