Keystone Group has acquired two industrial buildings in Carmel along the Monon Greenway.
The Indianapolis-based developer did not disclose the purchase price for the buildings, known as Gradle 1 and Gradle 2. They are bounded by 3rd Ave. SW to the west, the Monon Greenway to the east and the Center for the Performing Arts to the north. The buildings had been owned by the Gradle family since 1976.
“We do not have immediate plans for redevelopment, but we will work with our tenants and the City of Carmel to make sure the use is complementary to the city’s vision for the area,” stated Jennifer Pavlik, Keystone Group senior vice president and chief of staff.
Existing tenants include Edge Guys Heating and Cooling, Bonzi Sports, Carmel Countertops, Autoshine Indy and others. The buildings do not have any vacancies.
Keystone owns and manages Sophia Square, a mixed-use building in the center of the Arts & Design District it redeveloped nearly 15 years ago.