Gibson Development sold Eastview Commons, a newly constructed, Chipotle-anchored multi-tenant retail center in Terre Haute, Ind., for $5.3M to a Pennsylvania-based private investor. The 9,140-s.f. property, completed in 2025, is fully leased on a net basis and sits as a pad site to a high-traffic Walmart Supercenter. Hanley Investment Group represented the seller in the off-market sale to a repeat buyer.
Property: Eastview Commons in Terre Haute, Ind.
Price: $5.3M
Seller: Gibson Development
Buyer: Pennsylvania-based private investor
The deal stands out for combining several sought-after investment attributes: new construction, a national credit anchor in Chipotle and a shadow-anchored Walmart location within a growing retail corridor. The property also benefits from proximity to Lost Creek Landing, a Target-anchored development currently under construction.
“One of the biggest hurdles was executing the transaction off‑market during a time of market uncertainty and highly volatile interest rates,” said Dylan Mallory, EVP at Hanley Investment Group. “This required identifying a qualified buyer without active marketing exposure. We overcame that by leveraging our relationships with private capital to match the property with a buyer whose investment criteria aligned with the credit tenancy, new construction and strong real estate fundamentals.”
In the end, the buyer was drawn to the long‑term NNN leases, below-market in-place rents and a service-oriented, internet‑resistant tenant mix led by a high-performing Chipotle drive-thru. Additional tenants include Azzip Pizza, Route 46 Liquors and Nailvana.
Terre Haute’s fundamentals — including a stable population base, major employers and the presence of Indiana State University and Rose-Hulman Institute of Technology — were also a major draw, continuing to support retail demand, while ongoing national tenant expansion along the IN-46 corridor reinforces long-term growth expectations.
