Anderson, Ind. — Quantum Real Estate Advisors Inc. has brokered the sale of a 14,418-square-foot property occupied by Walgreens in Anderson, about 40 miles northeast of Indianapolis. Constructed in 2004, the building is located at 320 S. Scatterfield Road. At the time of sale, Walgreens had roughly eight years remaining on its 25-year lease term. Dan Waszak of Quantum represented the buyer, a New York City-based 1031 investor. The seller was also based in New York.
Terre Haute, Ind. — Stan Johnson Co. has negotiated the $22.3 million sale of Honey Creek Marketplace in Terre Haute, about 80 miles southwest of Indianapolis. The 107,733-square-foot shopping center is located at 4428 S. U.S. Highway 41. The property was fully leased to seven tenants at the time of sale including Fresh Thyme Farmers Market and Academy Sports + Outdoors. Mark Lovering of Stan Johnson represented the seller, a Texas-based developer. Christian Tremblay of Stan Johnson represented the buyer, a Wisconsin-based institutional investor.
Fishers, Ind. — Midland Atlantic Properties has arranged the $7.5 million sale of Fishers Corner shopping center in the Indianapolis suburb of Fishers. The 28,359-square-foot property was built in 2005 and was fully leased at the time of sale. Jacque Haynes of Midland Atlantic represented the seller, Sena Realty FC LLC. Johnny Vassallo managed the acquisition on behalf of the buyer, POG Kosmos Fishers LP. First Financial Bank provided acquisition financing.
Glen Burnie, Md., Munster, Ind. and Jackson, Miss. — Time Equities Inc. (TEI) has acquired three shopping centers totaling 307,284 square feet in Maryland, Indiana and Mississippi for $23.4 million. Acquisitions include Harundale Plaza, a 217,619-square-foot, Lidl-anchored retail center in Glen Burnie, Maryland. The property was acquired for $16.4 million from SITE Centers and Limited Partners. Ryan Sciullo, R. William Kent, Matt Karempelis and Chris Decoufle of CBRE represented the sellers in the transaction. TEI also acquired Ridgewood Plaza, a 36,307-square-foot shopping center anchored by Applebee’s in Munster, Indiana, for …
Decatur, Ind. — Ariel Property Advisors has arranged the $2.8 million refinancing of a 15,000-square-foot retail property occupied by Walgreens in Decatur, about 20 miles southeast of Fort Wayne. The property is located at 123 N. 13th St. Matt Dzbanek and Matt Swerdlow of Ariel arranged the five-year loan, which features a fixed interest rate of 3.99 percent. A national credit union provided the loan on behalf of the undisclosed borrower.
Indiana — Newmark has brokered the sale of a four-property retail portfolio in Indiana for approximately $10.5 million. The portfolio includes a Starbucks Coffee, Dollar Tree and two CVS/pharmacy properties totaling 34,814 square feet. Specific addresses and cities were not provided. Matt Berres, Samer Khalil and Jenna Barnett of Newmark represented the seller, a private developer. The team also procured the buyer, a REIT.
Fort Wayne, Ind. — Hanley Investment Group Real Estate Advisors has arranged the $2.4 million sale of a single-tenant retail property net leased to Planet Fitness in Fort Wayne. Dylan Mallory of Hanley Investment Group represented the seller, a private partnership between McCormack Development and Jackson Investment Group. The buyer was a private investor based in Southern California. Matt Jackson of Jackson Investment Group served as the broker of record on the transaction. Planet Fitness occupies a 20,001-square-foot space formerly occupied by Kmart and is located at 7528 S. Anthony …
Indianapolis — Ziff Real Estate Partners (ZRP) has sold Pyramid Place Shopping Center in Indianapolis for $10.6 million to an undisclosed buyer. The neighborhood shopping center is located at the intersection of Michigan Road and West 86th Street and features a gross leasable area of 51,974 square feet. The property was 86 percent occupied at the time of sale by tenants such as Five Guys, Einstein Bagels, Chicken Salad Chick, Qdoba and Tavel Eye Care. ZRP acquired the asset in 2015 from LNR Property LLC. Jordan Klink and Andrew Margulies …
Indianapolis — Ziff Real Estate Partners (ZRP) has sold Pyramid Place Shopping Center in Indianapolis for $10.6 million to an undisclosed buyer. The neighborhood shopping center is located at the intersection of Michigan Road and West 86th Street and features a gross leasable area of 51,974 square feet. The property was 86 percent occupied at the time of sale by tenants such as Five Guys, Einstein Bagels, Chicken Salad Chick, Qdoba and Tavel Eye Care. ZRP acquired the property in 2015 from LNR Property LLC.
Munster, Ind. — Blue West Capital has arranged the sale of Ridgewood Plaza in Munster for an undisclosed price. The 36,307-square-foot retail center is located on Ridge Road. Tenants include Fresenius, ATI Physical Therapy, Check ’n Go, GNC, Supercuts and Applebee’s. Carly Kelly of Blue West Capital represented the buyer, a private real estate company based in New York City. A Chicago-based private investor was the seller.
