Author Archives: David Matthews

Bradford Allen Acquires 130-Room SpringHill Suites Indianapolis Fishers Hotel

Published March 24, 2025

FISHERS, Ind. — Bradford Allen, a national full-service real estate firm, today announced its investment arm has acquired the SpringHill Suites Indianapolis Fishers, a 130-room select-service hotel at 9698 Hague Road adjacent to the new Cadillac Formula 1 headquarters and Nickle Plate Trail railtrail corridor and near other major employers and entertainment centers.

Bradford Allen acquired the SpringHill Suites Indianapolis Fishers, a 130-room hotel near the future Andretti Global headquarters under construction in the North Loop of Indianapolis.

Located near Interstate 69 in the Indianapolis North Loop submarket, the hotel is less than 3 miles from the new Fishers Event Center, which hosts concerts, basketball games and other events and serves as a community-focused venue for sports, graduation ceremonies and more. It also is across the street from the new Cadillac F1 headquarters being developed by Bradford Allen, and less than 20 miles from the Indianapolis Motor Speedway. In addition, the hotel is than 5 miles from major employers including Genentech, Navient and the Federal Bureau of Investigation.

“This acquisition expands our portfolio of core brands in well-populated areas near experience-driven venues,” said Aghfar Arun, executive director, hospitality at Bradford Allen. “It also has a value-add component, another key part of our acquisition strategy. The hotel will benefit from the increased demand we anticipate from the F1 headquarters, as well as the growth of the Indianapolis suburbs and the many new nearby event and entertainment options.”

Opened in 2007 and renovated in 2016, the hotel features an indoor pool, meeting room, convenience store, fitness center, laundry room, complimentary breakfast buffet and complimentary on-site parking. There are currently no hotels under construction within 10 miles, allowing the property to benefit from limited supply.

Since launching its hospitality platform in 2022, Bradford Allen has acquired seven hotels totaling about 900 keys. In addition to the SpringHill Suites Indianapolis Fishers, the firm currently owns hotel assets in the Glendale Sports and Entertainment District in Glendale, Ariz., a suburb of Phoenix; Long Island, N.Y., near the Hamptons; and Iowa City, Iowa, near the University of Iowa campus. Bradford Allen also plans to open the new Hyatt Centric Rosemont near Chicago’s O’Hare International Airport later this year.

Bradford Allen broke ground last year on the Cadillac F1 headquarters, a cutting edge 400,000-square-foot motorsports facility. Earlier this year, the firm arranged a lease for Andretti Global, on behalf of the parent company TWG Motorsports, to occupy the former IndyStar Pulliam Production Center on Georgetown Road in Indianapolis to house Andretti Global’s INDYCAR, INDY NXT and Formula E teams. Both the Fishers and Georgetown Road facilities are expected to open in 2026.

About Bradford Allen:

Bradford Allen (BA) is a commercial real estate and investment services firm based in the heart of downtown Chicago. Founded in 2003 by principals Jeff Bernstein and Larry Elbaum as an office brokerage, the firm has grown into a vertically integrated commercial real estate company offering a full array of services and expertise across multiple U.S. markets to entrepreneurial, corporate and not-for-profit clients, including strategy, marketing and transaction execution for occupiers, investors and owners. For more information, visit bradfordallen.com.

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Editors:

For more information or to schedule an interview,?contact David Matthews, dmatthews@taylorjohnson.com, (312) 267-4523.

Bradford Allen Teams Up With Andretti Global on New Motorsports Facility

Published March 1, 2025

INDIANAPOLIS (Mar. 1, 2025) — Bradford Allen, a national full-service real estate firm, today announced it arranged a lease for TWG Motorsports, parent company of Andretti Global, at the former IndyStar Pulliam Production Center at 8278 Georgetown Road in Indianapolis and is redeveloping the 245,783-square-foot space to serve as the headquarters of Andretti Global’s INDYCAR and INDY NXT teams. The renovated facility will have both office and industrial space and will accommodate approximately 300 employees. Construction has begun and will be coordinated concurrently with the removal of several three-story printing presses from the building. The entire project is scheduled to be completed by this summer.

Bradford Allen Development Company is redeveloping the former IndyStar Pulliam Production Center in Indianapolis to the new headquarters for Andretti Global’s INDYCAR and INDY NXT teams.

This is Bradford Allen’s second project for TWG Motorsports, the first being the nearly 400,000-square-foot motorsports facility currently under construction in Fishers, Ind. That building will now be the home of the new Cadillac Formula One team debuting in 2026.

“As TWG Motorsports’ and Andretti Global’s requirements grow, we’ve consistently crafted innovative solutions – whether through new construction or by creatively repurposing existing spaces – to meet their evolving needs,” said Brian Carley, executive managing director of development for Bradford Allen. “The redevelopment of the Georgetown Road facility represents a significant milestone in supporting Andretti’s vision. This collaboration underscores our shared commitment to creating spaces that drive innovation and excellence, while adding to Indianapolis’ motorsports legacy.”

Built in 1995, 8278 Georgetown Road served as a production facility for the Indy Star until 2024. Bradford Allen will modernize the building’s technology, introduce tailored workspaces and fabrication zones and incorporate top-tier employee facilities such as a fitness center, dining space and a pit-stop performance area. Its scope of work will include:

New office finishes and partitions and additional restrooms
New window openings
New passenger car elevator replacing the existing lift/freight area.
Expanded loading dock doors and truck entrances to accommodate Andretti’s fleet of haulers
New skylights, repaved exterior areas and new high-performance floor coatings
New mechanical, electrical, plumbing and fire prevention systems to accommodate the new layouts and operational requirements of the facility

“This new headquarters on Georgetown Road will not only bring our INDYCAR and INDY NXT teams together under one roof, but also solidify our commitment to the future of motorsports,” said Dan Towriss, team partner at Andretti Global. “We’re proud to work with Bradford Allen once again to create a world-class facility that reflects our passion for racing and our dedication to excellence.”

Other partners in the project include general contractor Louisville, Ky.-based ABEL Construction Co. and Charlotte, N.C.-based Merriman Schmitt Architects. Both firms have experience with motorsports facilities.

Bradford Allen currently has approximately $1 billion in active developments across the country representing all major asset classes. Bradford Allen is a vertically integrated real estate firm providing end-to-end real estate investment, transaction and management solutions for hospitality, multifamily, commercial office and mixed-use assets across the U.S.

Other development projects in the pipeline for Bradford Allen include a mixed-use redevelopment in Nashville, Tenn., and a mixed-used community in Arlington Heights, Ill., that involves the redevelopment of the former Daily Herald office center.

About Bradford Allen:

Bradford Allen (BA) is a commercial real estate firm based in the heart of downtown Chicago. Founded in 2003 by Jeff Bernstein and Larry Elbaum as an office brokerage, the firm has grown into a vertically integrated commercial real estate company, offering a full array of services and expertise across multiple U.S. markets to entrepreneurial, corporate and not-for-profit clients, including strategy, marketing and transaction execution for occupiers, investors and owners. For more information, visit bradfordallen.com.

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Editors:

For more information, please contact David Matthews at dmatthews@taylorjohnson.com or (312) 267-4523.

Bradford Allen Acquires 350 and 450 E. Las Olas in Fort Lauderdale, Fla.

Published February 12, 2025

Firm will invest over $25 million to upgrade the 470,810-square-foot office complex, its first acquisition in South Florida

FORT LAUDERDALE, Fla. (Feb. 12, 2025) — Bradford Allen Investment Advisors today announced it has purchased 350 and 450 E. Las Olas Blvd. and will invest over $25 million to upgrade the 470,810-square-foot office complex, the firm’s first acquisition in South Florida. Bradford Allen also will be providing asset and property management services for the property.

Bradford Allen has purchased 350 and 450 E. Las Olas Blvd., a 470,810-square-foot office complex in downtown Fort Lauderdale, Fla., with plans to invest an additional $25 million in the property.

Bradford Allen plans to renovate the lobbies and put in the most technologically advanced conference rooms, a state-of-the-art fitness center and outdoor space to create the best-in-class offering in the market.

“350 and 450 E. Las Olas occupy what’s generally regarded as the most desirable office location in downtown Fort Lauderdale,” said Larry Elbaum, principal and co-founder of Bradford Allen. “By buying and recapitalizing the complex, we’re going to make it a clear choice for Fort Lauderdale office tenants seeking the best downtown location and amenities. We’re committed to investing significantly in this property so the quality of the buildings is commensurate with the quality of their location.”

Built in 1997, the property offers ocean, river and city views, as well as first-floor retail and restaurant tenants including Starbucks. In addition to the 470,810 square feet of office and retail space, the complex also includes 1,344 parking spaces in a multi-story covered deck.

Jon Blunk and Laurel Oswald of TCRE will handle leasing for the property, which was 69% occupied at the time of sale.

“With limited product available in the market, especially Class A+ space, a revitalized 350 and 450 E. Las Olas will be welcomed by tenants seeking the best product in the best location,” said Blunk, president of TCRE.

350 and 450 E. Las Olas offers easy access to transportation, including Interstate 95, the Brightline train and several bus routes. In addition to parking, the office complex also has bike storage.

Bradford Allen owns properties in suburban Chicago; Greenwich, Conn.; Denver; Jacksonville, Fla.; and other markets. The firm has made a number of other value-add investments in large office properties as well.

About Bradford Allen:

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Editors:

For more information, please contact David Matthews at dmatthews@taylorjohnson.com or (312) 267-4523.