Cass County Commons
Tenancy Type: Mixed
Lease Type: NNN
Address: 3900 Lexington Road
The Cooper Commercial Investment Group is pleased to announce the sale of Wal-Mart shadow-anchored, Cass County Commons, an 18,600 S.F. property located in Logansport, Indiana. Dan Cooper, President & Broker of the Cooper Commercial Investment Group in Cleveland, Ohio, had the privilege to represent the seller, a private investor out of Indiana, while the Buyer was a private investment group out of Connecticut. The Buyer was found on the first day of marketing the property for sale and the property was sold for $2,875,000, equal to 95% of the list price. Including a 5% Vacancy Factor, the sales price reflected a 7.87% CAP Rate.
At the corner of Mall Road and Lexington Road, the property boasts extremely visible and clear pylon signage, further enhancing the location of the center. Cass County Commons was built in 2011 to accommodate the growing market and upon completion was immediately 100% occupied with well-known tenants, such as Buffalo Wild Wings, Maurice’s, Great Clips, Petsense and Arnold’s Jewelry. All tenants have Triple Net (NNN) leases in place, most have rental increases during their current term, and tenants also contribute towards additional Management/Admin. reimbursements. The Cooper Commercial Investment Group looks forward to working with parties interested in selling or looking to acquire other similar commercial assets and encourages you to contact them for a no obligation evaluation of your commercial property. Visit them on-line at www.coopergrp.com for the most up-to-date listings and information. Stay connected, “Like” them on Facebook and follow them on Twitter @TheCooperGrp.