Capital Center_Property for Sale
Capital Center_Property for Sale
251 N Illinois St, Indianapolis, IN, 46204-1927, US

Capital Center

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) as the exclusive advisor, presents the opportunity to acquire the 100% fee simple interest in Capital Center (the “Property” or “Opportunity”), a class A office complex consisting of two towers at 201 and 251 North Illinois Street in the Indianapolis CBD. Originally built in 1986 and spanning nearly 656,000 square feet, the 17 story North Tower and 22 story South Tower are connected by a glass atrium. With nearly 7.5 years of remaining term and 61% occupancy, Capital Center provides in-place cash flow with immediate upside through leasing of approximately 199,000 square feet. Located in the heart of the Indianapolis CBD steps away from Monument Circle, Capital Center’s location boasts unrivaled views and transportation advantages, conveniently linking the Property to talent in both the city center and suburbs. With nearly $18 million of invested and committed capital since 2018, ownership has meticulously maintained and transformed the Property, modernizing building systems and developing amenities. Paired with an amenity set that is unrivaled by comparable assets in the Indianapolis market, Capital Center offers investors the exceptionally rare opportunity to create value through lease up. All inquiries regarding this value-add office asset should be directed to JLL.

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Attributes

Building area net
60,923 m²
Occupancy
61%
Year built
1986
WAULT
7.5 years
Parking spaces
525

Media

Investment Highlights

  • Accretive Financing Available  
  • Durable In-Place Cash Flow With Upside
  • Largest Market Share of Indianapolis CBD Leasing Activity Since 2021
  • State-of-the-Art Trophy Design with Transformative Lobby & Amenity Renovations
  • Central Indianapolis CBD Location
  • Opportunity to Acquire Asset at Substantial Discount to Replacement Cost 


Capital Center 4_Property for Sale
Capital Center 4_Property for Sale

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Capital Center (0 Properties)

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Last updated
11 Mar 2024