Investment Overview

Marcus & Millichap is pleased to present to market available for sale the Broadway Professional Arts MOB- an 82 percent occupied 14,932 square foot, multi-tenant medical/professional office building located in the heart of The Northwest Central Business District in Merrillville, IN. Surrounded by numerous medical facilities in the immediate area, the property sits adjacent to Methodist Hospitals Southlake Campus. Built in 1983, BPA has been extremely well-maintained and constantly updated over the years with over $100,000 in space modernizations and upgrades in the last three years. Tenants have demonstrated strong commitment to the property with 28 percent of the tenant mix having occupied their space for over 20 years. Market: BPA is located in the heart of the Northwest Central Business District in Merrillville, IN along E 86th Pl and Connecticut St, just south of the I-65 and US 30 Interchange. The subject property sits just east of Broadway which benefits from daily traffic counts in excess of 22,000 Vehicles per day. BPA MOB is positioned as a community-serving Class B Medical/Professional Office Building that is just north of Methodist Hospital. Location: BPA is situated off Broadway along E 86th Pl and Connecticut St, just South of the I-65 and US 30 interchange. Located in Lake County, Merrillville is an integral part of the Chicago MSA, the third largest Metropolitan Statistical Area in the country by estimated population at roughly 9,459,000 residents. The Subject Property sits adjacent to Methodist Hospitals Southlake Campus in the heart of The Northwest Central Business District in a densely populated medical office/ hospital area. With nearby access to E U.S. Hwy 30 and I-65, BPA is only a 45-minute drive to Chicago’s South Loop. Property Features: Broadway Professional Arts is a well-maintained, brick masonry building divided into eight various suites with value-add upside in a fundamentally sound office market. The property sits on two acres and features 110 parking spaces. In the last three years, the interior has been updated with new ceilings, new carpeting as well as new lighting. Stable Current Tenant Mix: Broadway Professional Arts MOB is currently 82 percent occupied by a strong mix of medical and medical related tenants, most of which have demonstrated long-term commitment. There is room for potential upside as tenants are currently paying below market rents, leaving opportunity for potential rent increases for a new investor.