Portage, IN | October 7, 2017 |
Latitude Commercial Real Estate, a firm based out of Schererville, IN has announced the sale of a Hooters property located in Portage, Indiana. The $3.3 million sales price represents roughly a 6.35% cap rate.
The property is currently under construction and the restaurant should open soon. “The property comes with a long-term lease that was signed at closing and is backed by a very reputable company,” says Brett McDermott, Senior Vice President of Latitude Commercial. “It is a strong investment for the Buyer given the price point and the length of the lease.”
Brett McDermott, of Latitude Commercial represented the buyer in the transaction, a local investor. Latitude Commercial Realty is a full service Commercial Real Estate brokerage firm located in Schererville, IN specializing in Northwest Indiana and the South Chicago Suburbs.