Mid-America Real Estate Corporation’s Net Lease Investment Group recently brokered the sale of an 8,320-square-foot Family Dollar located in Indianapolis.
An investment fund in Texas purchased the property from a private developer for $1.142 million, which is a 7.50 percent cap rate. The building is leased to Family Dollar for 10 years.
The newly constructed Family Dollar is part of the Lawrence Commons shopping center anchored by LA Fitness and located at the northwest corner of Pendleton Pike and Mitthoeffer Road.
Tom Fritz and Kevin Conway of Mid-America Real Estate Corporation represented the seller. The brokers worked in cooperation with Mid-America Real Estate – Indiana LLC and were supported by Scott Gray and Larry Davis of Sitehawk Retail Real Estate.