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Chicago & Midwest  + Midwest  + Retail  |  December 28, 2023
Jasmine Kilman
By: Jasmine Kilman

Home Depot, Target Anchored Retail Center Sells in Indiana

Marcus & Millichap has closed the sale of a 29,335-square-foot retail property located in Merrillville, Indiana. The asset sold for $2.75 million. The firm’s Austin Weisenbeck, Sean Sharko and Adrian Mendoza, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

After procuring six written offers from investors, the property was sold to a Chicago-based, non-1031 exchange buyer, who was also secured and represented by Mendoza, Weisenbeck and Sharko. Josh Caruana, Regional Manager and Broker of Record of Indiana assisted in closing this transaction.

The 93 percent leased center is located at 2871 E 81st Avenue and shadow-anchored by Home Depot and Target in a retail corridor. The Home Depot store is the fifth most visited Home Depot in Indiana, and the property is situated in close proximity to the Southlake Mall.

Read More News Stories About: Marcus & Millichap
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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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