Indianapolis-area retail center sells for $14.6M
JLL Capital Markets arranged the sale of the 77,871-square-foot Muncie Marketplace in Muncie, Indiana
CHICAGO, Sept. 13, 2022 – JLL Capital Markets announced today that it has closed the $14.6 million sale of Muncie Marketplace, a 77,871-square-foot retail center located near Indianapolis in Muncie, Indiana.
JLL represented the seller, AlbaneseCormier Holdings, LLC. War Chest Real Estate, LLC acquired the asset.
Built in 2014, the 100-percent-occupied center is leased to seven different national tenants, including Dick’s Sporting Goods, Michaels, Five Below, McAlister’s Deli, Kay Jewelers and GameStop.
Situated at 600-636 E McGalliard Rd., the property is strategically located adjacent to a high performing Target and the 636,000 square feet Muncie Mall along the McGalliard Road Retail Corridor, which serves as the primary retail nucleus for the Northeast Indianapolis consumer base. Furthermore, many of the national retailers located along McGalliard Road do not have nearby locations, creating ideal anchor spacing that amplifies the trade area. Muncie Marketplace is just three miles from Ball State University, which has a total enrollment of approximately 22,500 students and 1,250 staff members.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder, along with Vice President Tim Murray.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About AlbaneseCormier Holdings, LLC
Since 2001, AlbaneseCormier has been acquiring, managing, leasing and developing real estate properties across the United States. Through a clear vision, selective choices, creative hiring, skilled management and a dedicated staff, AlbaneseCormier has been able to consistently grow a sustainable business that has exceeded 6 million square feet of real estate since inception. As the industry continues to evolve, we are positioned to take advantage of opportunities as they are presented to us.