January 17, 2018
Indianapolis-based Strategic Capital Partners, LLC and partner, Philadelphia-based Rubenstein Partners, L.P., acquired the Precedent Office Park in Indianapolis’ Keystone Crossing submarket from Chicago-based LaSalle Investment Management for $132.7 million. Situated on a 184-acre campus, the property consists of 19 buildings totaling 1.1 million square feet.
The park is located at Keystone Avenue and East 96th Street. Precedent Office Park includes a mix of office product including single-story, two-story and multi-story buildings positioned around a 38-acre central lake.
Rubenstein Partners’ Brandon Huffman says, “This investment offers a unique opportunity to acquire a low density office campus located at a strategic “main and main” location.”
It is the second suburban Indianapolis office campus acquired by the two companies within the past 18 months, following the acquisition of Parkwood Crossing in August 2016. The combined campuses total 27 buildings and more than 2.3 million square feet.
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