Press Releases
Marcus & Millichap Closes $28 Million Trophy Industrial Asset Sale in Suburban Indianapolis
June 12, 2025
CARMEL, Ind., June 12, 2025 – 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 the $28 million Carmel Tech Center, a three-building, 209,056-square-foot industrial flex portfolio in Carmel, Indiana.
“Located in a high-barrier-to-entry submarket within Hamilton County, the fastest-growing county in Indiana, this generational asset presents a rare opportunity to acquire a flex portfolio with a distinctive blend of office and warehouse tenants,” said Julia Evinger, managing director of investments, Marcus & Millichap. Based in Indianapolis, Evinger specializes in industrial investment sales. “We generated a competitive buyer pool, collected 23 offers, conducted a final round with 11 investors, and closed successfully despite a challenging capital markets environment.” Evinger exclusively represented the seller, a national commercial real estate investment and development company, and procured the buyer, a Midwest-based private commercial real estate investment company.
The center offers excellent accessibility via Interstate 465 and U.S. 31, which carry approximately 145,000 and 83,000 vehicles per day, respectively. It’s about 40 minutes from Indianapolis International Airport, with Indianapolis Executive and Indianapolis Metropolitan Airports also nearby.
The properties include 833-887 Carmel Drive, a 58,430-square-foot building constructed in 1988 and renovated in 2022; 12302-12388 Hancock Street, a 74,074-square-foot completed in 1988 and renovated in 2016; and 12202-12292 Hancock Street, a 76,552-square-foot building constructed in 1988 and renovated in 2004. Anchor tenants across the portfolio include Vantiva, Stryker Orthopaedics, Live Nation, Option Care Health, Securitas Technology, Snap One Partner Store, and T2 Systems.
“Located in a high-barrier-to-entry submarket within Hamilton County, the fastest-growing county in Indiana, this generational asset presents a rare opportunity to acquire a flex portfolio with a distinctive blend of office and warehouse tenants,” said Julia Evinger, managing director of investments, Marcus & Millichap. Based in Indianapolis, Evinger specializes in industrial investment sales. “We generated a competitive buyer pool, collected 23 offers, conducted a final round with 11 investors, and closed successfully despite a challenging capital markets environment.” Evinger exclusively represented the seller, a national commercial real estate investment and development company, and procured the buyer, a Midwest-based private commercial real estate investment company.
The center offers excellent accessibility via Interstate 465 and U.S. 31, which carry approximately 145,000 and 83,000 vehicles per day, respectively. It’s about 40 minutes from Indianapolis International Airport, with Indianapolis Executive and Indianapolis Metropolitan Airports also nearby.
The properties include 833-887 Carmel Drive, a 58,430-square-foot building constructed in 1988 and renovated in 2022; 12302-12388 Hancock Street, a 74,074-square-foot completed in 1988 and renovated in 2016; and 12202-12292 Hancock Street, a 76,552-square-foot building constructed in 1988 and renovated in 2004. Anchor tenants across the portfolio include Vantiva, Stryker Orthopaedics, Live Nation, Option Care Health, Securitas Technology, Snap One Partner Store, and T2 Systems.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
