Commercial Office Healthcare Real Estate
Shadeland Station Portfolio
Cornerstone Companies recently acquired a $26.8M portfolio of commercial office assets, encompassing over 334,000 square feet on the Northeast side of Indianapolis. The acquisition was a part of an overall strategic plan to establish a corporate campus for Community Health Network (“CHN”) near their flagship North Hospital. As a trusted real estate partner to CHN, Cornerstone worked open-book to aggregate and redevelop nearly 145,000 square feet across 3 buildings centrally located in the office park. The transaction provided for multi-million-dollar improvements to each of the 3 buildings, one of which is undergoing a complete gut-renovation. The buildings will house CHN’s executive operations, HR, IT and Foundation, amongst other administrative functions.
Cornerstone’s partnership-based approach to real estate made this solution possible. The nearly year-long project was a combined effort amongst all of Cornerstone’s service lines, Community Health Network, local brokers and various capital markets players. The teams worked together to deliver a solution that offered CHN a long-term home with flexibility and growth options. In addition, Cornerstone will continue to lease and manage the majority of the office park whose tenants are comprised of various medical and general office users.