Marcus & Millichap Sells Indianapolis Retail Development

The property is part of The Village at Eagle Creek shopping center and was put under contract before it was completed earlier this year.
6929 W. 38th St.

Marcus & Millichap has brokered the sale of a 7,000-square-foot retail property, which is part of The Village at Eagle Creek shopping center in Indianapolis. The asset was recently completed and was put under contract before it was delivered. Austin Weisenbeck and Sean Sharko, investment specialists with the company, marketed the listing on behalf of the seller while Josh Caruana acted as the broker of record in Indiana. The transaction closed at $3.2 million.

The property is located at 6929 W. 38th St., near the junction with Interstate 465. It is anchored by Starbucks and has Great Clips and Sprint as co-tenants. The shopping center is also home to retailers such as Target and Marsh as well as a number of restaurants. Downtown Indianapolis and Indianapolis Motor Speedway, which hosts the largest single-day sporting event in the country, are less than 10 miles away.

The surrounding area has been rapidly growing, reaching a population of more than 90,000 within a three-mile radius. Last month, The Mele Group of Marcus & Millichap brokered the sale of an 80,000-square-foot self storage facility located less than 10 miles from The Village at Eagle Creek shopping center.

Image via Google Street View