University Shoppes | Across from Kroger Anchored Shopping Center
Indianapolis, IN
Price: $3,800,000Cap Rate: 6.75%Building SF: 8,844 SFLot Size: 0.96 AcreYear Built: 2007Status: Available

Investment Highlights: 

100% Leased Retail Center – 53% Corporate Investment Grade Tenancy: Bank of America (S&P: A+), FedEx Office (S&P: BBB), AT&T and Sun Tan City – Longer Term NNN Leases – The University Shoppes shopping center is a 8,844-square-foot multi-tenant retail building that is 100% leased to Bank of America, FedEx Office, AT&T, & Sun Tan City. This tenant mix provides an investor with a safe mix of corporate and investment grade credit tenancy.

Directly Across from Kroger (S&P: BBB) Anchored Southern Plaza Shopping Center – Desirable Co-Tenants: Ross (S&P: A-), AMC Theatres, Marshalls – Retail Synergy  – The subject property sits directly across from the Southern Plaza Shopping Center (click here for drone video of Center) , a highly desirable Kroger anchored center, with co-tenants that include Ross Dress For Less, Marshall’s, Goodwill Store, rue21, Sally Beauty, Pizza Hut, Great Clips, PNC Bank, Steak ‘n Shake, AMC Theatres, and Harbor Freight Tools. Kroger completed a full exterior/interior remodel in 2017.

Only True Hard Corner Retail Location in the Trade Area – Adjacent to Four-Way Interchange I-465 (107,000 CPD) & Route 35 (22,000 CPD) – Visibility/Access Along S. East St – The Property is ideally located along S. East Street, offering outstanding signage and visibility to 22,000+ cars per day. S. East Street is a major retail and business corridor, with national tenants along this stretch including Shopper’s World, Dollar Tree, Chase Bank, Family Dollar, Save A Lot, AutoZone, Cici’s, Arby’s, and GameStop to name a few.

Located Within 1/2 Mile of Interstate 465 – Quick Access to Downtown Indianapolis, Indianapolis Int’l Airport – Excellent Demographics – The University Shoppes are well positioned less than a 1/2 mile from the on/off ramp to Interstate 465 (107,000 cars per day), for quick access to Downtown Indianapolis (5 miles to the North) and Indianapolis International Airport (13 miles to the West). This strategic location allows the center to pull from over 205,000 people within a 5-mile radius of the property offering a wide-ranging labor pool and outstanding customer draw to the trade area.

Proximity to University of Indianapolis (5,500 Students, 600+ Faculty/Staff) – Top Ranked Regional University – The University Shoppes are located less than a mile from the University of Indianapolis (“UIndy), a 4-year, private, not-for-profit university with approximately 5,500 students and 600 faculty staff. UIndy is ranked in the top tier of Midwest universities by U.S. News & World Report. As of 2018, UIndy was ranked #34 (tie) in Regional Universities Midwest, #21 (tie) in Best Colleges for Veterans, and #66 in Best Value Schools. Nationally ranked graduate programs include the Krannert School of Physical Therapy, School of Occupational Therapy, and School of Nursing. 

Located in Indianapolis – Second Largest City in Midwest – Transportation & Logistics Hub  – The center is located approximately five miles south of Downtown Indianapolis, the capital and largest city in Indiana. It is the second-largest city in the Midwest and the 15th most populous in the United States. Indianapolis is a transportation and logistics hub, as more interstates intersect through the city than in any other in the United States. The Indianapolis International Airport was named the “Best Airport in North America” in 2010 and 2012-2015, and is home to the second-largest FedEx Express hub in the world.


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977