North Meridian Professional Center
3 Office Properties Offered at $10,590,875 in Indianapolis, IN
INVESTMENT HIGHLIGHTS
- Tremendous Access & Visibility
- Attractive Annual Increases
- Anchored By Shadeland Anesthesia & Pain
- Strategic Medical Corridor Location
- Superior Demographic Base
EXECUTIVE SUMMARY
Northmarq, on behalf of ownership, is pleased to offer for sale to qualified investors the opportunity to purchase the North Meridian Medical Office Park located in Indianapolis, IN. This exceptional 72,383 square foot portfolio comprises of three multi-story medical office buildings strategically positioned on a 4-acre parcel with high visibility and seamless accessibility. Located along North Meridian St. in the heart of North Indianapolis’ medical corridor, the portfolio benefits from over 30,000 VPD.
The site is anchored by Shadeland Anesthesia & Pain, which fully occupies building 8805, comprising of 16,720 square feet. The portfolio boasts a strong tenant mix with
consistent rental escalations. Over 50% of Tenants have either executed renewals within the last 12-months, or have executed new, long-term leases, further solidifying the property’s stability. Additionally, landlord has secured new five (5) year leases with both Boston Orthotics and Healing & Helping, reflecting the property’s continued leasing momentum. With 4.54% vacancy remaining, a new investor has the opportunity to maximize yield by leasing the remaining vacant space and driving rental growth over the hold period.
This offering presents an exceptional opportunity to acquire a high-performing medical office portfolio in a prime Indianapolis location with significant upside
potential. and credit tenant mix, tremendous leasing velocity, and an exceptional healthcare location amidst a highly desirable patient population.
The site is anchored by Shadeland Anesthesia & Pain, which fully occupies building 8805, comprising of 16,720 square feet. The portfolio boasts a strong tenant mix with
consistent rental escalations. Over 50% of Tenants have either executed renewals within the last 12-months, or have executed new, long-term leases, further solidifying the property’s stability. Additionally, landlord has secured new five (5) year leases with both Boston Orthotics and Healing & Helping, reflecting the property’s continued leasing momentum. With 4.54% vacancy remaining, a new investor has the opportunity to maximize yield by leasing the remaining vacant space and driving rental growth over the hold period.
This offering presents an exceptional opportunity to acquire a high-performing medical office portfolio in a prime Indianapolis location with significant upside
potential. and credit tenant mix, tremendous leasing velocity, and an exceptional healthcare location amidst a highly desirable patient population.
DATA ROOM Click Here to Access
- Offering Memorandum
- Market Information
PROPERTY FACTS
| Price | $10,590,875 |
| Price / SF | $146.47 / SF |
| Cap Rate | 8% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 72,309 SF |
| Total Land Area | 4.22 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
North Meridian Professional Center
8801 N Meridian St, Indianapolis, IN 46260 |
Office | 27,079 SF | 1980 | - |
|
North Meridian Professional Center
8805 N Meridian St, Indianapolis, IN 46260 |
Office | 16,720 SF | 2002 | - |
|
North Meridian Professional Center
8803 N Meridian St, Indianapolis, IN 46260 |
Office | 28,510 SF | 1981 | - |
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