Indy’s largest suburban office parks have new owners
Investment activity in Indianapolis has been strong during this post-Recession cycle
July 24, 2019
- Investment activity in Indianapolis has been strong during this post-Recession cycle. From 2015 through 2018, 18.2 million square feet of office space traded hands for a total investment of $1.8 billion.
- The recent sale of Keystone at the Crossing, the third-largest office park in Indianapolis, begs the question; just how many of Indy’s major office complexes have traded hands this cycle?
- Of the ten largest Class A suburban office parks, six have new ownership. Two more are currently on the market and should close later this year. That leaves only two that have not been sold since 2015. So by year-end, 80.0 percent of the largest assets in suburban Indianapolis will have undergone an ownership change within five years!
- This trend holds true when including CBD properties as well. Of the largest Class A complexes in all of Indianapolis (downtown towers or suburban office parks), eight of the Top-10 have sold this cycle.
- Check out our interactive map to learn more about each office park’s latest sale: https://arcg.is/09rTLm0
Source: JLL Research