crefeed.com | Indianapolis area office building sells $16.75 million

5/1/2007

Indianapolis area office building sells $16.75 million

Meridian Tower

San Francisco-based real estate investment management firm Virtu Investments LLC purchased the Meridian Tower in Carmel, Ind. for $16.75 million on May 31.

The six-story, 142,897 sq. foot office building is located in the North Meridian/Carmel submarket, which is 16 miles north of Indianapolis.

NAI Capital brokered the sale on behalf of Virtu Investments.

Meridian Real Estate represented seller GPI Retail Properties. GPI paid $8.145 million for the building in 2004.

Located at 201 W. 103rd St., the Meridian Tower was built in 1991. The building, which is located adjacent to the Meridian St. corridor, was 90 percent occupied at the time of the sale, housing businesses such as AutoBase vehicle-classifieds service and Grueninger Tours group-travel service.

Founded in 1997, Virtu Investments currently owns and operates approximately 10,000 apartment units as well office, industrial and hotel investments nationwide.

Address: 201 W. 103rd St., Carmel, Ind.

Size: 142,897 sq. feet

Built: 1991

Architect: Browning Day Mullins Dierdorf, Inc.

Filed Under: Office

E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us

Comments on this article

No comments have been posted in the last 15 days!

Send us your comments on this article

Related Headlines

Colliers International welcomes three brokers in California - 5/29/2009
Texas hotel sells for $4.275M - 5/29/2009
Massey Knakal lists NoHo retail building for $5.95M - 5/29/2009
California industrial building sells for nearly $3 million - 5/29/2009
NAI facilitates sale of Alaska mixed-use building - 5/28/2009
Long Beach retail center commands $6.05M - 5/28/2009
Florida land fetches $2.725M - 5/28/2009
Marcus & Millichap list Virginia retail store for more than $10.2M - 5/28/2009
Colliers Arnold stays busy in Tampa - 5/27/2009
Colliers sells two buildings in California - 5/27/2009