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Chicago & Midwest  + Midwest  + Retail  | 

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.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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