Colliers has closed the sale of Avalon Crossing Shopping Center, an 82,847-square-foot neighborhood retail center at 6935, 6920 and 7002 Lake Plaza Drive in Indianapolis, Indiana.
Colliers Capital Markets advisors Alex Davenport, Rachel Patten and Alex Cantu, along with Seth Biggerstaff of Veritas Realty, represented the seller, Landmark Properties. The buyer was Ziff Real Estate Partners. “Avalon Crossing benefits from a highly visible location along Binford Boulevard with direct access to I-69 and strong connectivity throughout the Indianapolis metro area,” said Patten. “Investors continue to pursue well-located neighborhood retail centers that offer stable cash flow, a diverse tenant base and opportunities for future value creation through leasing activity.”
Avalon Crossing is home to a mix of national, regional and local retailers, restaurants and service providers, including Starbucks, Dollar Tree, Jimmy John’s, George’s Neighborhood Grill, and Anytime Fitness. Situated near the intersection of Binford Boulevard and 71st Street on the city’s northeast side, the three-building property was 92.63% leased to 18 tenants at the time of sale.
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