Stan Johnson Company Arranges Sale of Honey Creek Marketplace in Terre Haute, Indiana for $22.3 Million

Honey Creek Marketplace

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Honey Creek Marketplace, a 107,733-square-foot shopping center located at 4428 South U.S. Highway 41 in Terre Haute, Indiana. The center is anchored by Fresh Thyme Farmers Market and Academy Sports + Outdoors. Mark Lovering of Stan Johnson Company represented the seller, a Texas-based developer. The buyer, an institutional investor based in Wisconsin, was represented by Stan Johnson Company’s Christian Tremblay. The center sold for $22.3 million reflecting a 7.38 percent cap rate.

“Honey Creek Marketplace is an attractive grocery-anchored center featuring a strong cast of first-generation tenants on long-term leases,” said Lovering, Associate Director in Stan Johnson Company’s Chicago, Illinois office. “This allowed us to source an internal buyer on an off-market basis and successfully close within the seller’s narrow timeframe. Cap rates continue to compress for well-located grocery-anchored centers, and we expect this trend to continue through the first half of 2022.”

The property was constructed in 2015 on 4.8 acres and is fully leased to seven tenants. Located in southern Terre Haute, the shopping center is strategically positioned in a major retail corridor of the city and is surrounded by neighboring national retailers including Kroger, Hobby Lobby, Lowe’s and many others. With close proximity to U.S. Route 150 and Interstate 70, the site offers excellent access to downtown and its surrounding residential neighborhoods.

“This was a great off-market opportunity for my client to purchase a recently constructed grocery-anchored shopping center,” added Tremblay, Associate Director. “Given the demand for these types of assets, being able to source this deal internally illustrates the benefits of the Stan Johnson Company platform. From start to finish, both the seller and buyer made this an incredibly smooth transaction, and we are very excited to get it across the finish line.”

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About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $45 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.