1031 Buyer Drives Peak Pricing Retention for Well-Located Asset
November 1, 2016 | by Adriana Pop | Commercial Property Executive
Hanley Investment Group brokered the sale of Raceway Commons, a Panera Bread-anchored shopping destination in Indianapolis.
Indianapolis—A private investor from Franklin Lakes, N.J., is the new owner of Raceway Commons, a 32,748-square-foot multi-tenant retail center in Indianapolis. Baceline Investments of Denver sold the property for $7.9 million.
Eric Wohl, executive vice president of Hanley Investment Group Real Estate Advisors, represented both the buyer and the seller in the transaction.
Raceway Commons is situated on about 4.9 acres at 55 South Raceway Road, at the signalized intersection of Rockville Road (US 36) and Raceway Road on the west side of Indianapolis. This location provides access and visibility, as well as a high traffic of approximately 65,000 cars per day.
