A Detroit-based SRS Real Estate Partners team completed the $30 million sale of Jefferson Town Center West, a newly developed, 184,663-square-foot, regional shopping center located at 4251 Town Center Blvd. in Jeffersonville, IN. The center, which is 100% leased, will be completed by the end of 2019.
SRS first VPs Michael Carter and Frank Rogers represented the seller, a Louisville-based developer that is developing the entire project. Carter and Rogers also represented the buyer, a private Newport Beach, CA-based investor who was in a 1031 exchange.
The center, sited in a dense, high-traffic retail corridor with nearby national tenants, features a strong lineup of highly successful retailers including include Hobby Lobby, Burlington, TJ Maxx, HomeGoods, Petco, Five Below, and ULTA Beauty, among others.
“This prime property, situated in a thriving area with high consumer draw, represented an outstanding investment opportunity for the buyer,” said Carter.