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Sherman Commons - Retail Investment
Project type
Retail Investment
Date
August 2022 to current
Location
Indianapolis, IN
Role
Buyer Broker, Leasing Broker, Property Management, Investor Advisory
Shook Realty Group represented an investor on the purchase of Sherman Commons I & II from 2 different sellers. SRG's client identified the are of Sherman Avenue and E Washington Street in Indianapolis as a target market for retail and neighborhood investment. SRG represented the Buyer in the initial acquisition of Sherman Commons I, a 57,000 SF retail center plus 9+ Acres of land, with Save-a-Lot grocery and Marion County Election Board as the 2 tenants. Stage 2 added Sherman Commons II, a 24,000 SF set of 2 retail centers that share a parking lot. In total, Sherman Commons comprises approximately 82,000 SF of retail space serving the near east side community surrounding Sherman & Washington.
SRG has managed and leased Sherman Commons since acquisition, and maintains an average occupancy of 98% which renewing anchor tenants and increasing rents throughout.