Equus Capital Partners, Ltd. in June announced the sale of Keystone at the Crossing, a 1.054-million-square-foot, six-building Class-A office campus on 27 acres in Indianapolis.
The campus, originally acquired in 2005 on behalf of BPG Investment Partnership VII and VII A, L.P., a fully discretionary fund managed by Equus, was sold to a joint venture between a fund managed by DRA Advisors, LLC and M&J Wilkow Properties, LLC and was 83 percent occupied at the time of sale.
Kenneth Glomb and Stephen Livaditis of Eastdil Secured represented both the seller and buyer in the transaction.
The Keystone at the Crossing is a suburban live/work/play environment, offering tenants a mixed-use business park in a suburban atmosphere with all of features of a major downtown location. Developed between 1975 and 1988, the campus underwent more than $20 million in capital improvements, maintaining its Class-A stature and competitive edge.
In addition to lobby, lounge and amenity upgrades, substantial capital was invested in restrooms, corridors, elevator modernizations, new roofs and other system upgrades.
The campus amenities exclusively for tenant use include outdoor tenant lounge areas with various games such as bocce ball, a food truck court with outdoor seating, flexible conference facilities (10-45 person), a 4,000-square-foot fitness center with showers/locker rooms, five indoor tenant lounges with large screen TVs, featuring activities such as foosball, video gaming, ping pong and an on-site café with outdoor seating.
The park also offers a market parking ratio of about four per 1,000 square feet, featuring two structured garages and surface lots adjacent to each building.
In the heart of the office campus is the Class-A+ shopping center known as The Fashion Mall at Keystone, A Simon Mall, which is an epicenter to affluent shoppers from Indianapolis and beyond who enjoy the continuous infrastructure of new development in retail, residential, hospitality, dining and entertainment options which are all conveniently accessible to its tenants.
Keystone at the Crossing offers unparalleled access to and visibility from I-465 which circles downtown Indianapolis and provides direct access to the Indianapolis International Airport.