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Net-Leased Government Offices Change Hands in Crown Point
Marcus & Millichap closed the sale of a 34,704-square foot property located in Crown Point, IN and net-leased to the State of Indiana. The asset sold for $7,000,000.
Mitchell Kiven and Nicholas Kanich, investment specialists in Marcus & Millichap’s Chicago Downtown office, marketed the property on behalf of the seller, a partnership. The buyer, a limited liability company, was secured and represented by Kiven and Kanich. Josh Caruana, Regional Manager and Broker, assisted in closing this transaction.
The property is located at 9801 Georgia St. in Crown Point. It’s surrounded by new development and situated near I-65, the Interstate connecting Chicago and Indianapolis.
The buyer was identified quickly through the team’s initial marketing efforts and closed quickly with no price adjustments during the escrow period. “Net lease assets with strong fundamentals, particularly recent renewals with minimal landlord concessions, have continued to stay in favor in today’s environment,” said Kanich.
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- ◦Sale/Acquisition
