Chicago-based Baum Realty Group, LLC recently closed the sale of a single-tenant net-leased Goodrich Theater property at 3525 McCarty Lane in Lafayette, Indiana, for $2.458 million.
Baum vice -residents Brad Teitelbaum and Patrick Forkin represented the seller in the transaction. The buyer was a private investor out of Michigan. The tenant, Goodrich Quality Theaters, is a Michigan-based operator with 30 theater locations in four states.
The property, occupied by Goodrich Quality Theaters, has three years remaining on the original 20-year lease with two five-year options. The recently updated theater is located about four miles from Purdue University. The 18,000-square-foot building sits on nearly three acres, and is located off the main retail corridor in Lafayette.
