Latitude Commercial, a firm based out of Crown Point, IN, has completed the sale of a retail center located at 9769 East US Highway 36 in Avon, Indiana. The 8,350 SF building is currently 100% occupied by Denny’s, Xfinity and Smoothie King. The property sold for approximately $4.54 million, reflecting a 6.4% cap rate. The buyer, an individual investor from Indiana, was represented by Brett McDermott of Latitude Commercial.
“This newly constructed property was an ideal fit for this particular investor, who is focusing on centers with long-term leases in place,” said Brett McDermott. “The combination of strong tenants in a great retail trade area gave this buyer comfort in the quality of this asset for years to come.”
Latitude Commercial Realty is a full service Commercial Real Estate brokerage firm located in Crown Point, IN specializing in Indiana and the South Chicago Suburbs.
