Hodges & Davis 8700 Broadway 11,856 SF 100% Leased Office Building Merrillville, IN 46410 $2,625,368 CAD ($221.44 CAD/SF) 9% Cap Rate

The asset is a single tenant net leased property owned and leased by the Hodges & Davis Law Firm. The building is a well-built and maintained office building located in the heart of the Merrillville medical and general office market. The property is conveniently located within 5 minutes of the I-65/US 30 interchange and is located within close proximity to Northwest Indiana's largest retail trade area. There are two sub-tenants in the property currently.
The building was a build to suit by the partners of the law firm in 1994 and they have occupied the building since. There is currently a sublease in place for 1,700 SF to Greater Indiana Title Company.
The law firm was originally formed in 1906 by William F. Hodges and Claude V. Ridgely and originally located in Gary, Indiana. The firm changed its name to Hodges and Davis in 1927, after Herschel Davis, a preeminent lawyer, became a partner. The firm continued to grow, and in 1970 the practice moved to Merrillville, Indiana. Ten years later, a steadily growing client list led Hodges and Davis to open an office in Porter County. Throughout its history, the Hodges and Davis employee roster has included a President of the Indiana State Bar Association, a Colonel in the U.S. Air Force, a United States Attorney, an adjunct professor at Valparaiso University School of Law, and a Deputy Attorney General.