Indianapolis Retail Mainstay Trades in Sale-Leaseback
Chicago-based Stream Capital Partners, a national net lease and sale-leaseback advisory group, recently represented the seller in the $15.5-million sale-leaseback of Kittle’s Furniture in Indianapolis.
Kittle’s Furniture has been in business since 1932 and, with nine locations, is well-known throughout Indiana. The 160,598-square-foot store at 8600 Allisonville Rd. is near Interstate 465, one block from Castleton Square, Indiana’s largest mall.
Jeff Lizzo and Jonathan Wolfe of Stream Capital represented the seller in the transaction.
“This was a great transaction for buyer and seller,” said Lizzo. “The buyer is getting a very well-located property in a high-income submarket of Indianapolis under a long-term lease. The seller is a best-in-class furniture tenant who has been in business since the 1930s. The seller is going to use the proceeds to invest in the continued growth of its business.”
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).