INDIANA & OHIO NEXCORE GROUP TO DEVELOP NEWMARK NEGOTIATES $60 MILLION LIFE SCIENCES 211,443 SF INDUSTRIAL BUILDING IN INDIANAPOLIS LEASE IN NORTH JACKSON INDIANAPOLIS — NexCore Group has unveiled plans to develop Waterway Labs at 16 Tech in Indianapolis. Cushman & Wakefield will provide leasing services for the $60 million development. NexCore expects to break ground in 2024 on the 100,000-square-foot life sciences building. The project will be situated within the 16 Tech Innovation District, which is a 50-acre destination for entrepreneurship and innovation that is located adjacent to the future campuses of Indiana University Indianapolis and Purdue University in Indianapolis. The five-story development will include two types of space as part of NexCore’s HATCHspaces operating platform: HATCHlabs and HATCHx. HATCHlabs will include four levels with 22,000-square-foot floorplates. The HATCHx floor will offer eight turnkey lab suites of 2,000 square feet as well as 10 offices in a coworking environment. Jon Owens and Joshua Graham of Cushman & Wakefield will handle leasing for Waterway Labs. the building. The property features 201,476 square feet of manufacturing/ warehouse space, 9,967 square feet of office space, a clear height of 35 feet, 19 loading docks, one drive-in door and a 245-car parking lot. development (R&D) campus of The Sherwin-Williams Co. in Warrensville Heights, an eastern suburb of Cleveland. The 105-acre property includes several buildings. Sherwin-Williams has entered into a short-term sale-leaseback agreement with ICP, which plans to repurpose some of the smaller commercial structures on the site while it finalizes redevelopment plans for the R&D building and adjacent acreage. The property will soon be vacated by Sherwin-Williams. NORTH JACKSON, OHIO — Newmark has negotiated a 211,443-square-foot industrial lease at 500 S. Bailey Road in North Jackson, about 60 miles southeast of Cleveland. A large solar manufacturing company signed a long-term lease to occupy the entire building. Terry Coyne of Newmark represented ownership, STAG Industrial Inc., which is renovating ICP ACQUIRES SHERWIN-WILLIAMS R&D CAMPUS, PLANS REDEVELOPMENT WARRENSVILLE HEIGHTS, OHIO — Industrial Commercial Properties (ICP) has acquired the research and CONNOR GROUP ACQUIRES 322-UNIT CARMEL CENTER APARTMENTS CARMEL, IND. — The Connor Group has acquired Carmel Center Apartments in suburban Indianapolis for an undisclosed price. The luxury apartment property, built in 2002, features 322 units. Amenities include a pool, sundeck, outdoor chef’s kitchen and fitness center. Carmel Center marks Connor Group’s third purchase in the Midwest and its seventh acquisition in 2023, bringing its total assets under management to more than $4.5 billion. Wick Kirby, Amanda Friant, Mark Stern, Matthew Lawton and Sam Grohe of JLL represented the seller, NTS Development with an institutional partner. BIG IS BUYING ACQUISITIONS • Single Tenant Net Lease • Portfolios • “One offs” CORPORATE REAL ESTATE • Surplus • Short term leases • Partially leased DEVELOPMENT • Land • Empty shells OUR TRACK RECORD SPEAKS VOLUMES $6.5B IN ASSETS PROPERTIES 563 SQUARE FEET 52M STATES 27 COLLIERS ARRANGES SALE OF 59,511 SF INDUSTRIAL BUILDING IN INDIANAPOLIS MIDWEST CONTACTS INDIANAPOLIS — Colliers has arranged the sale of a 59,511-square-foot industrial building located at 5740 Decatur Blvd. within the Ameriplex Business Park in Indianapolis. The sales price was undisclosed. Alex Cantu and Alex Davenport of Colliers represented the sellers, Brennan Investment Group and Farallon Capital. A combination of private family offices purchased the asset via a 1031 exchange. DABICO Airport Solutions, an equipment manufacturer serving the aviation industry, fully occupies the facility on a new, five-year triple net lease. The property recently received improvements such as a new roof. Mananging Principal 847 813 6812 kbrennan@brennanllc.com Kevin Brennan Senior Vice President Vice President Associate (Ohio, Indiana, Kentucky) (Chicago, Milwaukee, Minneapolis) (Minneapolis) 513 403 7139 847 443 2729 847 443 2720 dlance@brennanllc.com dsmith@brennanllc.com jborenstein@brennanllc.com Doug Lance Dan Smith Jacob Borenstein Atlanta | Austin | Chicago | Cincinnati | Dallas | Denver | El Paso | Greenville | Houston | Indianapolis | Memphis Nashville | Philadelphia | San Diego | Tampa | Washington D.C. brennanllc.com www.REBusinessOnline.com Heartland Real Estate Business • January 2024 • 7
Heartland Real Estate Business January 2024: 7
