Retail Q Kentucky

Marcus & Millichap closes 15,000-square-foot retail sale in Louisville

Marcus & Millichap closes 15,000-square-foot retail sale in Louisville,ph01

Quinton Capital, LLC, an Indiana-based limited liability company, paid $1.75 million for Citadel Plaza, a 15,711-square-foot retail center at 8603 Citadel Way in Louisville, Kentucky.

First vice president Jordan Klink and associate Ben Sullivan of Marcus & Millichap’s The Klink Group were retained as exclusive advisors to market the property on behalf of the seller, Vaishnavi, LLC. The Klink Group also sourced the buyer.

Citadel Plaza is situated on 1.24 acres just off of Hurstbourne Parkway, one of the busiest retail corridors in the Louisville Metropolitan Statistical Area. The property is 100 percent occupied with six Internet-resistant, service-oriented tenants.

Five of the six tenants are on NNN leases, providing the landlord with expense reimbursements for common area maintenance, property taxes, insurance and part of the management fee. In addition to the NNN leases, more than 70 percent of the building is leased until April 2024, providing the landlord with strong lease longevity.