Investment Overview

Marcus & Millichap is pleased to present the exclusive offering of The Brakeman Apartments, a new construction apartment community located in downtown Lebanon, IN. The property consists of 44 apartment units and 2 leased commercial spaces (2,100 & 2,750 square feet respectively.) The Brakeman offers a mix of studios (6), 1-Bedroom (25), and 2-Bedroom (13) floor plans. With its stylish, high-quality finishes, and variety of unit types and amenities, the property is designed for comfort and convenience. The Brakeman’s downtown location within Lebanon provides residents easy access to local attractions, dining, and shopping, providing the perfect blend of suburban peace with urban accessibility. Located 30 miles north of downtown Indianapolis, Lebanon is a short commute to the diverse and robust Indianapolis economy driven by manufacturing, healthcare, education, and logistics. The rapid suburban expansion of Indianapolis’s northern affluent suburbs has now encompassed Lebanon as part of the Indianapolis MSA. Additionally, Lebanon is home to the LEAP district “Limitless Exploration Advanced Pace” which is a 9,000 acre hub aimed at attracting high-tech industries, research & development, and advanced manufacturing facilities which is expected to employ tens of thousands of people once completed. The district is situated along interstate I-65, providing direct access to Indianapolis and Lafeyette and is expected to draw skilled workforce from nearby markets. The Brakeman is less than 3 miles from the LEAP district, and less than 3 miles from the new Eli Lily manufacturing site. With Lebanon and the surrounding towns’ dynamic manufacturing economy, the Boone County area boasts impressive growth and demographics, and endless potential as the LEAP District continues to develop and attract major employers. Since 2010, Boone county has experienced approximately 27% population growth and in the last 4 years has averaged 3.5% rent growth year-overyear. With the expansion of the LEAP district and potentially tens of thousands of new residents moving to the county, Lebanon and surrounding markets are well-poised to experience substantial rent growth, population growth, and downward pressure on market vacancy rates.