Retail O Indiana

Marcus & Millichap sells 112,000-square-foot shopping center in Indianapolis

Marcus & Millichap sells 112,000-square-foot shopping center,ph01

A private real estate company based out of Fishers, Indiana, paid $3.425 million for Georgetown Plaza, a 112,000-square-foot community shopping center in Indianapolis. The Klink Group of Marcus & Millichap was retained as exclusive advisor to market the property on behalf of the seller, an Indiana limited partnership. The Klink Group also sourced the buyer.

Georgetown Plaza is located at 4829-4919 W. 38th St. between Interstate-65 to the east and Interstate-465 to the west. The Property features 1,000 feet of prime frontage and visibility along West 38th Street and sits in the heart of Indianapolis’ International Marketplace, a 2.5-square-mile area that is locally and regionally known as an international food destination and is home to a diverse variety of businesses, restaurants, grocery stores and shops.

Main tenants of the property include Family Dollar, Rent-A-Center, Uncle Bill’s Pet Center, and Patel Brothers, an Asian-American supermarket chain based in Illinois with over 50 locations throughout 19 states. Patel Brothers just recently signed a long-term lease and recently finished building out its 19,200-square-foot space located at the western end cap of the property.