JLL closes sale of local office building at 11100 USA Parkway
Property sold to joint venture partnership between a fund managed by DRA Advisors and M & J Wilkow
INDIANAPOLIS, July 28, 2022 — JLL was proud to lead the sale of a large local building, 11100 USA Parkway in Fishers, Indiana. The buyer, a joint venture partnership between a fund managed by DRA Advisors and M&J Wilkow, will renovate the approximate 350,000-rentable-square-foot building as part of an extensive upgrade to common areas and tenant amenities.
11100 USA Parkway is a Class A office building located in the growing Fishers submarket that currently offers abundant parking, more than 27 common-area conference rooms and a 192-seat auditorium with updated seating and AV capabilities. In addition to the office amenities, the building includes a café, a fitness center complete with a locker room and shower facility, an outdoor patio with soft seating and lake views, and proximity to walking trails that lead to The Yard and many other amenities.
Since 2018, DRA and Wilkow have jointly purchased Keystone at the Crossing, Meridian Plaza and Lake Point Center III & IV in the Indianapolis area.
“DRA and Wilkow’s continued investments in the Indianapolis community is a testament to the health and vitality of our market,” commented John Robinson, managing director for JLL Indianapolis. “Office users want enticing amenities and Class A buildings with green space that are in proximity to exciting venues. That is exactly what this space offers. And, after the first-class upgrade package is complete, this space will offer an even further elevated experience.”
The 39.4-acre parcel of land includes over six acres of buildable land, yet to be developed. With significant interstate visibility, nearly 104,000 vehicles are exposed to the building’s exterior signage each day. For quick and convenient access, the office building is nestled directly between two Interstate 69 access points and is an easy drive to the Nickel Plate District.
11100 USA Parkway is within walking distance to all the retail amenities the city has to offer, including Fishers District—an 18-acre, mixed-use development offering a thoughtful and eclectic blend of retail, entertainment and residential spaces. Current offerings include CycleBar, Hyatt House, Kincaid’s Meat Market, Peace Water Winery and Sangiovese Ristorante. Fishers was voted the fourth safest city in Indiana by SafeWise in 2021.
John Robinson of JLL represented the seller in the transaction and will oversee leasing efforts on behalf of the new ownership group alongside JLL colleagues Abby Zito and Kevin Gillihan. The seller, Navient, will remain a tenant in the building, supporting its Fishers employee base in their work in education finance and business processing solutions.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About DRA Advisors
DRA Advisors LLC is a New York-based registered investment advisor with approximately 95 employees specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies. Since DRA was founded in 1986, the firm has opened additional offices in Miami and San Francisco while acquiring over $36 billions of real estate. The acquisitions include 84 million square feet of industrial, 63 million square feet of office, 83 million square feet of retail and 80,000 multifamily units. As of March 31, 2022, DRA has $12.0 billion in gross assets under management. http://draadvisors.com
About M & J Wilkow
M & J Wilkow is a leading commercial real estate owner and operator dedicated to creating value for its investors. The Company’s approach to real estate emerged distinctively from an owner’s perspective and has evolved over 83 years in the real estate business. M & J Wilkow’s portfolio consists of 85 properties consisting of approximately 13.9 million square feet. The aggregate market value of the portfolio is estimated to be in excess of $3 billion. For more information, visit www.wilkow.com