ZIONSVILLE, Ind. – RealEstateRama – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in the sale of retail properties, announced the sale of a two-tenant, 11,400-square-foot retail center in Zionsville, a northern suburb of Indianapolis, Indiana. The sale price was $3,145,000.
Hanley Investment Group’s Vice President Dylan Mallory represented the seller, Jackson Investment Group, based in Central Indiana. The buyer was a private investor based in the Indianapolis metro area and was represented by Forest Bender of Marcus & Millichap in Indianapolis. Jackson Investment Group also played a brokerage role in the transaction.
The property, Zionsville Station, is located at 10615 Zionsville Road, just south of the Village of Zionsville. The 1.35-acre property features new long-term leases from Hotel Tango Whiskey, a well-known local whiskey brand, and the Pampered Pooch Resort and Spa, a new dog care facility, according to Mallory. The property was previously home to Pizza King for more than 30 years before undergoing a significant renovation and repositioning plan in 2021.
“Six offers were generated in the first 10 days of marketing and a full-price offer was procured from a local real estate investor already familiar with the property,” said Mallory. “Out-of-state investors and local investors were highly attracted to the opportunity due to its location in Zionsville, one of the most affluent communities in the Midwest.”
“Zionsville is listed as one of the 10 Richest Communities in Indiana, Best High Schools in Indiana, Best Cities to Live in Indiana and one of Indiana’s Safest Cities. The average household income in a three-mile radius of the property is in excess of $175,000,” said Mallory.
Additionally, Zionsville Station is located less than a mile from Creekside Corporate Park, a new 40+ acre corporate campus featuring walking trails and outdoor fitness options. Major employers in the park include Witham Health Services, FedEx and LIDS headquarters office. Rahal Letterman Lanigan Racing is under construction on a new, $20 million, 100,000-square-foot facility that will serve as their global headquarters. Completion is expected in the summer of 2022.
Over the last four years, Hanley Investment Group has sold $705 million in retail properties in the Midwest. In the last two years, Mallory has closed over $70 million in the state of Indiana. Earlier this year, Mallory completed the sale of a net-leased multi-tenant medical property in Plainfield, Indiana.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over a $9.1 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients’ needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties. For more information, visit www.hanleyinvestment.com.
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