The Boulder Group completed the sale of a single-tenant O’Reilly Auto Parts at 2881 E. 81st Ave. in Hobart, Indiana, for $5.8 million.
The 42,097-square-foot building benefits from its position along East 81st Avenue, a primary thoroughfare that experiences over 65,400 vehicles per day. The property is also located just west of Interstate 65, which links Chicago and Indianapolis, and carries a daily traffic flow of 67,400 vehicles.
Additionally, the newly constructed O’Reilly Auto Parts is placed on an outparcel to The Home Depot and Target. The surrounding area is comprised of several shopping centers including Southlake Mall. Neighboring tenants occupying the other centers include Sam’s Club, Walmart, Costco, Lowe’s, Best Buy, Dick’s Sporting Goods, Hobby Lobby, and many others. There are over 89,100 people living within a five-mile radius that earn an average household income in excess of $89,200.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Midwest-based developer, and the buyer was a Midwest-based real estate investment trust.
