Warren & Company Arranges Off-Market $66MM Sale of Single-Tenant, Geico Leased Building in Indianapolis
Warren & Company announces it has completed the off-market sale of 101 West 103rd Street, a 323,000-square-foot two-story office asset located in Indianapolis, Indiana. The asset was sold for $66 million, approximately $204 per square foot, and is 100% leased to Geico for use as a call center.
Warren & Company’s President Robert J. Warren (in conjunction with Indiana Licensee BND Commercial) acted as a Transaction Broker working with both the Seller, Carmel Indy Holdings, LLC, and the Buyer, Real Capital Solutions (Denver, Colorado), to complete the transaction.
Warren said, “This was a unique opportunity for the Buyer to acquire a quality single tenant asset, located in the City of Carmel, the best office submarket in Indianapolis.”
“Geico had been a tenant in the building since 2014, however, its expansion to occupy 100% triggered the potential sale of an asset leased to an Investment Grade Credit tenant.”
“We are pleased that we could broker another trade to one of our valuable clients, Real Capital Solutions.”