MERRILLVILLE- Bradley Company announced that their Merrillville office aided in the sale of a three-story, 55,731 square foot office building located at 6111 Harrison Street. Bradley Company listing brokers Ross Brown, Steve and Jim Nicksic, teamed up with Ted Buenger from CBRE to represent the Seller while Joshua Lybolt from Prime Real Estate represented DW Rentals. The parties successfully navigated the CMBS debt assumption process. DW Rentals is a seasoned Real Estate Investor new to the office sector.
Formerly known as Ross Clinic, the investment filled a need when fifty doctors came together in 1963 to build the very first medical clinic to serve the growing community that was to become Merrillville. By 2001 the property was sold to Aegis Properties Corporation who spent around $1,500,000 in redevelopment. The company transformed the building’s fixed medical office suites into flexible office spaces. With service-oriented on-site management, timely maintenance and strategic capital investments, the company was able to beat the market maintaining occupancies consistently north of 90% with 40+ tenants, demonstrating that even a 50+ year old property can be a high performing investment.
This well-maintained office is located on the north side of Merrillville at 61st Street and Harrison. It is one mile west of the 61st street intersection with I-65. The property is also less than an hour away from Chicago, the third largest city in the United States.
“Through excellent execution and insightful management practices investors can find ways to bring value and deliver solid returns even in aging market places”. – Steve Nicksic, CCIM