Hanley Investment Group Real Estate Advisors sold two multi-tenant retail properties in Fort Wayne, Indiana, for a combined total of $11.8 million.
In the last 36 months, Hanley Investment Group has sold $437 million in retail properties in the Midwest.
Hanley Investment Group’s senior associate Dylan Mallory and executive vice president Jeff Lefko represented the seller, a private partnership between Jackson Investment Group and McCormack Development based in Central Indiana, in the transaction. Matt and Bart Jackson of Jackson Investment Group also played a brokerage role in the sales transaction.
The buyer, a private investor based in Mexico City, was represented by Daniel Waszak of Quantum Real Estate Advisors, Inc.
Located at 407 W. Coliseum Blvd. in Fort Wayne, the Shops at 407 is a new construction, five-tenant retail pad building occupied by Mission BBQ, WingStop, CoreLife Eatery, Comcast and 5-Star Nutrition. The 14,271-square-foot building, built in 2019, features excellent visibility with over 225 feet of frontage along Coliseum Blvd.
The second property, the Corner Shoppes, is located at 401-407 E. Coliseum Blvd. The newly renovated 12,939-square-foot building is positioned on the signalized hard-corner of Coliseum Blvd. and Coldwater Road, which is one of the busiest intersections in the state of Indiana with more than 91,000 cars a day. The tenants at Corner Shoppes include Blaze Pizza, Red Wing Shoes, iCYRO, T-Mobile and Stanton Optical.
Both properties are located near Glenbrook Square Mall, which is the only super regional mall in Northeast Indiana and serves a trade area of more than 100 miles. The mall draws consumers from the region, with major national tenant offerings such as Macy’s, JCPenney, H&M, Express, P.F. Chang’s China Bistro, Red Robin, Panda Express and Starbucks.
