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Avison Young announces sale of casino property in Gary, IN for redevelopment
March 28, 2023
Opportunities for economic growth on 132-acre site with harbor access
Indianapolis, IN– Avison Young has arranged the sale for 132 acres of land at 1 Buffington Harbor Court in Gary, IN, formerly the site of Majestic Star Casino. The buyer, Transport Properties, purchased the property with plans to redevelop for industrial use.
The seller, Majestic Star Casino, LLC was represented by Bill Ehret, Principal and Managing Director of the firm’s Indianapolis office with local support from Adam Haefner, Principal; Zeke Rowan, Principal; and Martin Mikaitis, Principal, based in Avison Young’s Chicago office. The team also represented Transport Properties.
“The transformation of this property will open opportunities in Gary that will boost economic growth, spur construction and development, and offer facilities that will meet the current market demands,” said Haefner. “Proximity to the Chicago metro area and Northwest Indiana markets is key to providing an occupier/employer with access to these markets at an extremely competitive rate for both the facility and employees,” added Ehret.
The site offers access to barges and steamships at Indiana’s only private harbor, potential for rail with four different providers, proximity to the Gary/Chicago International Airport, and proximity to four-way interchanges on I-90 and I-94 from Cline Ave. Benefits of the site include an electric substation for users that require heavy power, multiple fiber providers that have lines contiguous to site, and a 2,000-car covered parking garage for users with heavy employee counts or vehicle fleets. These amenities will be valuable to wide range of traditional and non-traditional industrial users.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
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