Investment Overview

Marcus & Millichap is pleased to present for sale Alexandria Shoppes, a 15,900-square-foot community retail center located in Alexandria, Indiana. The Property was built in 2005 and sits on 3.71 acres along State Road 9, a main thoroughfare that connects Alexandria to Anderson and Interstate 69. Alexandria Shoppes is located approximately 50 minutes northeast of Indianapolis and close proximity to northern suburbs Fishers and Noblesville and less than 20 minutes from Anderson and Muncie which is home to Ball State University. The Property is currently 100 percent occupied by various retailers, most of which have been operating at this location for 10+ years. All tenants are currently on gross leases paying an average rental rate of +/-10/ft., which is below average rent for this submarket. Most tenants have exercised all their renewal options with none remaining; this means an incoming investor may have an opportunity to re-negotiate rental rates to market closer to $12-$14 per square foot and/or convert the gross leases to triple-net. Alexandria Shoppes is a great opportunity to acquire a two-building community retail center with an established tenant base that has shown strong commitment to the site at a low price point.