Location: 722 W 16th Street, Indianapolis, IN 46202
Property: Creative Loft Office Building
Goal: Execute property sale of loft office building in downtown Indianapolis
The subject property is a 7,100 square foot former industrial building that was converted to a class A finished loft office building on the northwest corner of downtown Indianapolis.
The property was located in a neighborhood of downtown that was in the middle of a revitalization being driven by public and private investment to create a tech and bio-tech hub for the city. Using the neighborhood momentum, and its proximity to the CBD, we were able to market the property to a diverse set of users and ultimately found a buyer that saw the benefit of the property. The buyer was able to capitalize on ample free, on-site parking and a quick conversion to fit their specialized needs.
Once the buyer was identified, we were able to execute a closing within 30 days of having an executed purchase agreement.
SRG was involved in helping our client with the initial purchase the property, and a little less than four years later, we helped the Seller realize a 40+% return on their investment while providing their company with great office space for that time.