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BROAD

RIPPLE

TOWER

OFFERING MEMORANDUM

NON-ENDORSEMENTAND DISCLAIMER NOTICE

NON-ENDORSEMENTSMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package.

The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said

corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and

is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

DISCLAIMERTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express

or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and

bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017

Marcus & Millichap. All rights reserved.

BROAD RIPPLE TOWERMulti-Tenant Professional Office

JOSEPH DISALVO

First Vice President Investments

Indianapolis, Indiana

Office (317) 218-5334

Cell (317) 410-8788

[email protected]

License IN: RB14051407

TYLER SHIRLEY

Director of Operations


Office (317) 218-5335

Cell (765) 860-8970

[email protected]

EVAN DAVIES

Financial Analyst


Office (317) 218-5348

Cell (317) 270-8862

[email protected]

PRESENTED BY

O F F I C E S N A T I O N W I D E A N D T H R O U G H O U T C A N A D A

WWW.MARCUSMILLICHAP.COM

ALEX NULF

Associate


Office (317) 218-5331

Cell (574) 377-0630

[email protected]

License IN: RB14052113

mailto:[email protected]



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BROAD RIPPLE TOWER

6100 N Keystone Avenue

Indianapolis, IN 46220

07PROPERTY ANALYSIS 19FINACIAL ANALYSIS

SECTION 1

Executive Summary • Investment Overview •

Photos • Property Details

SECTION 2

Operating Statement • Tenant Summary • Sales /

Lease Comparables

TABLE OF CONTENTS

PRESENTED BY

BROAD RIPPLE TOWERM U L T I - T E N A N T P R O F E S S I O N A L O F F I C E

29MARKET OVERVIEWSECTION 3

Market Overview • Economy • Demographics

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the

information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-

sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate

Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000

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ANALYSIS

BROAD RIPPLE TOWER

OFFERING HIGHLIGHTS

BROAD RIPPLE TOWERMULTI-TENANT PROFESSIONAL OFFICE

6100 N Keystone Avenue, Indianapolis, IN 46220

OFFERING PRICE

$7,300,000CAP RATE

10.01%

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VITAL DATA

Price $7,300,000

Cap Rate 10.01%

Price/SF $93.33

Rentable Building Area 78,220 SF

Occupancy 91.80%

Net Operating Income $730,838

BROAD RIPPLE TOWERMulti-Tenant Professional Office

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PROPERTY OVERVIEW

The DiSalvo Group of Marcus & Millichap, as exclusive advisor, is pleased to present to the market the Broad Ripple Tower, a rare multi-tenant, value-add office

opportunity situated in the heart of Indianapolis. The Broad Ripple Tower is strategically located at 6100 North Keystone Avenue, one of the most trafficked

Indianapolis corridors - at the East 62nd Street intersection, directly across from the Glendale Town Center and benefits from daily traffic counts exceeding 42,000

vehicles per day. The Kite Realty-owned Glendale Town Center, also known as the Glendale Mall, is a 724,026 square-foot retail power center featuring anchor

tenants such as Macys, Lowes, Target, Macys, Staples, and Landmark Theatres.

The Broad Ripple Tower is located at 6100 North Keystone Avenue, sharing a parking lot with Goodwill, KFC, PNC Bank, and LA Fitness. In addition to the abundance

of anchor retailers in the immediate trade area, The Broad Ripple Tower also benefits from an abundance of restaurant amenities such as Starbucks, Panera Bread,

O’Charleys, Jimmy Johns, Taco Bell, Chick-fil-A, Taco Bell and Buffalo Wild Wings all located within walking distance.

The Broad Ripple Tower is a six-story, 78,220 square-foot professional office center that has benefited from a total renovation over the past twenty-four months of

which includes a brand new roof, resealed and striped parking lot, updated lobby and common areas, and a completely revamped and redesigned exterior that has

driven substantial leasing traffic. The subject property was acquired less than two years ago by the Seller with a three-to-five year plan to complete the improvements,

lease-up the property, and eventually sell or refinance upon stabilization. Timing motivations have since changed, creating an opportunity for an investor to capitalize

on the improvements completed by the Seller, continue the lease-up, and capture the upside for themselves.

PROPERTY OVERVIEW

▪ Brand New Roof and Updated Common Areas Within the Past Two Years

▪ Resealed and Striped Parking Lot and New Facade Completed within the Past

Two Years

▪ Strategically Positioned Across from Glendale Mall | 724,026 SF Retail Power

Center

▪ Densely Populated Trade-Market | Over 215,000 Residents within Five-Mile

Radius

▪ Well-Located Along Keystone Avenue | A Major Indianapolis Corridor | 44,000+

VPD

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BROAD RIPPLE TOWERMulti-Tenant Professional Office B

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PROPERTY DETAILS

The DiSalvo Group of Marcus & Millichap, as exclusive advisor, is pleased to present to the market the Broad Ripple Tower, a rare multi-

tenant, value-add office opportunity situated in the heart of Indianapolis. The Broad Ripple Tower is strategically located at 6100 North

Keystone Avenue, one of the most trafficked Indianapolis corridors - at the East 62nd Street intersection, directly across from the Glendale

Town Center and benefits from daily traffic counts exceeding 42,000 vehicles per day. The Kite Realty-owned Glendale Town Center, also

known as the Glendale Mall, is a 724,026 square-foot retail power center featuring anchor tenants such as Macys, Lowes, Target, Macys,

Staples, and Landmark Theatres.

Broad Ripple Tower

Property Address 6100 N Keystone Avenue

Number of Units 52

Number of Buildings 1

Number of Stories Six (6)

Year Built 1968/2017

Lot Size 2.49 Acres / 108,464 sf

Type of Ownership Fee Simple

Parking 140 Free Surface Spaces / 1.79/1,000 Parking Ratio

Utilities: Water Municipal

Utilities: Electric Municipal

Topography Flat

Major Thoroughfare Access Keystone Avenue

Foundation Concrete Slab

Framing Steel Frame

Exterior Concrete

Parking Surface Asphalt

Roof Rubber Membrane

HVAC Complete Upgrade - 2008

Elevators Two (2).

Life Safety Smoke Detectors and Fire Alarms

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Three CrosswoodsMulti-Tenant Professional Office

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MapRegional

MapLocal





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FINANCIAL

ANALYSIS

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OPERATING STATEMENT

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TENANT SUMMARY

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TENANT SUMMARY

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TENANT SUMMARY

Lease Rollover (By Year) GLA (By Tenant)

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INVESTOR PRO FORMA (ALL-CASH)

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INVESTOR PRO FORMA (WITH FINANCING)

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MARCUS & MILLICHAP CAPITAL

CORPORATION CAPABILITIES

MMCC—our fully integrated, dedicated financing arm—is committed to

providing superior capital market expertise, precisely managed execution,

and unparalleled access to capital sources providing the most competitive

rates and terms.

We leverage our prominent capital market relationships with commercial

banks,

life insurance companies, CMBS, private and public debt/equity funds,

Fannie Mae, Freddie Mac and HUD to provide our clients with the greatest

range of

financing options.

Our dedicated, knowledgeable experts understand the challenges of

financing

and work tirelessly to resolve all potential issues to the benefit of our clients.

National

platform

operating

within the

firm’s

brokerage

offices

$5.1 billion

total national

volume in

2016

Access to

more capital

sources than

any other

firm in the

industry

Optimum financing

solutions to enhance value

Our ability to enhance

buyer pool by expanding

finance options

Our ability to enhance

seller control

• Through buyer

qualification support

• Our ability to manage

buyers finance

expectations

• Ability to monitor and

manage buyer/lender

progress, insuring timely,

predictable closings

• By relying on a world class

set of debt/equity sources

and presenting a tightly

underwritten credit file

WHY MMCC?

Closed 1,651

debt and

equity

financings

in 2016

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OVERVIEW

BROAD RIPPLE TOWER

INDIANAPOLISOVERVIEW

The Indianapolis metro is situated in central Indiana and consists of 11

counties: Marion, Johnson, Hamilton, Boone, Hendricks, Morgan,

Hancock, Shelby, Brown, Putnam and Madison. The metro lacks

formidable development barriers, except for the several rivers and

creeks that traverse the region. Marion County is home to

Indianapolis, the capital city, which contains a population of

approximately 856,000 people. Carmel in Hamilton County is the

second most populous with nearly 90,000 residents. A large portion of

the surrounding counties is rural, offering builders ample land for

residential and commercial development. Population growth is

primarily concentrated to the northern suburbs and west of the city.

METRO HIGHLIGHTS

PREMIER DISTRUBUTION HUB

Around 50 percent of the U.S. population lies within

a one-day drive of Indianapolis, making it a center

for the transportation of goods.

MAJOR HEALTH SCIENCES CENTER

Eli Lilly & Co., Roche Diagnostics Corp. and

Covance Inc. maintain operations in the region,

among other major health-related employers.

LOW COST OF DOING BUSINESS

Indianapolis’ costs are far below national averages,

attracting businesses and residents to the area.

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ECONOMY▪ Indianapolis underwent an economic renaissance during the past two decades, diversifying

from a manufacturing-based economy into a variety of other employment sectors.

▪ The metro is one of the key health-sciences centers in the nation, anchored by several

pharmaceutical and life-sciences companies.

▪ The metro is accessible to a large portion of the nation in one day by ground or air, making

the region a burgeoning logistics and distribution hub.

▪ Annual GMP tops the national level, a trend that is set to persist over the next five years.

SHARE OF 2016 TOTAL EMPLOYMENT

MAJOR AREA EMPLOYERS

Eli Lilly & Co

Indiana University Health

Rolls-Royce Corp.

Community Health

Marsh Supermarkets

Kroger

IUPUI

FedEx

Roche Diagnostics

Finish Line* Forecast

MANUFACTURING

9%GOVERNMENT

HEALTH SERVICES

EDUCATION AND

+OTHER SERVICES

4%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

22%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

2%INFORMATION

15%

5%

13% 10% 6%

15%

BROAD RIPPLE TOWER

DEMOGRAPHICS

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

▪ The metro is expected to add nearly 110,000 people through 2021, which will result

in the formation of nearly 40,000 households, generating demand for housing.

▪ A median home price below the national level has produced a homeownership rate

of 66 percent, which is above the national rate of 64 percent.

▪ Roughly 31 percent of people age 25 and older hold bachelor’s degrees; among

those residents, 11 percent also have earned a graduate or professional degree.

Indianapolis offers residents many big-city amenities in an affordable, small-town

atmosphere. The city is home to several high-profile auto races, including the Indianapolis

500 and Brickyard 400. Races are hosted at the Indianapolis Motor Speedway and the

Lucas Oil Raceway at Indianapolis. The metro has two major league sports teams: the

Indianapolis Colts (NFL) and the Indiana Pacers (NBA). The area also has a vibrant cultural

and arts scene, with more than 200 art galleries and dealers, the Indianapolis Symphony

Orchestra and a variety museums, including the Eiteljorg Museum of American Indians and

Western Art. Additionally, the Children’s Museum of Indianapolis is one of the largest

children’s museums in the world.

36.2

2016MEDIAN AGE:

U.S. Median:

37.7

$53,700

2016 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$54,500

2M

2016POPULATION:

Growth2016-2021*:

5.3%

774K

2016HOUSEHOLDS:

5.6%

Growth2016-2021*:

QUALITY OF LIFE

2016 Population by Age

0-4 YEARS

7%5-19 YEARS

21%20-24 YEARS

7%25-44 YEARS

28%45-64 YEARS

26%65+ YEARS

12%

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s

Analytics; U.S. Census Bureau

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Success of large tech firms provides foundation for the burgeoning industry. More

than 114,000 people are employed in the technology sector in Indiana and the

expansion of the industry is centered in the Indianapolis metro. The success of firms

including Salesforce and Interactive Intelligence is garnering the attention of other

tech businesses that are considering expanding into the market. Salesforce recently

moved into 220,000 square feet in the building now known as Salesforce Tower. The

firm also has plans to add 800 employees and train 500 apprentices over the next five

years. Another growing tech company, Knowledge Services, is planning to build a

new headquarters in Fishers. The firm will complete the facility in 2018 and add 400

positions to the more than 1,100 employees already working in the state.

Office buildings adjusting to attract new tech companies. Lower rent expenses and a

skilled labor force make the region a more affordable alternative to many coastal

markets and operators are changing to accommodate these businesses. Some

operators are modernizing office buildings with open floor plans for collaborative

workspace and adding amenities that attract tech and creative companies. Others

are turning space into shared offices to draw startups.

Tech Sector Expansion Changing

Indianapolis Office Market

INDIANAPOLIS METRO AREA

* Trailing 12 months through 1Q17

Sources: CoStar Group, Inc.; Real Capital Analytics

Investment Trends

Office 2017 Outlook

1.3

million sq.

ft. will be

completed

1.1% increase in

asking rents

10 basis point

decrease in vacancy

Construction:

Rents:

Vacancy:

Deliveries reach an eight-year high during

2017, doubling last year’s 590,000 square

feet. Construction is dispersed throughout

the market

The average asking rent climbs 1.1 percent

to $18.14 per square foot in 2017 following a

2.5 percent hike last year.

More than 1 million square feet of net

absorption will decrease vacancy to 12.3

percent. Vacancy also declined 10 basis

points last year.

• Interest in office assets will remain strong in 2017, limited only by the

availability of quality listings. Lower entry costs and higher cap rates than are

available in many markets will draw a wide range of investors to the metro.

• Properties that can be refurbished with open floor plates, natural lighting and

amenities to attract tech, creative and startup companies will draw buyers to

downtown Indianapolis and the Broad Ripple neighborhood. Investors will

also follow tech companies northward into Hamilton County, where cities

such as Fishers are actively recruiting these firms.

• The sale of medical office properties rose in the last four quarters as more

properties were listed. During this time, assets priced appropriately received

multiple offers at an average price of $184 per square foot. Cap rates begin

in the 6 percent range, with both local and out-of-state buyers active

throughout the market.

BROAD RIPPLE TOWER

• Metrowide, employers

added 18,500 workers to

staffs year over year in

March, including 2,100

office-using positions.

Overall gains were led by

growth in the education and

health services sector.

• A slowdown in hiring can be

partially contributed to a lack

of available workers. The

unemployment rate has

remained below 4 percent

for three consecutive

quarters.

EMPLOYMENT

• Developers delivered

200,700 square feet in the

first quarter of 2017,

raising the 12-month total

to 516,900 square feet.

One year earlier, 805,200

square feet was

completed metrowide.

• The largest building to

open so far this year is

Cummins 164,000-square-

foot distribution

headquarters in the

redeveloping Market East

district in the city of

Indianapolis.

CONSTRUCTION

• The absorption of more

than 1 million square feet

over the last four quarters

reduced the vacancy rate

to 11.7 percent in March.

One year earlier, vacancy

ticked up 30 basis points.

• Demand for office space

in the core has cut

vacancy 140 basis points

to 8.9 percent in the

Downtown submarket

year over year in the first

quarter.

VACANCY

• Tightening vacancy is

pushing rents higher, with

the average asking rent

advancing 2.9 percent to

$17.87 per square foot in

March. During the

previous 12 months, rents

declined 1.3 percent.

• Rents soared 10.4 percent

to $13.46 per square foot

in the Far South Counties

submarket in the last four

quarters. Rents here

remain the lowest among

submarkets.

RENTS


increase in the

average asking

rent Y-O-Y

2.9%basis point

decrease in

vacancy Y-O-Y

70square feet

completed

Y-O-Y

516,900increase in total

employment Y-O-Y1.8%

* Forecast

YEAR OVER YEAR

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Demographic Highlights

2017 FORECAST

JOB GROWTH

* POPULATION

AGE 20-34

Metro 21%U.S. Average 21%

**SQ. FT. PER OFFICE

WORKER

Metro 301U.S. Average 210

2017 OFFICE-

USING JOB

GROWTH

POPULATION OF

AGE 25+

* PERCENT WITH

BACHELOR

DEGREE+

Metro 31%U.S. Average 29%

37% Urban

63% Suburban

**OFFICE SQUARE FOOTAGE

Investors Broaden Search Area, Moving Farther From Metro Core

Outlook: Local buyers may find value-add

opportunities in small office properties in

growing cities such as Westfield or

Zionsville.

Vacancy

Rate

Y-O-Y

BasisPoint

Change

SubmarketAsking

Rent

Y-O-Y %

Change

Far South Counties 3.8% -260 $13.46 10.4%

Hancock County 5.0% -580 $20.57 -0.2%

East County 5.4% -110 $10.94 6.5%

South County 7.0% -380 $17.79 4.0%

Downtown 8.9% -140 $18.39 1.4%

Far West Counties 10.8% 150 $15.71 2.7%

West County 11.0% -180 $16.10 2.3%

North County 14.7% 400 $19.05 6.6%

Northeast County 15.5% -160 $19.15 4.2%

Northwest County 15.5% -70 $17.61 -0.8%

Overall Metro 11.7% -70 $17.87 2.9%

Submarket Trends

Lowest Vacancy Rates 1Q17

Sales Trends


• Transaction velocity remained relatively steady over the last four quarters with both

local and out-of-state investors active. Sales activity increased in Hamilton, Hendricks

and Johnson counties during this time.

• Class B and Class C properties were most often targeted at an average price of $94

and $82 per square foot, respectively, year over year in March.

** Trailing 12 months through 1Q17

Pricing trend sources: CoStar Group, Inc.; Real Capital Analytics

* 2017-2022

**1Q17

U.S. Average 1.4%

Metro 1.4%

Metro 1.7%

U.S. Average 2.2%

U.S. Average 32%

U.S. Average 68%

BROAD RIPPLE TOWER

• Monetary policy in transition. Despite the Fed raising its benchmark short-term rate three

times in seven months and signaling another rise before the end of the year, long-term rates

have remained stable. The yield on the 10-year U.S. Treasury bond remained in the low- to

mid-2 percent range throughout the second quarter of 2017. The Federal Reserve wants to

normalize monetary policy and, in addition to rate hikes, will start paring its balance sheet.

While short- and long-term rates do not always move in tandem, both actions by the Fed have

the potential to lift long-term rates.

• Sound economy a balancing act for Fed. With unemployment at the lowest level since 2007

at 4.3 percent, the Federal Reserve will remain vigilant regarding the possible rapid increase

in inflation if wage growth takes off. Additionally, business confidence sits close to its all-time

high. Businesses finally have the confidence to expand their footprint after years of tepid

growth following the Great Recession. Office properties stand to gain significantly from this

expansion with increased hiring adding to occupancy, plus expanding economic growth. The

Fed, however, must now balance economic growth and job creation against wage growth and

inflationary pressures.

• Underwriting discipline persists; ample debt capital remains. Overall, leverage on

acquisition loans has continued to reflect disciplined underwriting, with LTVs typically

ranging from 60 percent to 75 percent for most office properties. At the end of 2016, the

combination of higher rates, conservative lender underwriting and fiscal policy uncertainty

encouraged some investor caution that slowed deal flow, a trend that has extended into

2017. A potential easing of regulations on financial institutions, though, could liberate

additional lending capacity and higher interest rates may also encourage additional lenders

to participate. * Forecast

Sources: CoStar Group, Inc.; Real Capital Analytics


Capital MarketsBR

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PROPERTY NAME

MARKETING TEAM

Source: © 2016 Experian

Created on October 2017

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2021 Projection

Total Population 11,078 73,979 217,362

▪ 2016 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Current Daytime Population

2016 Estimate 11,795 81,917 274,770

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2021 Projection

Total Households 5,615 34,236 95,913

▪ 2016 Estimate


Average (Mean) Household Size 1.97 2.14 2.22

▪ 2010 Census


▪ 2000 Census


HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2016 Estimate

$200,000 or More 4.09% 6.52% 4.17%

$150,000 - $199,999 3.32% 5.44% 3.91%

$100,000 - $149,000 13.44% 12.92% 9.87%

$75,000 - $99,999 13.01% 11.21% 9.81%

$50,000 - $74,999 22.31% 17.69% 16.35%

$35,000 - $49,999 14.29% 14.81% 15.42%

$25,000 - $34,999 11.80% 10.85% 12.11%

$15,000 - $24,999 8.81% 9.78% 12.66%

Under $15,000 7.75% 10.45% 14.32%

Average Household Income $75,989 $85,863 $68,839

Median Household Income $55,872 $54,401 $43,777

Per Capita Income $38,624 $39,882 $30,403

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population By Age

2016 Estimate Total Population 11,063 74,316 217,092

Under 20 16.89% 21.00% 23.84%

20 to 34 Years 35.34% 25.53% 25.46%

35 to 39 Years 8.25% 6.54% 6.05%

40 to 49 Years 11.25% 11.91% 11.62%

50 to 64 Years 15.81% 20.71% 19.38%

Age 65+ 12.47% 14.33% 13.67%

Median Age 34.04 37.54 35.53

▪ Population 25+ by Education Level

2016 Estimate Population Age 25+ 8,408 53,721 147,822

Elementary (0-8) 1.81% 1.61% 2.36%

Some High School (9-11) 3.37% 4.59% 7.82%

High School Graduate (12) 13.18% 16.50% 23.07%

Some College (13-15) 13.71% 17.62% 20.48%

Associate Degree Only 6.00% 5.32% 6.35%

Bachelors Degree Only 40.88% 32.28% 24.54%

Graduate Degree 20.62% 21.35% 14.47%

PROPERTY NAME

MARKETING TEAM


Created on October 2017

POPULATION BY

TRANSPORTATION TO WORK1 Miles 3 Miles 5 Miles

▪ 2016 Estimate Total Population

Bicycle 0.79% 0.70% 0.41%

Bus or Trolley Bus 0.54% 1.21% 2.33%

Carpooled 3.84% 7.29% 8.97%

Drove Alone 88.92% 83.40% 81.29%

Ferryboat 0.00% 0.00% 0.00%

Motorcycle 0.00% 0.03% 0.05%

Other Means 0.15% 0.40% 0.92%

Railroad 0.00% 0.00% 0.00%

Streetcar or Trolley Car 0.00% 0.00% 0.01%

Subway or Elevated 0.09% 0.01% 0.01%

Taxicab 0.00% 0.20% 0.11%

Walked 1.71% 1.72% 2.00%

Worked at Home 3.96% 5.02% 3.91%

POPULATION BY TRAVEL TIME TO

WORK1 Miles 3 Miles 5 Miles

▪ 2016 Estimate Total Population

Under 15 Minutes 20.80% 21.51% 23.30%

15 - 29 Minutes 52.76% 51.21% 48.15%

30 - 59 Minutes 18.40% 18.46% 20.04%

60 - 89 Minutes 1.20% 1.37% 2.00%

90 or More Minutes 1.08% 1.28% 1.45%

Worked at Home 3.96% 5.02% 3.91%

Average Travel Time in Minutes 23 24 24

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Income

In 2016, the median household income for your selected geography is

$54,401, compare this to the US average which is currently $54,505.

The median household income for your area has changed by 7.24%

since 2000. It is estimated that the median household income in your

area will be $64,305 five years from now, which represents a change

of 18.21% from the current year.

The current year per capita income in your area is $39,882, compare

this to the US average, which is $29,962. The current year average

household income in your area is $85,863, compare this to the US

average which is $78,425.

Population

In 2016, the population in your selected geography is 74,316. The

population has changed by -0.82% since 2000. It is estimated that

the population in your area will be 73,979.00 five years from now,

which represents a change of -0.45% from the current year. The

current population is 47.45% male and 52.55% female. The median

age of the population in your area is 37.54, compare this to the US

average which is 37.68. The population density in your area is

2,624.56 people per square mile.

Households

There are currently 34,268 households in your selected geography.

The number of households has changed by 1.04% since 2000. It is

estimated that the number of households in your area will be 34,236

five years from now, which represents a change of -0.09% from the

current year. The average household size in your area is 2.14 persons.

Employment

In 2016, there are 35,143 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

74.73% of employees are employed in white-collar occupations in

this geography, and 25.36% are employed in blue-collar occupations.

In 2016, unemployment in this area is 3.46%. In 2000, the average

time traveled to work was 24.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

68.24% White, 26.05% Black, 0.01% Native American and 1.63%

Asian/Pacific Islander. Compare these to US averages which are:

70.77% White, 12.80% Black, 0.19% Native American and 5.36%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 3.02% of the current year

population in your selected area. Compare this to the US average of

17.65%.

PROPERTY NAME

MARKETING TEAM

Housing

The median housing value in your area was $173,065 in 2016,

compare this to the US average of $187,181. In 2000, there were

22,172 owner occupied housing units in your area and there were

11,742 renter occupied housing units in your area. The median rent at

the time was $571.


www.MarcusMillichap.com

Joseph DiSalvo

First Vice President Investments

Director - National Office and Industrial Properties Group

Indianapolis Office

Tel: (317) 218-5334

Fax: (317) 218-5310

[email protected]

License: IN RB14051407

P R E S E N T E D B Y

Alex Nulf

Associate

National Office and Industrial Properties Group

Indianapolis Office

Tel: (317) 218-5331

Fax: (317) 218-5310

[email protected]

License: IN RB14052113

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