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The Pyramids Office Park Acquired

Wednesday, April 6, 2022 10:36 AM EDT Updated: Wednesday, April 6, 2022 02:44 PM EDT
By Reed Parker, Writer/Reporter

Indianapolis-based KennMar has announced the acquisition of The Pyramids office park on the north side of Indianapolis. The three 11-story buildings total more than 366,000 square feet.

KennMar made the acquisition with assistance from INVST LLC and lender Teachers Credit Union. KennMar President and Chief Financial Officer Brent Benge says his firm has been interested in purchasing the buildings for some time.

“While the pandemic has created uncertainty around the office market, we are bullish on the sector and anticipate that businesses will eventually return to an in-person work setting over the next several years.”

Benge says the acquision also fits well with the company’s plans to develop the nearby former Carribean Cove site. KennMar currently has several projects under construction on the site, including a Starbucks and a 10,000 square-foot retail center to be named College Park Shoppes.

Story Continues Below

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Perspectives

Strategic steps to take before you sell your company

Strategic steps to take before you sell your company

Before initiating the sale process, it's crucial to evaluate the financial health of your business. Prospective buyers will closely examine financial statements, profit margins, cash flow, and growth potential. Engaging a professional accountant or financial advisor can provide valuable insights to ensure your financial records are accurate and well-organized....

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