{"id":1004094353,"date":"2014-04-09T12:06:30","date_gmt":"2014-04-09T20:06:30","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=252100"},"modified":"2020-05-18T03:43:18","modified_gmt":"2020-05-18T11:43:18","slug":"time-equities-makes-9-5m-acquisition-of-its-first-retail-property-in-indiana","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/time-equities-makes-9-5m-acquisition-of-its-first-retail-property-in-indiana\/","title":{"rendered":"Time Equities Makes $9.5M Acquisition of Its First Retail Property in Indiana"},"content":{"rendered":"<p><!--[if gte mso 9]><xml><br \/>\n<o:OfficeDocumentSettings><br \/>\n<o:AllowPNG\/><br \/>\n<\/o:OfficeDocumentSettings><br \/>\n<\/xml><![endif]--><\/p>\n<p><!--[if gte mso 9]><xml><br \/>\n<w:WordDocument><br \/>\n<w:View>Normal<\/w:View><br \/>\n<w:Zoom>0<\/w:Zoom><br \/>\n<w:TrackMoves\/><br \/>\n<w:TrackFormatting\/><br \/>\n<w:HyphenationZone>21<\/w:HyphenationZone><br \/>\n<w:PunctuationKerning\/><br 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Name=\"Book Title\"\/><br \/>\n<w:LsdException Locked=\"false\" Priority=\"37\" Name=\"Bibliography\"\/><br \/>\n<w:LsdException Locked=\"false\" Priority=\"39\" QFormat=\"true\" Name=\"TOC Heading\"\/><br \/>\n<\/w:LatentStyles><br \/>\n<\/xml><![endif]--><!--[if gte mso 10]><\/p>\n\n\n\n\n<style>\n \/* Style Definitions *\/\n table.MsoNormalTable\n {mso-style-name:\"Table Normal\";\n mso-tstyle-rowband-size:0;\n mso-tstyle-colband-size:0;\n mso-style-noshow:yes;\n mso-style-priority:99;\n mso-style-parent:\"\";\n mso-padding-alt:0cm 5.4pt 0cm 5.4pt;\n mso-para-margin-top:0cm;\n mso-para-margin-right:0cm;\n mso-para-margin-bottom:10.0pt;\n mso-para-margin-left:0cm;\n line-height:115%;\n mso-pagination:widow-orphan;\n font-size:11.0pt;\n font-family:\"Calibri\",\"sans-serif\";\n mso-ascii-font-family:Calibri;\n mso-ascii-theme-font:minor-latin;\n mso-hansi-font-family:Calibri;\n mso-hansi-theme-font:minor-latin;\n mso-fareast-language:EN-US;}\n<\/style>\n\n\n\n\n<p><![endif]--><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/Shadeland-Station.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-252102\" title=\"Shadeland Station\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/Shadeland-Station.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In a $9.5 million deal, Time Equities Inc. (TEI) of New York has acquired the Shadeland Station shopping center on the north side of Indianapolis. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">A joint venture between Westchester, Ill.-based Tri-Land Developments Inc. and an affiliate of Equity Group Investments was the seller of the approximately 105,000-square-foot property, the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.ibj.com\/shadeland-station-shopping-center-bought-for-95m\/PARAMS\/article\/46911\" rel=\"nofollow\" >Indianapolis Business Journal<\/a><\/em> reports. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Located at 7841 Shadeland Avenue, the center is anchored by Midwest grocery chain Marsh Supermarket and was 85 percent leased at the time of sale. Planet Fitness, Dollar Tree, Alibi&#8217;s Grill, Vintage Natural Foods, 21st Amendment, H&amp;R Block, Subway and The UPS Store are among the property\u2019s tenants, which will be managed by the local office of Cassidy Turley. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Within a five-mile radius, Shadeland Station caters to a population of about 128,000 individuals who earn a median income of more than $56,000.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">&#8220;Time Equities Inc. continually seeks out well-positioned centers in highly-trafficked areas, like Shadeland Station, as we continue to grow our national retail footprint,&#8221; Ami Ziff, Director of National Retail for TEI, said in a news release. &#8220;In this acquisition, we recognized the opportunity to own a stabilized grocery-anchored center with the potential for long-term upside.&#8221;<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Joe Girardi and Rick Drogosz of Mid-America Real Estate Corp.n in cooperation with Mid-America Real Estate-Indiana LLC brokered the transaction on behalf of the seller, while TEI was represented in-house. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Founded in 1966, TEI owns properties in 25 states, four Canadian provinces and Germany. The company\u2019s portfolio consists of approximately 22.1 million square feet of residential, industrial, office and retail space.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In other news, the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.ibj.com\/big-tenant-nearly-completes-towers-sudden-comeback\/PARAMS\/article\/46923\" rel=\"nofollow\">Indianapolis Business Journal<\/a><\/em> reports that the occupancy-challenged 315,000-square-foot Landmark Center office tower in downtown Indianapolis has recently landed two new major tenants.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Angie\u2019s List Inc. plans to renovate and occupy nearly 100,000 square feet of space across four floors, while the Christian Church-Disciples of Christ will take another 60,000 square feet for its 195-person headquarters currently located at 130 E. Washington St.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Ambrose Property Group, the property\u2019s owner, told the newspaper that the tower\u2019s occupancy would now go from less than 50 percent to more than 90 percent.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The company acquired the center, which is the 11th-largest office complex downtown, out of receivership late last year.<\/span><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">Photo credits: www.loopnet.com<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a $9.5 million deal, Time Equities Inc. (TEI) of New York has acquired the Shadeland Station shopping center on the north side of Indianapolis.<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1590,21742],"tags":[1815],"class_list":["post-1004094353","post","type-post","status-publish","format-standard","hentry","category-indianapolis","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Time Equities Makes $9.5M Acquisition of Its First Retail Property in Indiana - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/time-equities-makes-9-5m-acquisition-of-its-first-retail-property-in-indiana\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Time Equities Makes $9.5M Acquisition of Its First Retail Property in Indiana\" \/>\n<meta property=\"og:description\" content=\"In a $9.5 million deal, Time Equities Inc. 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