Marcus & Millichap recently closed the sale of a 34,704-square foot property located in Crown Point, IN and net-leased to the State of Indiana. Investment specialists Mitchell Kiven and Nicholas Kanich from Marcus & Millichap’s Chicago Downtown office marketed the asset on behalf of its seller – a partnership – securing an LLC as buyer. Josh Caruana, Regional Manager and Broker at Marcus & Millichap assisted in closing this transaction for $7 million.
The property is situated near I-65 which connects Chicago with Indianapolis; it is surrounded by new development making it attractive to buyers looking for net lease assets with strong fundamentals such as recent renewals with minimal landlord concessions. According to Kanick “Net lease assets have continued to stay in favor even during today’s environment.”
