Hanley Completes Break-Up Sale of Terre Haute Retail Center
Hanley Investment Group Real Estate Advisors VP Dylan Mallory, in association with ParSell Inc., has completed the break-up sale of South Pointe Crossing, a Kroger shadow-anchored retail property in Terre Haute, IN. There were two separate transactions: a freestanding single-tenant Starbucks and a 41,663-square-foot, multi-tenant retail center.
The Starbucks building is positioned as an outparcel to South Pointe Crossing. The sale price was $1,805,000. The buyer was a private family office based in Erie, PA, and was represented by Drew Baldwin and Jake Duska of Baldwin Brothers, Inc.
The multi-tenant portion of South Pointe Crossing was 97% occupied at the time of sale. The sale price was $8,200,000. The buyer was an Indianapolis-based private partnership represented by Scott Pollom and Jane Drew Pollom of F.C. Tucker Company, Inc.
Thompson Thrift Commercial was the seller of both properties and the original developer of South Pointe Crossing.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).