Thompson Thrift Retail Group Sells Multi-Tenant Retail Building Near Indianapolis
November 12, 2020
Avon, IN
Thompson Thrift Retail Group (TTRG), a wholly owned company of Indianapolis-based Thompson Thrift, announced today that it sold Rockville Pointe, a multi-tenant retail center in Avon for $3.040 million to C.F. Rockville, LLC, a private investor from Bloomington.
Located at 10720 East U.S. Highway 36, the approximately 10,500-square-foot building is fully leased to Tropical Smoothie Café, The Good Feet Store, Spectrum, Papa Murphy’s and Family Allergy & Asthma. Thompson Thrift has owned the building since completing construction in 2009.
“In a challenging deal making environment, Thompson Thrift’s reputation for timely execution matters more than ever,” said Brad Bisser, senior vice president property management with Thompson Thrift. “The buyer was able to successfully fulfill their 1031 exchange and purchase a fully leased center in a strong retail trade corridor.”
TTRG is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. During the past 30+ years, Thompson Thrift has invested more than $2.2 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive retail and multifamily projects.
Dylan Mallory with Hanley Investment Group represented TTRG on the sale. Mallory stated, “We were able to generate multiple offers during the first few weeks of the marketing process. Investors were attracted to the strong real estate fundamentals and high-quality construction of the property.”
