Tuesday, May 31, 2022

Kroger-anchored shopping center in Crawfordsville, IN sells for $18.55 million

Amy Sands
 

 CHICAGO, IL, May 31, 2022 JLL Capital Markets has closed the $18.55 million sale of Crawfordsville Square, a 273,249-square-foot shopping center anchored by a high-volume Kroger in the Indianapolis suburb of Crawfordsville, Indiana.

 JLL represented the seller, Lamar Companies. Essential Growth Properties acquired the asset.

Clinton Mitchell

The JLL Retail Capital Markets Investment Sales Advisory team representing the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder.

 Crawfordsville Square is anchored by a strong-performing Kroger, which is the No. 1 grocery chain in the U.S. and recently invested significant capital into the location by adding additional grocery components, enlarging the pharmacy, adding a drive-thru and updating technology.


Michael Nieder

The 95-percent-leased center is also home to a synergistic and pandemic-proof lineup of tenants, including Dunham’s Sports, Burke’s Outlet, H&R Block, Shoe Sensation, Pet Supplies Plus and Burger King.

The center is further complemented by non-owned outparcel pads leased to Starbucks, Jiffy Lube, Applebee’s and more.

 Positioned on nearly 36 acres at 1684 Crawfordsville Square, the shopping center is the dominant retail center within, Crawfordsville, a college town 40 miles northwest of Indianapolis.

Crawfordsville Square, a 273,249-square-foot
shopping center anchored by a high-volume Kroger
in the Indianapolis suburb of Crawfordsville, IN.

Wabash College is five miles from the center, and both DePauw and Purdue University are 30 miles away.

Crawfordsville Square is located along Highway 231, the primary north-south arterial roadway, and surrounded by robust neighborhoods with an average annual household income of $70,000 within a five-mile radius.

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Kimberly Steele

PR, Capital Markets

 Agency Leasing and

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