Northmarq Announces Sale of Kimmell Crossing, Walmart Shadow-Anchored Center in Southwest Indiana

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Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Kimmell Crossing, a 44,962-square-foot shopping center located at 636-648 Kimmell Road in Vincennes, Indiana. Shadow-anchored by Walmart, the center was fully leased at the time of sale to 10 tenants. Northmarq’s Ryan Roedersheimer represented the seller, Regency Properties, a developer based in Indiana. A North Carolina-based private buyer, DPPM Management, acquired the asset for approximately $4.6 million. Both parties were involved in 1031 exchanges

“Once again, we were able to help all sides achieve their goals,” said Roedersheimer, Director in Northmarq’s Cincinnati, Ohio office. “The seller had a capital call deadline and use for the proceeds, while the purchaser wanted to expand his portfolio with a stabilized asset that provided a little more yield to it.” 

The property is situated on 4.24 acres off the exit ramp of U.S. Highway 41 and boasts excellent visibility and access via multiple points of ingress/egress, including a signalized intersection. Tenants include Dollar Tree, Maurices, T-Mobile, CATO and other national retailers. 

“Not only did both sides achieve their goals, but the seller is now managing the property for the out-of-state buyer,” Roedersheimer added. “They have developed a great relationship throughout this process. As is true with each project I oversee, it is always the hope that parties come together in a healthy and meaningful way. That’s exactly what we accomplished with this transaction.” 

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About Northmarq:

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.