A 31,600-square-foot neighborhood shopping center at 3115 Meridian Parke Drive in Greenwood, Indiana, sold for $5.5 million.
The property was acquired by MPPSC, LLC from 4494 Equity Investments, LLC. The transaction closed at a 7% cap rate and delivered a 23% internal rate of return (IRR) to the seller.
The shopping center is a well-maintained retail asset positioned within a strong suburban corridor, serving the surrounding Greenwood community with a mix of established tenants.
George Stecz with Equity represented the seller in the transaction, while Merrill Group represented the buyer.
