Marcus & Millichap Arranges The Sale Of A 2,400 Sf Office Building in Indianapolis, IN
INDIANAPOLIS, IN, July 27, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of BMO Harris Bank, a 2,400 SF office property located in Indianapolis, IN, according to Josh Caruana, regional manager of the firm’s Indianapolis office. The asset sold for $1,260,000.
Forest Bender and Joseph DiSalvo, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a limited liability company, was secured and represented by Forest Bender and Joseph DiSalvo.
BMO Harris Bank is located at 8675 US-31 in Indianapolis, IN. Marcus and Millichap is pleased to present the Absolute NNN BMO Harris Bank in Indianapolis, IN. The bank is situated on approximately on 0.88 +/- acres and was built in 1988.
The property has been an operating bank branch since development in 1988. There are Four (4), Five (5) year renewal options after the lease term ends in 4+ years. BMO Bank is Strategically positioned as an out lot to a major retail center on US Highway 31 South. US 31 South is one of the largest retail corridors in the Indianapolis area and is the major North/South thoroughfare through Greenwood, leading into Indianapolis. This property sits just one block north of the Greenwood Park Mall, one block West of Community Hospital and is in close proximity to a multitude of National, Regional, and Local tenants. The Southside of Indianapolis and the Greenwood area is one of the fastest growing populations in the Indianapolis MSA, due to its proximity to major highways, low cost of living, and affordable housing options. With a growing population and a booming local economy, this property should provide an investor with stable cash flow for years to come.
Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $987 billion as of April 30, 2020 and over 45,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets.
• 44 Day List-to-Close | Closed in 20 Days from Under Contract
• A+ Credit Rated Tenant from Standard and Poors
• Long-Term Absolute NNN Lease | Zero Landlord Responsibilities | 31 Year Site History
• Located Along US 31 South, One of the Largest Retail Corridors in the City
• US 31 South has Traffic Counts in Excess of 30,000 Vehicles Per Day
• Population of Nearly 200,000 People in the Five Mile Area
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.