INTECH Park Building SoldPosted: Updated:
One of the buildings in Indianapolis' INTECH park has been sold to a joint venture between Texas and Illinois companies. INTECH 12 was most recently occupied by the information technology department of Indianapolis-based Eli Lilly and Co. (NYSE: LLY).
February 27, 2014
Indianapolis, Ind. -- Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that Atlanta-based Wells Management Company has sold INTECH 12, 6620 Network Way, in Indianapolis, to a joint venture between Encore Office LLC of Dallas and Middleton Partners LLC of Northbrook, IL.
"We found many advantages to purchasing INTECH 12," said Mitch Greenberg, Partner, Middleton Partners. "The quality construction and layout of the building will appeal to tenants looking for a larger space and open floor plan. Plus the location provides easy access to the highway systems."
The seller was represented by Michael Semler, SIOR, Senior Managing Director in Cassidy Turley's Indianapolis office. Cincinnati-based CapHarbor Property Management is the asset manager for Wells Management Company.
Located in the southwest quadrant of West 71st Street and Interstate 465 in the Indianapolis metro area, the 140,368-square-foot office building has
approximately 15,000 square feet of warehouse space. From 2003 to August 2013, Eli Lilly and Company's information technology department occupied the building. Built in 2000, the entire building is currently available for lease. INTECH 12 has easy access to I-465 and Interstates 65, 70 and 74.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with
more than 4,000 professionals in more than 60 offices nationwide. With
headquarters in Washington, DC, the company represents a wide range of
clients-from small businesses to Fortune 500 companies, from local
non-profits to major institutions. The firm completed transactions valued at $25.8 billion in 2013, manages approximately 400 million square feet on
behalf of institutional, corporate and private clients and supports more
than 24,000 domestic corporate services locations. Cassidy Turley serves
owners, investors and tenants with a full spectrum of integrated commercial real estate services-including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets.
Source: Cassidy Turley