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Hammond Retail Trades in 1031 Exchange
A Marcus & Millichap team has completed the sale of a 9,327-square-foot new construction retail strip center in Hammond, IN. After multiple offers, the center sold to an Illinois-based 1031-exchange buyer for $4,725,000.
Austin Weisenbeck and Sean R. Sharko, both SVPs investments in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the undisclosed seller. Josh Caruana assisted in closing the transaction as the broker of record in Indiana.
The property is located at 7905 Indianapolis Blvd. and is anchored by corporately guaranteed AT&T. All tenants are operating under 10-year leases and have rental increases.
Sharko and Weisenbeck also sold the Starbucks-anchored property across the street for $2,560,000 in December 2017.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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