Lee & Associates Closes $2.4 Million Retail Sale of City View Shoppes
Torrance, CA – June 25, 2013 – (RealEstateRama) — Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, closed the $2.4 million retail sale of City View Shoppes, a 20,630-square-foot strip center.
Jim Karozos and Bob Lindgren of Lee & Associates’ Indianapolis office represented the seller City View Shoppes, LLC while the buyer Kirkendall Investment, LLC was represented by Nick Kirkendall of Ohio Properties.
Built in 2003, the 8-unit center is fully leased and located at 1047 W. Jefferson Street, adjacent to Johnson Memorial Hospital and City View apartment complex. Representative tenants include Chicago’s Pizza, Bureau of Motor Vehicles, El Mason Mexican Restaurant and Kumo Japanese Steakhouse.
“The investment market in metro Indianapolis has been active with national, regional, and local investors all executing transactions this year,” said Lindgren. “While City View Shoppes was a combination of cash and a 1031 exchange, most deals are the more traditional marriage of equity with debt. Banks and other traditional debt sources have begun to crack open the lending window, helping to accommodate the growth in transactions.”
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 48 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Indiana, Illinois, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Texas and Wisconsin. With a roster of nearly 730 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.
