Hanley Investment Group Arranges Sale of Multi-Tenant Retail Center, Freestanding Starbucks in Terre Haute, Indiana

by Katie Sloan

Terre Haute, Ind. — Hanley Investment Group Real Estate Advisors has arranged the sales of a 41,663-square-foot retail center and a freestanding Starbucks Coffee location in Terre Haute.

The properties are both portions of South Pointe Crossing, a retail center shadow-anchored by Kroger on U.S. Highway 41. Dylan Mallory of Hanley, in association with ParaSell Inc., represented the seller, Thompson Thrift Commercial, in both transactions.

A private family office based in Erie, Pennsylvania, acquired the 2,212-square-foot Starbucks outparcel for $1.8 million. Drew Baldwin and Jake Duska of Baldwin Brothers Inc. represented the buyer in the transaction.

A private partnership based in Indianapolis acquired the four-building multi-tenant retail center, which was occupied by tenants including Sherwin-Williams, T-Mobile, Charles Schwab & Co., Papa John’s, Once Upon a Child, Plato’s Closet, Big Red Liquors, and Indiana Farm Bureau Insurance at the time of sale. Jane Drew Pollom of F.C. Tucker Company Inc. represented the buyer in the $8.2 million transaction.

Both assets were acquired in 1031 exchange transactions. 

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