Stan Johnson Company has completed the sale of Honey Creek Marketplace, a 107,733-square-foot shopping center at 4428 S. U.S. Highway 41 in Terre Haute, Indiana.
The center is anchored by Fresh Thyme Farmers Market and Academy Sports + Outdoors. Mark Lovering of Stan Johnson Company represented the seller, a Texas-based developer.
The buyer, an institutional investor based in Wisconsin, was represented by Stan Johnson Company’s Christian Tremblay. The center sold for $22.3 million reflecting a 7.38 percent cap rate.
The property was constructed in 2015 on 4.8 acres and is fully leased to seven tenants. Located in southern Terre Haute, the shopping center is strategically positioned in a major retail corridor of the city and is surrounded by neighboring national retailers including Kroger, Hobby Lobby, Lowe’s and many others. With close proximity to U.S. Route 150 and Interstate 70, the site offers excellent access to downtown and its surrounding residential neighborhoods.
