Allied Solutions Building
Location: Carmel, IN
Property Type: Office and Retail
Investment Type: Direct Acquisition
Investment Date: January 2018
Status: Unrealized
Allied Solutions Building
- 142,000 square foot office building in the Indianapolis submarket Carmel.
- Acquired in January 2018.
- 74% occupied at acquisition to an healthcare tenant with a AA- credit rating on a 10-year lease with a “must-take” for the remaining vacancy within 3 years. High 9% return on cost after must-take.
- Financed with a long-term fixed rate senior loan.
Investment Highlights
- Leased ground-floor retail tenants Fork+Ale House (3,191sf until 2029), Penn & Beech (2,400sf until 2029), Java Coffee House (2,095sf until 2030), Renova Med-Spa (2030)
