What objections or support can you expect from the surrounding community.  

As I mentioned before join a local REI and surround yourself with likeminded people in the biz.

Now if the current rent is just a little bit above rent rates for surrounding warehouses then the tenants might see value in office because for a little more they tend to get better construction quality, amenities, and more road front business exposure than being tucked away in a warehouse park.

What it does offer is a free jitney line to residents that’ll take them to a mid town direct line in the surrounding towns.

I Wholesale in Indy and surrounding.

You really should have cash flow, tenant vacancy rates, neighborhood, surrounding demographics and jobs, upcoming major builds in area, etc. as more important factors.

I tracked down PIG and they seem very promising and I have begun looking at the surrounding areas to see what I can find as far as groups.

This market price fits with the neighborhood and surrounding areas, so there's not likely going to be appreciation. 

A method that might work for you, depending on the what type of deal and specifics surrounding it, you could take out a Hard Mon3y Loan to purchase it from the Wholesaler, because the lender will allow you to add the wholesalers assignment fee to the loan and its considered an All Cash Purchase.

HI Manu @Manu BhardwajSounds like fun, but you want to surround yourself with a team that has done this before.