116th Street Centre

Location: Carmel, IN
Type: Retail
Price: $6,975,750

SMC has provided a $6,975,750 ten-year fixed rate mortgage for the acquisition of 116th Street Centre, a 44,803 SF shopping center located in Carmel, IN, an affluent suburb of Indianapolis. The improvements consist of 3 buildings on 3.97 acres that were constructed in two phases between 2007 and 2008. The property benefits from strong visibility and accessibility given frontage along 116th Street, a major east-west commercial corridor that traverses the submarket and has an average daily traffic count of 29,593 vehicles. Approximately 4.0 million SF of office space is located within 1.5 miles of the property. Daytime employment totals 30,941 within one mile, 72,653 within three miles, and 148,314 within five miles of the property.