Chicago, IL (March 22nd, 2023) – Quantum Real Estate Advisors, Inc. has brokered the sale of a 26,500-square-foot multi-tenant shopping center located at 6630-6678 U.S. Highway 6 in Portage, Indiana. The property sold for $4,000,000. Built in the mid-2000s, the property features institutional-quality construction and attractive aesthetics. At the time of sale, the property is 89% occupied by: Rush Physical Therapy, Indiana Farm Bureau, Edible Arrangements, and other local and national tenants. The buyer is a private, 1031 exchange investor based in Colorado. The seller is a developer based in Illinois. Chad Firsel, President, and Brett Berlin, Vice President of Quantum Real Estate Advisors, Inc. represented the seller in the transaction.
Mr. Berlin had the following comments regarding the transaction, “The buyer was able to acquire a stabilized shopping center with upside in a very strong tertiary submarket. Portage, Indiana is going through a construction boom, with over 1,500 single family home and townhomes under development.” Mr. Berlin continued, “Northwest Indiana remains a very hot market that attracts significant buyer interest.”
Quantum Real Estate Advisors, Inc. (www.QREAdvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management, and financing.