Cooper Commercial Investment Group closed the sale of The Avenue at Bennett Farms, a two-building retail asset consisting of 12,969 square feet in the Indianapolis suburban area of Zionsville/Carmel, Indiana.
The asset includes tenants such as Tropical Smoothie, Restore Hyper Wellness, Capriotti’s Sandwich Shop, Garbanzo Mediterranean Fresh and Classic Cleaners. The center also includes a free-standing Java House. Most tenants are starting on new 10-plus-year NNN leases.
Dan Cooper of Cooper Commercial Investment Group in Cleveland represented the seller, a private Midwest developer. The buyer, a private investment group out of the Midwest, was located by Cooper within the first two weeks of the property being listed for sale.
The asset sold for $7.35 million, representing a 5.9% CAP rate and about 99% of list price.
