Chicago, IL (June 18, 2018) – Echo Development Group, Inc. announces it has acquired a two-building medical office portfolio located at 747 E. County Line, and 965 Emerson Parkway in Greenwood, IN. The 88,000+ square foot portfolio sold for approximately $21,000,000 and is currently leased to an assortment of healthcare providers including Franciscan Alliance, Indiana Spine Group, Premier Family Medicine, Greenwood Orthopaedics, ProScan Imaging and Lanter Eye Care. The seller was a local development company based out of Indianapolis.
“We are believers in the healthcare asset class and its ability to provide strong risk adjusted returns for us and our investors,” said Jon Boyajian, Principal of Echo Development Group. “These properties allow us to achieve immediate scale in a great submarket of Indianapolis and feature incredible visibility, access, and convenience for both patients and providers. These site attributes are critical for the success of off-campus healthcare facilities and are an important part of our acquisition criteria” Mr. Boyajian explained.
Echo Development Group, Inc. (www.echodg.com) is an acquisition and development firm based in Chicago, IL. Echo’s primary focus is healthcare, industrial, and retail assets as well as programmatic build-to-suit development. The firm provides nationwide turnkey real estate development services, specializing in build-to-suit development, design/build contracting, construction management, sale/leasebacks, and capital markets advisory services.