Marcus & Millichap closed the sale of Steak ‘n Shake, a 4,025-square-foot net-leased building in Brownsburg, Indiana. The asset sold for $1.5 million.
Nicholas Kanich, a first vice president of investments in the Net Lease Group at Marcus & Millichap’s Chicago Downtown Office, had the exclusive listing to market the property on behalf of the seller, an Illinois-based private investor. Josh Caruana, Indiana Broker of Record, assisted in closing this transaction.
The Steak ‘n Shake is located at 21 Maplehurst Drive in Brownsburg, Indiana, a high-income northwestern suburb of Indianapolis. With high visibility from Interstate 74, the property sits in a main retail corridor neighbored by numerous national tenants, including Walmart Supercenter, Circle K, Starbucks, Buffalo Wild Wings and others.
