TERRE HAUTE, Ind., July 23, 2020 /PRNewswire/ — Thompson Thrift Retail Group (TTRG), a wholly-owned company of Indianapolis-based Thompson Thrift, announced today the $2.2 million sale of a multi-tenant retail building in Terre Haute to Birmingham, Ala.-based Sanders Capital Partners.
Honey Creek Pointe, located along US Hwy 150/41, is a 7,871-square-foot building that is fully leased to Five Guys, ATI Physical Therapy, Royal Nails and Sports Clips and is shadow-anchored by a Wal-Mart Supercenter. Thompson Thrift acquired the land in 2015 and completed construction in 2016.
“Terre Haute consistently ranks among the best ‘Small College Towns’ and is home to several colleges and universities. The tenant mix and location made this project prime for the market,” said Brad Bisser, senior vice president property management with Thompson Thrift. We continue to see keen interest from buyers of quality multi-tenant buildings during these challenging times and continue to evaluate our portfolio to determine which retail projects fit our disposition strategy.”
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.
Carly Gallagher Kelly and Rick Drogosz with Mid-America Real Estate represented TTRG on the sale.
“Honey Creek Pointe offers the new owner a stable investment with its service, medical and food-based tenant mix right off the main thoroughfare in a regional retail market,” said Carly Gallagher Kelly, vice president with Mid-America Real Estate. “Despite the uncertainties in the market, it was a pleasure working with a buyer and seller that were committed to creating a smooth process from start to finish.”
About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Ind., Houston, Texas, and Phoenix, Arizona. Three service pillars drive Thompson Thrift’s success—Thompson Thrift Retail Group which is focused on ground-up commercial development, Watermark Residential which is focused on upscale multifamily communities and luxury leased homes, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail and office projects across the country. We are passionate about our customer’s success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve. For more information, please visit www.thompsonthrift.com.
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SOURCE Thompson Thrift