Winslow Aesthetic & Wellness Center
Deal Type: Acquisition
Risk Profiles: Core Plus, Value-Add
Property Types: Office
Investment Summary
Cushman & Wakefield is pleased to exclusively present for sale Winslow Aesthetic & Wellness Center, a value-add medical office building located in Carmel, Indiana, one of the state’s most affluent and fastest-growing communities. The two-story, 21,007-rentable-square-foot building, sits on ±3.11 acres at the intersection of 116th Street and AAA Way, offering direct access to Keystone Parkway and the broader Indianapolis metro via I-465.
The property is anchored by Winslow Facial Plastic Surgery, which occupies the entire second floor and operates its surgical center on site. This income-producing property is available for an owner-user to take the entire second floor, or for an investor with a partial lease of the second floor by Winslow Facial Plastic Surgery. Other tenants in the property are primarily wellness or beauty focused, with an impressive average tenancy exceeding nine years. The asset presents meaningful value‑add opportunity due to mark-to-market and lease up potential.
Shadow-anchored by Merchants’ Square, a major retail destination that draws over 2.5 million annual visits, the site is surrounded by a dense concentration of professional offices, retail and entertainment uses, and upscale residential neighborhoods. Over 20,000 vehicles pass through the nearby 116th/Keystone interchange daily, offering strong visibility and accessibility. Recent infrastructure upgrades, including a planned roundabout at AAA Way and 116th Street, are part of Carmel’s “Link 2.0” initiative to enhance connectivity east-west in Carmel, and support continued growth. The building will directly face the roundabout, providing outstanding frontage and visibility for its tenants.
The wellness center is situated on an expansive 3.11± acre site with access from three roadways, including 116th Street, AAA Way and Merchants Square Drive. The site benefits from B-7 zoning, which permits retail, office, and service uses, providing flexibility for future repositioning or redevelopment. Ample on-site parking and strong pedestrian connectivity to nearby retail and dining destinations enhance accessibility and convenience for tenants and visitors.
Investment Highlights
1. Value‑Add investment with mark to market and well as lease up opportunity for a very attractive CAGR of nearly 7% over five years
2. Easily recognizable and well-known wellness center, anchored by Winslow Facial Plastic Surgery with on-site surgical center
3. The length of average tenancy in the building exceeds 9 years, reflecting the overall desirability of this location and providing a long-term, stable tenant base
4. Prime exposure and visibility at 116th Street & AAA Way and will soon benefit from a planned roundabout and streetscape upgrades
5. Minutes from I-465, providing regional connectivity to Indianapolis metro
6. Affluent demographics: $165K average household income within 5 miles, 76% college-educated, strong commercially-insured patient base
Property Summary
Year Built
1983
Building
Two-story Medical Office + Lower Level
Net Rentable Area
21,007 SF
Land Area
3.11 Acres
# of Parking Spaces (Structure & Surface)
112 Spaces
Parking Ratio
4.52 / 1,000 SF
Photo Gallery
Investment Contacts
DARRIN BOYD, SIOR, CCIM
Managing Director - Office Specialist
+1 317 590 8490
darrin.boyd@cushwake.com
MATT BOYD
Senior Associate - Office Specialist
+1 317 985 2693
matt.boyd@cushwake.com
BROOKE RATLIFF
Associate
+1 317 625 1559
brooke.ratliff@cushwake.com