CBRE has announced the successful sale of 451 Lebanon, a newly constructed luxury apartment building located in Lebanon, Indiana. The high-end property was acquired by investor Sean Gallagher for $7.6 million from Iron Men Properties as an investment opportunity.
The marketing campaign and negotiations were led by CBRE’s Indianapolis-based team consisting of Cam Benz, George Tikijian, Hannah Ott, Claire Bullard and Ryan Stockamp. Additionally, CBRE facilitated the buyer’s acquisition.
According to Mr. Benz: “There was significant interest among buyers due to the property being top-quality new construction situated in downtown Lebanon.” He also noted that the area is experiencing growth thanks to developments such as LEAP District and Eli Lilly’s $6 billion investment. The new owner is enthusiastic about future developments in this market and will maintain a high level of operation for this property.
This announcement marks another successful transaction arranged by CBRE without mentioning specific locations or divisions within their company.
