Case Study: Shadeland Professional Building

November 6, 2026

Overview

Located at 7914 N. Shadeland Avenue in Indianapolis, the Shadeland Professional Building is a 13,104-square-foot office building acquired by one of Premier Commercial Real Estate’s investment teams for $1.3 million.

Positioned directly across from Community Hospital North and surrounded by major transportation corridors, including I-465 and I-69, the property offered a strategic opportunity to acquire a medical office asset in an established healthcare market.

The investment team’s original strategy was to hold the property as a long-term investment while leasing the building’s vacant spaces to generate additional income and strengthen the asset’s overall performance.

The building was originally listed as simply an office building; however, Premier recognized this as a medical office space opportunity, versus just office, and began marketing it as a medical office building (MOB). In doing so, Premier was able to bring in a medical tenant for the first floor.

The Challenges

While the property offered a compelling location and long-term investment potential, several unique challenges required careful evaluation and strategic planning. The building had been marketed as simply an office building for sale for years. The new ownership shifted the office building into a medical office building.

Complex Property Layout and Accessibility

The building’s unconventional configuration presented potential challenges for accessibility and visibility. The primary entrance appeared to be positioned on the less intuitive side of the building, creating a need to evaluate how visitors and prospective tenants approached and accessed the property.

Landlocked Site and Cross Easements

The property was surrounded by multiple neighboring office buildings, creating a landlocked configuration with several shared access and property-use considerations. Ten cross easements required review to better understand the rights, obligations, and potential implications for property access and operations.

Infrastructure Maintenance

The building required infrastructure attention, particularly to its sprinkler system. Evaluating these maintenance needs was important to understanding the property’s condition, anticipating capital expenditures, and supporting the investment team’s long-term ownership strategy.

Deferred Landscaping Maintenance

Significant landscaping maintenance was also needed to improve the property’s exterior appearance and overall presentation. Addressing these issues would be an important consideration in enhancing curb appeal and positioning the building to attract prospective medical office tenants. Deferred maintenance included removing several overgrown and one dead pine tree, as well as reconfiguring the grass and landscaping around the perimeter for better efficiency. 

The Opportunity

Although the investment team initially planned to hold the asset as a long-term investment, an unexpected opportunity emerged when a prospective tenant expressed interest in leasing the entire second floor under a 10-year lease. Rather than lease the space, the prospective tenant ultimately decided to purchase the property, presenting the ownership group with a completely unsolicited offer and transforming the opportunity into an owner-user sale. The transaction also provided an opportunity for Premier Commercial to utilize its new 1031 Exchange Services, helping facilitate a win-win outcome for both the buyer and seller. Adding to the success of the transaction, Premier Commercial had the opportunity to represent both parties, with Kristen Berry representing the buyer and Will Conway, Tom Ferguson, and Pete Alveal representing the seller. 

The Takeaway

The Shadeland Professional Building transaction demonstrates that successful commercial real estate investment requires both disciplined due diligence and the ability to recognize opportunities as they emerge. We looked at an under utilized asset and turned it into new energy by changing the idea, looks and belief behind it. 

From evaluating complex easements, accessibility, infrastructure, and deferred maintenance to navigating an unexpected owner-user acquisition, Premier Commercial helped turn a traditionally structured investment into a successful outcome for both parties. 

For the tenant-turned-buyer, the opportunity to acquire the property provided greater control over their space and the potential to build long-term value through ownership rather than a 10-year lease. By leveraging its brokerage expertise and 1031 Exchange Services, Premier delivered value beyond the original investment strategy—reinforcing the importance of having an experienced commercial real estate partner who can adapt to changing circumstances and identify opportunities others may not anticipate.

Premier Commercial Real Estate | TCN Worldwide
Strategic insight. Informed investment decisions. Long-term value.