INDIANAPOLIS – Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, today announced it has brokered the $12.25 million sale of Monon & Main, a four-story, 34,650-square-foot Class A+ boutique mixed-use office and retail property located at 211 West Main St. in Carmel, Indiana, a northern suburb of Indianapolis. At $354 per square foot, the transaction set a new high-water mark for office sales in the state of Indiana, according to Cushman & Wakefield research data.
Situated in the heart of the vibrant Carmel Arts & Design District, Monon & Main was 100% leased at the time of sale. Built in 2018, the property is comprised of 79% office and 21% retail space.
Cushman & Wakefield’s Rebecca Wells, Director, Capital Markets, based in the firm’s Indianapolis office, represented the seller, a private partnership led by the Hannum family. The buyer was a private investor. “There was tremendous investor interest in this trophy asset, which may signal the beginning of a thaw in Central Indiana’s commercial office market,” said Wells. “It also reflects the exceptional construction quality of the building and the strength of the Midtown Carmel location within the Arts & Design District.”
As one of Indianapolis’s most affluent suburbs, the City of Carmel has been widely recognized in recent years for its strong job growth, cultural amenities, award-winning school system, and abundant leisure opportunities, including more than 200 miles of trails and pathways and over 1,000 acres of parks and green space. Monon & Main is part of a larger mixed-use development that also includes a three-story, 12,000-square-foot independent steakhouse, seven townhomes, and a 200-space parking garage. A public plaza and pedestrian seating areas further enhance the overall development.
Cushman & Wakefield research shows that nine of the top 10 highest office sale prices per square foot in Indiana have occurred in the downtown areas of Carmel and Fishers—two of the fastest-growing communities in the state. Monon & Main exceeded the previous record by approximately 12%, surpassing the prior benchmark achieved at The Edge, located on 116th Street in Fishers.
Cushman & Wakefield Brokers Record-Setting Sale of Monon & Main, Mixed-Use Trophy Asset in Carmel, Ind.
Jeremy Barewin • 6/12/2026
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In 2025, the firm reported revenue of $10.3 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.
