Indianapolis grocery-anchored retail center sells for $22.283M
Tri-Land Properties sold a neighborhood retail center anchored by Kroger and Ross Dress for Less in Indianapolis, Indiana.
First National Realty Partners acquired Southern Plaza from Tri-Land Properties who was represented by Prodigy Real Estate Group Co-Founder, John May. This 266,000 square-foot, neighborhood shopping center is anchored by a high-performing Kroger in the growing Indianapolis market of Indiana. Some of the other tenants at the property include Ross Dress for Less, Harbor Freight, Oak Street Health, Goodwill, rue21, Qdoba, CosmoProf as well as others. Additionally, the property has approximately 60,000 square feet of retail space available for leasing.
Located at 4200 & 4202 S. East St., Southern Plaza is located approximately 5 miles from downtown Indianapolis at the intersection of Interstate 465 and US-31 (East Street). Traffic counts exceed more than 140,000 vehicles per day and is showed anchored by AMC Indianapolis 16+ IMAX theater.
About Tri-Land Properties
Established in 1978, Tri-Land Properties is a Chicago-based owner/operator with a deep history of value-added redevelopment, best known for its high-quality repositioning of existing underperforming retail shopping centers. The real estate strategy focuses on necessity-based assets (grocery/drug anchored), in infill locations in major Midwest, Mid-Atlantic and Southeast markets. The company has an established, vertically integrated platform, with a full complement of real estate operating capabilities. For further information, visit www.TriLandProperties.com
About First National Realty Partners
First National Realty Partner (FNRP) is a real estate private equity firm that seeks to identify and invest in high-quality retail assets. The company was founded by Anthony Grosso and Christopher Palermo, two experienced institutional real estate professionals, and is headquartered in Red Bank, New Jersey. According to their website, “We are uniquely equipped to provide our investor-partners with best-in-class investment opportunities and white-glove service. We’re poised to offer our national-brand tenants access to exceptional markets. And we’re excited to be able to offer our team limitless career advancement and earning opportunities.” For further information, visit www.fnrpusa.com
About Prodigy Real Estate Group
Prodigy Real Estate Group is the result of the January 2020 merger of two of the Midwest’s most respected real estate firms – May Real Estate LLC and Jerome H. Meyer & Co. The firm specializes in real estate brokerage and management services. For further information, visit www.prodigyreg.com