Adler Realty Acquires Marsh Plaza
Muncie, IN (November 7th, 2016) – Adler Realty Investments, Inc. (Adler) announced today that they purchased a grocery anchored retail center, Marsh Plaza, for $9,875,000. The 100% occupied, three building project is located at the predominant intersection of McGalliard Road and Wheeling Avenue in Muncie, Indiana. The center benefits from being in close proximity to Ball State University with its 21,000 plus students.
The 87,083 square foot center is anchored by a Marsh Supermarket and includes other national tenants including AT&T, Verizon Wireless, Noodles & Co., Great Clips, and Papa Murphy’s Pizza. Marsh Supermarkets, the leading grocer in the area, was founded in Muncie, Indiana and now has 75 locations in the region. The project is expected to provide investors with consistent cash flow averaging over 9% per year.
“We are excited about the prospects of Marsh Plaza.” said Michael Adler, president of Adler. “This property successfully meets one of our investment strategies of finding the best locations in healthy smaller markets, which should provide our investors a high yielding cash flow return, with a good opportunity for appreciation.”