Net-Leased Government Offices Change Hands in Crown Point

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Chicago & Midwest  + Greater Chicagoland  + Net Lease  |  June 2, 2023

The property was sold and net-leased to the state of Indiana. The asset was sold for seven million dollars.

The property was sold on behalf of the seller by Kiven and Kanich. Josh was the Regional Manager and Broker.

There is a property on Georgia St. It is located near the interstate connecting Chicago and Indianapolis.

The buyer was identified quickly through the team's initial marketing efforts, and closed quickly without any price adjustments. Net lease assets with strong fundamentals, especially recent renewals with minimal landlord concessions, have remained in favor in today's environment.

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).