Retail O Indiana

SRS closes $30 million shopping center sale in Indiana

SRS closes $30 million shopping center sale in Indiana,ph01

SRS Real Estate Partners National Net Lease Group of Detroit has completed the $30 million sale of Jefferson Town Center West, a newly developed, 184,663-square-foot, regional shopping center at 4251 Town Center Boulevard in Jeffersonville, Indiana. The center, which is 100-percent leased, will be completed by the end of 2019.

SRS National Net Lease Group First Vice Presidents Michael Carter and Frank Rogers represented the seller, a local Louisville-based developer who is developing the entire project. Carter and Rogers also represented the buyer, a private Newport Beach, California-based investor who was in a 1031 exchange.

The center, sited in an extremely dense, high-traffic retail corridor with nearby national tenants, features a strong tenant line-up of highly successful retailers including include Hobby Lobby, Burlington, TJ Maxx, HomeGoods, Petco, Five Below, and ULTA Beauty, among others.

Located directly across the Ohio River to the north of Louisville, Kentucky, Jefferson has a population of approximately 48,000, and offers excellent shopping and dining opportunities. The city is home to historically significant areas, such as the mid-to-late 19th century Jeffersonville Historic District, Central Business District, and the downtown riverfront. The Louisville International Airport is nearby.