Bradley Company announced Nov. 18 that its Fort Wayne office recently closed on a $4 million transaction involving the Coventry Professional building at 5640 Coventry Lane in Fort Wayne.
The 28,620-square-foot professional building with Class A office space is 100% occupied by committed long-term tenants, with the largest tenant recently extending its lease for 10 years, according to the Bradley announcement.
Located across Interstate 69 from Lutheran Health Network’s main campus, the building is within walking distance to a number of amenities, including a retail corridor. More than 30,000 people live within a 5-mile radius in one of the highest median income areas of northeast Indiana, according to Bradley.
Bradley’s Bill Drinkall represented both the buyer and the seller in the transaction. Drinkall was familiar with the property, having served as a broker on the sale to an out-of-state investment group five years ago. The buyer, who was not disclosed, is local to the market.
Drinkall serves as vice president of brokerage for the Fort Wayne market. He has extensive experience in investment transactions in both Indiana and Ohio.
“Bill’s deep understanding of this market is a key asset for our clients and our regional team,” said Brad Toothaker, president and CEO, Bradley Company. “At the same time, this transaction underscores the diversity of experience in our office, with our brokers representing all product types, ranging from retail to office and industrial. Importantly, it also demonstrates how Fort Wayne continues to attract investment in commercial real estate, given our strategic location, favorable economic climate, and growth profile.”