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Next Realty makes second acquisition in Indianapolis market in last 10 months

An affiliate of Next Realty, LLC has acquired Westridge Office Park, an office/medical complex of two single-story buildings at 6791 and 6845 E. US Highway 36, in Avon, Indiana. Avon is in the Indianapolis market.

Terms of the transaction, made on behalf of Next Realty Fund IX, LP, were not disclosed.

This acquisition is the 12th and final acquisition made on behalf of Next Realty Fund IX, LP. It furthers the firm’s Multi-Solution™ strategy that emphasizes diversification across geography, asset classes and revenue streams.  It is the second acquisition made by the firm in the Indianapolis MSA in the last 10 months, and the fifth acquisition it has made since the end of 2020.

Westridge Office Park is a 39,000-square-foot asset that primarily caters to medical related space users as well as traditional office tenants. Tenants of Westridge Office Park include:

  • Indiana University Health Care Associates, Inc.
  • Indiana Department of Child Services
  • Kindred Hospice
  • Midwest Behavioral Health, LLC
  • Allergy Partners
  • St. Vincent Medical Group, Inc.

Located in Avon, a western suburb of Indianapolis, Westridge benefits from a strategic location five miles from two regional hospitals, Indiana University Health West Hospital and Hendricks County Regional Hospital. This location furthers the asset’s appeal to medical and related space users.

Westridge is about 15 miles west of downtown and 10 miles from the Indianapolis International Airport. Benefiting from unobstructed visibility with over 31,000 vehicles a day, the property offers both tenants and guests clear visibility and signage along with traffic-light access.