Marcus & Millichap brokered the $8 million sale of a 55,010-square-foot retail center located in the Hammond Marina District at 1105 5th Ave., in Hammond, Indiana, according to Joe Powers, regional manager of the firm’s Chicago Downtown office. The property is anchored by Dollar Tree and Ross Dress for Less.
Nicholas Kanich and Mitchell Kiven, first vice presidents of investments in the firm’s Chicago Downtown office, represented the seller, Luke Brands. The purchaser, Canyon Park Capital, was represented by Friedman Real Estate.
Constructed in 2016, the retail center is well-located, adjacent to a Walmart Supercenter, less than a mile from Horseshoe Hammond Casino and minutes from the Chicago Skyway. The four-store retail center was fully occupied at the time of sale, with additional tenants including Rainbow and Sadoni Beauty Supply.