Avenue at Bennett Farms

Property Type: | Property Status: Sold

Avenue at Bennett Farms

Property Details

Price: $7,350,000

CAP Rate:

Square Feet: 12969

Tenancy Type: Mixed

Lease Type: NNN

Location Info

Address: 11100 & 11150 N. Michigan Road

City: Zionsville

State: IN

Zip: 46077

Property Description

Short Description:
The Cooper Commercial Investment Group is pleased to announce the sale of The Avenue at Bennet Farms, a high-end two building retail asset consisting of 12,969 S.F. The brand-new development is well-positioned in the extremely affluent market of Zionsville/Carmel, Indiana. The Avenue at Bennett Farms a perfect addition to the high-demand market, and the inline portion of the asset is comprised of well-known, national users: Tropical Smoothie (also with drive-thru), Restore Hyper Wellness, Capriotti’s Sandwich Shop, Hand and Stone Massage and Facial Spa, Garbanzo Mediterranean Fresh and Classic Cleaners. The center also includes a free-standing Java House (with drive-thru) guaranteed by Heartland Foods Products Group, headquartered in Carmel. Most tenants are starting on brand-new 10+ year, NNN leases.

Dan Cooper of the Cooper Commercial Investment Group in Cleveland, Ohio, had the privilege to represent the seller, a private Midwest developer who has worked with the Cooper Group on several other transactions. The buyer, a private investment group also out of the Midwest was located directly by Dan within the first 2 weeks of the property being listed for sale. The asset sold for $7,350,000, representing a 5.90% CAP Rate and approximately 99% of list price. Through marketing efforts, the Cooper Group generated multiple competitive offers on the property before selecting the buyer.