Investment Overview

Marcus & Millichap is pleased to present to market available for sale Lakeside at College Park, a 94 percent occupied, multi-tenant professional office building located in Indianapolis, Indiana, within the renowned Northwest Office Submarket of College Park. Lakeside at College Park, constructed in 1982, features a strong foundation in the market as a community service-oriented facility across a diverse tenant-mix. As the northwest corridor continues to blossom, with ample new development, redevelopment, and conversion projects across the Michigan Road corridor, the Subject Property has blossomed following ample renovations, improvements, and upgrades, of its own with a considerable influx of new leases since 2019 as well as several internal expansions with the in-place tenant base. The Subject Property is rapidly approaching full occupancy and features a strong mix of professional over a well staggered rent rollover schedule providing a strong in-place cash flow with real upside potential in built-in rent growth and replaceable below-market rents for any Investor. Market: Lakeside at College Park is in the Indianapolis Metropolitan Area. The Indianapolis MSA, is the 7th largest Midwest MSA and 32nd largest in the country, with a reported 2.1 million residents per the 2020 census, up approximately 11.8 percent from 2010. The Lakeside at College Park Office Building is positioned to be a community-serving Class B Professional Office Building as an integral part of the College Park Office Park servicing the Northwest Suburbs of Indianapolis. Location: Lakeside at College Park is situated to overlook Pyramids Lake, just off the I-465 and Michigan Road Interchange - a densely populated commercial corridor with ongoing new development as well as conversion projects. Interstate 465, also referred to as the loop, realizes a daily traffic count of 126,000 vehicles per day as the primary thoroughfare of Indianapolis as it encompasses the city and provides easy access. The recent and future growth outlook for Lakeside at College Park should come as no surprise, as it is merely 12 miles outside of the Indianapolis CBD while also in the periphery of Carmel, Indiana, the most prominent Indianapolis Suburban Submarket. Lakeside at College Park realizes benefits in demand from both directions, while an excellent suburban option to urban employee-based companies the Subject Property also is well-positioned as the lower cost provider to Tenants than the more prestigious Carmel submarket. Property Features: Lakeside at College Park is one of the rare suburban office buildings in the area that couples the immediate, direct access to downtown Indianapolis with abundant on-site parking, outdoor seating areas, and excellent green space tucked into trees with attractive rare views across Pyramid Lake. The Subject Property is situated on over 5.83 Acres and features 415 surface parking spaces with no steep slopes or steps evenly split to the north and south of the building that led to the entrance. Acquired in 2018, the Subject Property has undergone ample lease-up as a result of updated interior lobbies, common areas, exterior lighting, and Tenant updated spaces moving the property to a true Class B+ status.