Home » Industry News » Institutional Joint Venture Marketing Industrial

Institutional Joint Venture Marketing Industrial

Jul 14, 2008 1:07 PM, Staff report

A joint venture between CalPERS and LaSalle Investment Management is selling a 12-building portfolio of office/flex buildings in Indianapolis. The joint venture, dubbed CalEast, has enlisted Cushman & Wakefield to sell the 656,000 sq. ft. portfolio, which is located in two business parks along Interstate 465 close to downtown and the airport.

According to a local source, the deal is valued at $64 per sq. ft., or around $42 million. Occupancy stands at 84%. Primary tenants include the Department of Agriculture, the U.S. Geological Survey and U.S. Customs.

Want to use this article? Click here for options!
© 2010 Penton Media Inc.


Acceptable Use Policy
blog comments powered by Disqus

Quick Poll

NREI Interactive Products

  • Podcast

    Commercial Real Estate: Hey, Save a Piece of Stimulus Pie for Me!

    Following a year that saw the near meltdown of the banking system, 2010 could shape up to be a better year for investors, though perhaps not as robust as some would wish.

  • Podcast

    Is the Recession Over?

    Rick Mattoon, senior economist with the Federal Reserve Bank of Chicago, shares the latest numbers from the Fed's National Activity Index that show the economy is experiencing a fairly sharp rebound from the bottom of the Great Recession.

  • Webinars

    2010: The Year of the Sale - Leaseback

    This webinar provides brokers, bankers, developers, CFOs and real estate executives with a blueprint for accessing the many facets of the sale-leaseback model.

Blogs

  • Green Shoots


  • BlackSwan


  • Traffic Court

Marketplace Ads