Michael Paez of The Kase Group, a net-leased investment brokerage firm, has completed the sale of a Max & Erma’s ground lease at 12105 North Executive Drive in Edinburgh, Indiana, for $2.085 million.
The 5,867-square-foot Max & Erma’s is positioned in front of the Edinburgh Premium outlets, which has no food court. The outlets are a Simon-owned property with 85 outlet stores including Adidas, American Eagle, Banana Republic, Coach, Michael Kors, Nike and Polo Ralph Lauren.
The restaurant is also located within walking distance of five international hotel chains, Hampton Inn, Hilton Garden Inn, Holiday Inn, Best Western and Comfort Inn. The property features 132 parking spaces on a 1.33-acre lot.
Michael Paez of The Kase Group represented the seller in the transaction, an East Coast-based private investor. The buyer was a West Coast private investor.
