Farmington Hills, Michigan (December 10, 2012)- Friedman Integrated Real Estate Solutions, a Midwest leader in commercial real estate services, announced that it has successfully negotiated the sale of the Parkstone Office Center, a four-building, 200,000 SF office complex located in Indianapolis, Indiana. Barry Swatsenbarg, Director of Investment Sales at Friedman Integrated Real Estate Solutions represented the seller in the transaction.
Located in Indianapolis’ College Park submarket, in close proximity to the I-465 and N. Michigan Road interchange, Parkstone Office Center features a distinct “X” pattern, sharing a central courtyard adjoining each property. Acquired in 2007, the center underwent an aggressive rehabilitation program under the stewardship of Friedman’s management division, resulting in a successful 30% increase in occupancy rates.
“The Indianapolis market continues to be a desirable location for investors and one of the key selling points of this property to investors was its strong, well-performing tenants and solid demographics,” stated Swatsenbarg. “We are pleased to have had the opportunity to apply our proven track record of success to assist with this asset and look forward to future opportunities in the Indianapolis market.”
ABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
Friedman Integrated Real Estate Solutions is one of the Midwest’s largest commercial real estate organizations. Friedman offers a full range of services that include: commercial brokerage, property and asset management, investment and loan sale advisory, turnaround management and receivership, space planning and design, construction and project management, graphic design and marketing in addition to a vast array of advisory services. We provide our clients with a single point of contact for the entire range of services we offer.
Friedman represents banks, special servicers, institutions, property owners, national and regional retailers, and commercial tenants in every size range. Friedman manages over 140 facilities encompassing more than 16MSF of commercial and multi-family properties throughout the country.
As owners and managers of commercial property for 25 years, Friedman understands what it takes to achieve results that maximize the client’s objectives.