Urban Growth Capital

Development and Redevelopment Opportunities Throughout the United States.

The Urban Growth Capital (UGC) team has over 50 years of combined commercial real estate experience in brokerage, development, capital raising, CMBS workouts, real estate technology, property management, and construction.

This broad experience, combined with CARMEN Commercial Real Estate’s national experience representing hundreds of clients in most industries, gives UGC unique exposure to development and redevelopment opportunities throughout the United States. UGC is strongly positioned to identify under-performing assets and opportunities that can be improved by implementing thoughtful and creative leasing, redevelopment, and management strategies with the objective of increasing building occupancy, rents, and maximizing NOI.

The Urban Growth Capital Team

In addition to UGC’s in-house team, the firm’s professional resources include the most experienced and respected in design, engineering, construction, and real estate finance. UGC’s deep bench of professionals allows the company to draw on these resources on a project-by-project basis, while maintaining ongoing efficiency in asset management.

Chris began his commercial real estate career in 1985 with Duke Realty Corporation. While at Duke, his responsibilities included office and industrial property leasing, culminating with his role as Vice President of Duke Realty Corporation’s Indiana Office Group. In 1993, he founded Carmen Commercial Real Estate Services.

His vision was to create a firm that specialized in tenant representation, free from the conflicts of interest inherent in traditional, full service brokerage firms. Since then, Carmen has represented over 400 businesses in transactions within Indiana and throughout the country.

Chris was a founding board member and served on the Board of Directors of TechPoint (previously the Indiana Software Association and Indiana Information Technology Association), Indiana’s statewide technology initiative, from 1999 to 2008. He has served on a number of nonprofit boards, including the TechPoint Foundation, a venture philanthropy organization incubating select science, technology, engineering, and math (STEM) programs that impact Indiana school-aged children in underserved populations.

A native of Chicago, Chris graduated from Elmhurst College where he graduated with degrees in Finance and Business Administration. He has authored two publications: How to Search and Negotiate Office Leases and The Office Relocation Planner.

6855 Shore Terrace | Indianapolis, IN

Property Description

Urban Growth Capital and North Companies, as the General Partner, are pleased to offer investors the opportunity to acquire a Limited Partner ownership stake in the 100% fee simple interest in 6855 Shore Terrace (the “Property”), a 37.3% leased, premier medical office investment located on the north side of Indianapolis.

The 42,627 square foot, two-story medical office property is situated upon 132,422 square feet of land. The Property’s first floor consists of three suites, totaling 22,428 RSF, and one current tenant, Fresenius Kidney Care. The Property’s second floor consists of five suites that can be combined, totaling 20,222 RSF, and one current tenant, Help at Home.

The Property is located approximately 10 miles from the Indianapolis Downtown area. It is a part of The Eagle Highlands Business Center, which houses a variety of businesses and medical offices. The Property is in close proximity to various IU Health Methodist medical office buildings, an outpatient center, and the Rehabilitation Center of Indiana. It features high traffic counts, ample parking, and a modern design.

Within 1-mile, demographics include an average household income of $52,500, an average home value of nearly $132,000, and a total population of 16,542.

Offering Terms:

  • Acquisition Price:
  • $3,525,000
  • Gross Leasable Area:
  • 42,627 SF
  • Occupancy:
  • 37.3%
  • Property Type:
  • Medical Office
  • Ownership Offered:
  • Fee-Simple, Free & Clear of Debt
  • Market:
  • Indianapolis, IN
  • Address:
  • 6855 Shore Terrace
  • 1-Mile Demographics:
  • Population: 16,542, Average Household Income: $52,637
  • Median Home Value:
  • $131,834
  • Public Transit:
  • IndyGo Bus Transit: 9,245,048 annual riders

Leasing & Contact Info

Nick Carmen


317.727.6121

8801 River Crossing Blvd, Suite 140
Indianapolis, IN

Connect with Urban Growth Capital

Tell us about your commercial real estate needs via the form below and we will be in touch within 36 hours.

    1040 N. Halsted Street
    Chicago, IL

    CHICAGO

    1040 N. Halsted Street
    Chicago, IL 60642

    833.848.0900

    INDIANAPOLIS

    8801 River Crossing Blvd.
    Suite 140, Indianapolis, IN 46240

    317.848.0900