190 e ellis road bloomington, in 47404...this marketing brochure has been provided as a preliminary...

190 E Ellis RoadBloomington, IN 47404

Offering Memorandum


Prepared exclusively for client of Jeff Brawley. Weichert, Realtors® - The Owens Group, © 08/18

DISCLAIMER AND CONFIDENTIALITY NOTICEThis marketing brochure has been provided as a preliminary summary only and may contain assumptions that do not reflect thecurrent status of the property or any changes that may have taken place since the brochure was produced. The information containedherein has been taken from secondary and other sources, and Weichert Realtors® - The Owens Group makes no warrantee withrespect to the completeness or accurateness of the data or conclusions, including income or expenses, projected financialperformance, size and square footage, environmental issues, physical condition, or plans of any existing or prospective tenants, for thesubject property and/or comparables referenced, and the contents are not a substitute for due diligence investigation on the part ofany interested party.

The information contained in this marketing brochure is proprietary and confidential. It is intended solely for the party to which is wasexpressly given by a Weichert Realtors® - The Owens Group agent and is considered proprietary and confidential in nature. Therecipient agrees to hold in confidence all information provided herein, with the exception of any publicly available information, and willnot disclose its contents in any fashion or provide it or copies of it, in whole or in part, to any other entity.

The owner and representative agent each reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the property and/or to terminate discussions with any entity at any time without notice, and neither has any commitment or obligations to any recipient of this marketing brochure.

Weichert, Realtors® is a federally registered trademark owned by Weichert Co.Weichert, Realtors® - The Owens Group is independently owned and operated.

All property showings are by appointment only. Consult your Weichert, Realtors® - The Owens Group agent for details.



ALSO AVAILABLE FOR LEASEPROPOSED NET LEASE STRUCTURE RENTABLE AREA: 36,084 total; divisibleTERM: 5+ Years OPTION PERIODS: Negotiable EXPENSES: NNN or negotiable if divided

EXECUTIVE SUMMARY

HIGHLIGHTS

• Corporate office building• Over 36,000 square feet • Divisible into multi-tenant property• Various use options including institutional, school, headquarters

office, smaller offices, service, large retail/display, etc.• Easy access to Bloomington and Indianapolis• Located right off Interstate 69 • Excellent owner-occupied property or investment• Also available for lease as is or divided



PROPERTY DESCRIPTION

AERIAL

PROPERTY DETAILS

Address: 190 E Ellis Road

Bloomington, IN 47404

Building Type: Corporate office

Gross Building Area: 36,084

Net Rentable Area: 36,084

Stories: Two

Year Built: 1972

Condition: Good

Heat/Air: Building-wide boiler system/central

Finishing: Executive quality- dated

Land Size (acres): 3.57

Zoning: IP- Institutional Public, county designation

Parking: 100+ spaces

Other: See grid for breakdown of unit descriptions

AERIAL

LOCATION



PROPERTY PHOTOGRAPHS



MARKET INFLUENCES

2010 159,549

2015 165,577 3.6% growth

2020 172,698 4.1% growth

2015 42,588

2016 42,213 -0.9% growth

2017 49,695 15.1% growth

23.5Bloomington's age statistics are skewed downward by

the large student population.

84,067

Current City Population

INDIANA UNIVERSITY

POPULATION

BLOOMINGTON MSA

Current Bloomington Enrollment

49,695 with 35% living on campus

Median Age

Median Home Value $197,897

Land Appreciation Rates 2% - 6%

Owner Occupied Housing 34%

Renter Occupied Housing 66%

Median Rent city wide $916

Median Rent downtown $1,592

Rental Vacancy Rate city wide 4.4%

Rental Vacancy Rate downtown 1.0%

REAL ESTATE

Landmark Medical Center

General Electric

Indiana University

Bexter Bio Pharma Solutions

Internal Medicine Associates

Stone Belt

MAJOR EMPLOYERS

Indiana University- Bloomington

IU Health Bloomington

Cook Group, Inc.

IU Health Bloomington Hospital

ABOUT BLOOMINGTONBloomington, Indiana is a true university town tucked into therolling hills of southern Indiana, only one hour south of theState’s capital, Indianapolis. Bloomington features the Big 10campus of Indiana University in the heart of the city,connected by blocks of vibrant shops, restaurants, andnightlife to a certified Main Street town square with abeautiful courthouse at the center. Bloomington has theconvenience and lifestyle of a small town with all theamenities of thriving hub for cultural and business. The city isin the midst of a redevelopment boom with the majority ofthe downtown projects consisting of mixed use structures withcommercial on street level and residential use above. Largelysheltered from economic factors that negatively impact manylarge metros, Bloomington has attracted the attention ofnational developers and investors, and the market is ripe forcontinued growth.

National 4.2%

Indiana 3.8%

Bloomington 4.2%

2015 1361

2016 1391 2.2% growth

2017 YTD 1636 15.0% growth

Bloomington MSA State (IN)

2013 $49,503 $45,015

2014 $45,015 $49,503

2015 $44,376 $50,532

BUILDING PERMITS

NOVEMBER 2017

UNEMPLOYMENT

MEDIAN HOUSEHOLD

Bloomington's income statistics are skewed downward

by the large number of student households.

Current Bloomington City Median

$28,660

MONROE COUNTY

INCOME



COMPARABLE DATA- SALES

SUBJECT SALE #1 SALE #2 SALE #3

Address: 190 E Ellis Road Address: 2182 W Industrial Dr. Address: 205 E Southway Blvd. Address: 101 E Carmel Drive

Bloomington, IN 47404 Bloomington, IN 47404 Kokomo, IN 46902 Carmel, IN 46032

Description/Use: Corporate office Description/Use: Office, former school Description/Use: Office Description/Use: Corporate office

Gross Building Area: 36,084 Gross Building Area: 35,000 Gross Building Area: 37,575 Gross Building Area: 27,239

Year Built: 1972 Year Built: 1983 Year Built: 1974 Year Built: 1975

Lot Size: 3.57 Lot Size: 5.44 Lot Size: 2..4 Lot Size: 2.26

Price: $1,200,000 Price: $1,600,000 Price: $1,300,000 Price: $2,100,000

Price/SF GBA: $33.26 Price/SF GBA: $45.71 Price/SF GBA: $34.60 Price/SF GBA: $77.10

Sale Date: 10/26/2015 Sale Date: 5/12/2017 Sale Date: 7/20/2017

Comments: Similar. Comments: Inferior finishing. Comments: Similar finish. Superior

location.



COMPARABLE MAP- SALES



COMPARABLE DATA- RENTS

SUBJECT COMPARABLE #1 COMPARABLE #2 COMPARABLE #3

Address: 190 E Ellis Road Address: 1801 S Liberty Dr. Address: 1145 Sunrise Greetings Ct. Address: 3963 W Vernal Pk.

Bloomington, IN 47404 Bloomington, IN 47404 Bloomington, IN 47404 Bloomington, IN 47404

Description/Use: Office Description/Use: Office Description/Use: Office Description/Use: Office

Year Built: 1972 Year Built: 2006 Year Built: 1981 Year Built: 1980

Occupancy: Vacant Occupancy: Vacant- active listing Occupancy: Vacant- active listing Occupancy: Vacant- active listing

Net Leasable Area: 36,084 Net Leasable Area: 40,000 Net Leasable Area: 27,000 Net Leasable Area: 19,200

Layout/Finish: Corporate/HQ Layout/Finish: Corporate/HQ Layout/Finish: Corporate/HQ Layout/Finish: Corporate/HQ

Rate: $8.00 Rate: $10.00 Rate: $12.00 Rate: $13.00

Parking: Adequate onsite Parking: Adequate onsite Parking: Adequate onsite Parking: Adequate onsite

Lease Type: NNN Lease Type: NNN Lease Type: NNN Lease Type: Gross

Comments: Similar. Comments: Inferior quality. Comments: Inferior quality.



COMPARABLE MAP- RENTS



ABOUT US

Experience Matters

JEFF BRAWLEYUpon graduating Indiana University in 1994 Jeff Brawley spent 20 + focused years developing the Brawley brandof excellence in the Bloomington real estate market. As founder of The Brawley Group, owner/managing partnerin Weichert Blooomington, and founding member of Central Indiana Development Group Jeff has anunparalleled understanding of Bloomington. His performance history in acquiring and managing a studentrental portfolio valued at over $20M, his deep and accomplished network of experts, and the executive levelresources he has created have earned him the title of 'The Bloomington Real Estate Expert'. Jeff's vision,humble approach, and get it done mindset deliver superior results to investors and partners on a daily basis.

1401 S. Walnut St., Bloomington , IN 47401 | 812-336-6888 | [email protected]

[email protected], Realtors® - The Owens Group Independently Owned and Operated

Weichert Values

Our company is a part of Weichert Real Estate Affiliates, Inc. We are locally owned, but as a Weichert Affiliate we are part of one ofthe leading real estate service companies in America and have access to their exclusive tools and systems, so we can take greatcare of our clients.

mailto:[email protected]

190 e ellis road bloomington, in 47404...this marketing brochure has been provided as a preliminary...

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