Fishers and McCordsville, Ind. — Hanley Investment Group Real Estate Advisors has arranged the sale of four retail strip centers in separate transactions for $30.5 million in Indiana. Spanning 83,000 square feet, the properties include Brookschool Plaza, Sunblest Shoppes and Geist Landing in Fishers, and Geist Corner in McCordsville. Dylan Mallory of Hanley, in association with Parasell Inc., represented the seller in all four transactions.
The first property, Brookschool Plaza, totals 22,400 square feet and was fully leased to tenants including Dunkin’, Sherwin-Williams and Ascension Medical Group. The seller was a private partnership based in Indianapolis. Bryan Belk of Franklin Street represented the buyer, Charleston, South Carolina-based Bond Street REIT.
The second property, Sunblest Shoppes, spans 9,600 square feet and was fully leased at the time of sale to tenants including Papa Murphy’s, Domino’s Pizza, Subway and H&R Block. The seller was a private investor based in Indianapolis. Bryan Belk of Franklin Street represented the buyer, Bond Street REIT.
The third property, Geist Landing, comprises 31,619 square feet and was fully leased at the time of sale. Tenants include Kiddie Academy, Orangetheory Fitness, StretchLab and Jet’s Pizza. The seller was Thompson Thrift. Jeff Lefko of Hanley represented the buyer, a Lexington, Kentucky-based private 1031 investor.
The final property, Geist Corner, spans 19,248 square feet. Tenants include Goodfella’s Brick Oven Pizza & Pasta, Fit Body Boot Camp, Happy Cuisine and Subway. The seller was a private investor based in Indianapolis. The buyer, a southern Indiana-based private investor, represented themself.