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Philly’s BPG Properties Pays $3.75M for Office/Warehouse Building in Carmel, Ind.

CARMEL, IND.—An affiliate of Philadelphia, Pa.-based BPG Properties Ltd. Has acquired 4400 West 96th Street in Carmel, Ind. For $3.75 million. The 97,323-sq.-ft., Class A office/warehouse complex is the third acquisition BPG has made in the Indianapolis metro region. The property had been owned by a joint venture managed by a publicly traded REIT.

Prior to closing BPG negotiated a lease with Indianapolis-based Bell Techlogix Inc. (Bell) for 53,885 sq. ft., representing the entire two-story office portion and some of the warehouse area.

The seller was represented in the transaction by Jake Sturman and Adam Broderick of Jones Lang LaSalle who also represented the buyer with the successful lease negotiation for Bell Techlogix, Inc. Bell was represented by Jeff Harris of NAI Meridian.

Bell, a provider of information technology services, plans to add 204 jobs by 2016 as part of its expansion and will relocate and expand its corporate headquarters and service delivery center in November.

“The 96th Street facility offers a perfect centralized location and ideal facility space for our corporate headquarters and service delivery center of excellence,” said Clinton Coleman, chief executive officer of Bell. “This state-of-the-art facility will serve as the heart of our best-in-class delivery and support model for our end user computing, infrastructure management, enterprise mobility management and IT lifecycle service offerings to clients across the United States.”

Constructed in 1998, 4400 West 96th Street is situated on 8.13 acres and includes a 5.8 acre adjacent land parcel. The warehouse portion of the building features climate control, 24-ft. clear heights, 40-ft. x 40-ft. column spacing, five loading docks, one straight bed dock and one drive-in door.

Located northwest of the intersection of Interstate 465 and N. Michigan Road, the property offers access to the freeway and is easily accessible from all parts of the metro area.

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