Overview

Description

Lee & Associates is pleased to exclusively offer for sale to qualified investors the opportunity to purchase University Shoppes, a multi-tenant retail center located in Indianapolis, Indiana (the “Property”). Built in 2007, the University Shoppes shopping center is a 8,844-square-foot multi-tenant retail building that is 100% leased to Bank of America, FedEx Office, AT&T, & Sun Tan City. This tenant mix provides an investor with a safe mix of corporate and investment grade credit tenancy.

The subject property sits directly across from the Southern Plaza Shopping Center (click here for drone video of Center) , a highly desirable Kroger anchored center, with co-tenants that include Ross Dress For Less, Marshall’s, Goodwill Store, rue21, Sally Beauty, Pizza Hut, Great Clips, PNC Bank, Steak ‘n Shake, AMC Theatres, and Harbor Freight Tools. Kroger completed a full exterior/interior remodel in 2017.

The Property is ideally located along S. East Street, offering outstanding signage and visibility to 34,000+ cars per day. S. East Street is a major retail and business corridor, with national tenants along this stretch including Shopper’s World, Dollar Tree, Chase Bank, Family Dollar, Save A Lot, AutoZone, Cici’s, Arby’s, and GameStop to name a few.

The University Shoppes are well positioned less than a 1/2 mile from the on/off ramp to Interstate 465 (107,000 cars per day), for quick access to Downtown Indianapolis (5 miles to the North) and Indianapolis International Airport (13 miles to the West). This strategic location allows the center to pull from over 205,000 people within a 5-mile radius of the property offering a wide-ranging labor pool and outstanding customer draw to the trade area.

The University Shoppes are located less than a mile from the University of Indianapolis (“UIndy), a 4-year, private, not for-profit university with approximately 5,500 students and 600 faculty staff. UIndy is ranked in the top tier of Midwest universities by U.S. News & World Report. As of 2018, UIndy was ranked #34 (tie) in Regional Universities Midwest, #21 (tie) in Best Colleges for Veterans, and #66 in Best Value Schools.

The center is located approximately five miles south of Downtown Indianapolis, the capital and largest city in Indiana. It is the second-largest city in the Midwest and the 15th most populous in the United States. Indianapolis is a transportation and logistics hub, as more interstates intersect through the city than in any other in the United States. The Indianapolis International Airport was named the “Best Airport in North America” in 2010 and 2012-2015, and is home to the second-largest FedEx Express hub in the world.

Highlights

• 100% Leased Retail Center
• 57% Corporate Investment Grade Tenancy
• Long Term NNN Leases
• Directly Across from Kroger Anchored Southern Plaza Shopping Center
• Desirable Co-Tenants
• Only True Hard Corner Retail Location in the Trade Area
• Adjacent to Four Way Interchange I-465
• Visibility/Access Along S. East Street
• Limited Competition
• Located with 1/2 Mile of Interstate 465
• Quick Access to Downtown Indianapolis & Indianapolis Intl Airport
• Excellent Demographics
• Strong Draw to the Trade Area
• Proximity to University of Indianapolis-Top Ranked Regional University
• Located in Indianapolis - 2nd Largest City in Midwest

Documents

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