Aug
29
Premier Indy Office Campus Fetches $163M
ByA joint venture between Rubenstein Partners and Strategic Capital Partners acquired the asset from Duke Realty Corp.
Parkwood Crossing, Indianapolis
Indianapolis—Parkwood Crossing, a premier office campus in Indianapolis, has changed hands in a transaction valued at $163 million. Duke Realty Corp. sold the 1.2 million-square-foot property to a joint venture of Rubenstein Partners and Strategic Capital Partners, with commercial real estate services firm JLL providing a helping hand to both seller and buyer.
Duke tapped JLL to market the eight-building complex as part of its portfolio repositioning program—the REIT is getting out of the suburban office business and focusing on the industrial and medical office sectors. But Duke’s non-core asset is another investor’s core-property conquest…
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