Investment Overview

Marcus & Millichap is pleased to present for your acquisition review Tara Plaza in Indianapolis, Indiana. Tara Plaza is a 38,659 square foot shopping destination located at W. 34th Street, directly across from Northwest Middle School. The strip benefits from the more than 24,450 vehicles that drive by each day. Driving the market will show the Plaza is located on the path of progress. Indianapolis’ growth is evident; there’s a population of more than 230,000 people within 5 miles. The current daytime population within 3 miles is 86,759, providing the perfect perspective clientele for tenants like Los Dos Hermanos. Family Dollar recently renewed their lease carrying them past 30 years on site. Purchasing power of the surrounding population is a healthy at $61,690 offering plenty of disposable income to support the center’s tenants. Nearby, the International Marketplace Coalition has been driving the revitalization of the Lafayette Square area. The nonprofit has worked to drive investment to the near west side. Announced this year, Sojos Capital is spending $200 million to redevelop the nearby Lafayette Square Mall. Investors can enjoy a predictable, passive income with some leases providing landlords to recoup management fees; add to that the peace of mind that comes the site’s excellent traffic counts. The current owner has recently focused on capital improvements with special attention to the roof, parking lot, and facade providing a boost to the probability of tenants’ long-term commitment to the complex on top of their already low rents. The strong tenant lineup, staggered leases already in place, growing market, and location’s guaranteed traffic make Tara Plaza perfect investment opportunity.