Department of Child Services (DCS) 4160 N Keystone Ave

The Ficke Team of Colliers is pleased to exclusively represent for sale this single-tenant, fee simple, 100% occupied property leased to the State of Indiana Department of Child Services (DCS) located at 4160 N. Keystone Ave., Indianapolis, IN 46205. The state of Indiana enjoys a AAA S&P credit rating.
This was a build-to-suit in 2007 to the specifications of the Department of Child Services. The government renewed the lease effective April 2, 2024, for 10-years, forty-eight (48) months firm, expiring March 31, 2034, and includes one four (4)-year renewal option. The lease provides the tenant reimburse a pro rata share of the of the $1.354 million tenant improvement (TI) budget to the lessor should they terminate prior to the 10-years expiration. The TI amortization schedule is an exhibit to this OM and illustrates their continued commitment to this building. In addition, the lease provides for the tenant to pay additional rent over an established 2023 base year, to assist the landlord to defray operating expenses, and the State of Indiana is exempt from Real Estate Taxes and cooperates with the Landlord to file an Application for Property Tax Exemption.
This mission critical agency is public facing, bringing in children, families, and case workers. To support their mission, the building includes interview rooms with two-way glass for supervision, and security with card key access to protect children and case workers. The state selected this site due to its location in the densest population area of Indianapolis/Marion County and the building is served by the Indianapolis Public Transportation Corporation (IndyGo) that operates the city’s public bus transit system. This 60,000 square foot, two-story, elevated, masonry and steel construction, is also known as the Marion County North DCS. This building is neighbors with the State of Indiana Child Advocacy Center, making this a campus setting for both tenants.
In connection with the TI expense, the building was improved with four new training rooms with movable walls, new paint throughout, new LED ceiling lights throughout, refresh of carpet, and vinyl cove base in certain areas, update to restrooms and second floor coffee bar, VCT, countertops, and doors. There are multiple doors with card reader access. There is a separate communication room with dedicated thermostat with specific electrical requirements. The parking lot was resurfaced and sealed.
Indianapolis is the 29th largest metropolitan economy in the U.S. based on the industries of trade, transportation, and utilities; education and health services; professional and business services; government; leisure and hospitality; and manufacturing. This vibrant city is known in amateur sports and auto racing. Indianapolis is home to Fortune 500 companies that include Eli Lilly, Anthem, and Cummins. They have two major league sports teams (the Colts of the NFL and the Pacers of the NBA), five university campuses, and many museums. The city is best known for annually hosting the world’s largest single-day sporting event, the Indianapolis 500.