LaFayette, Ind. — Cooper Commercial Investment Group has brokered the $10.9 million sale of Market Square Shopping Center, a retail center located in LaFayette, Indiana. An undisclosed buyer purchased the property. Situated on 20 acres, the property totals 132,000 square feet. Tenants at the property, which was 84 percent leased at the time of sale, include Dollar General, the State of Indiana, Indiana BMW, Arni’s Pizza, First Merchants Bank and Rent-A-Center. Dan Cooper of Cooper Commercial Investment Group represented the seller in the transaction.
Bluffton, Ind. — Marcus & Millichap has brokered the $2.4 million sale of a single-tenant retail property in Bluffton, roughly 25 miles south of Fort Wayne. Built in 2023, the building is occupied by Walgreens, with approximately 4.5 years remaining on the triple-net lease. Jordan Klink and David Klink of Marcus & Millichap represented the seller, Eureka Limited Co., and procured the buyer, Valuecom22 LLC, in the transaction.
Grand Rapids, Mich. — Michigan-based food solutions company SpartanNash has acquired Fresh Encounter Inc. (FEI), a 49-store supermarket chain with locations in Ohio, Indiana and Kentucky. This move expands SpartanNash’s retail footprint by 33 percent and marks the company’s second retail acquisition this year, following its purchase of Metcalfe’s Market in April. FEI stores operate under the banners Community Markets, Remke Markets, Chief Markets and Needler’s Fresh Market and have been a food distribution customer of SpartanNash for 58 years. The transaction is expected to close in late November, subject to …
Laval, Quebec and Cranberry Township, Pa. — Alimentation Couche-Tard Inc., the Canadian parent company of Circle K, has agreed to acquire GetGo Café + Markets from Giant Eagle Inc., a supermarket chain based in Pennsylvania. GetGo’s portfolio includes 270 gas station and convenience store locations in Pennsylvania, Ohio, West Virginia, Maryland and Indiana. The company staffs approximately 3,500 employees. “We are excited to welcome GetGo into the Couche-Tard family,” says Brian Hannasch, president and CEO of Couche-Tard. “We look forward to growing together as we learn from and continue GetGo’s innovative …
Valparaiso, Ind. — Marcus & Millichap has brokered the $1.7 million sale of a three-tenant retail outparcel located in Valparaiso. Situated within Cumberland Crossing Retail Center, the property was developed in 2008. Salon Lofts, Venus Nails and Indiana Farm Bureau Insurance Agency occupy the outparcel, which totals 7,541 square feet. Mitchell Kiven and Nicholas Kanich of Marcus & Millichap represented the seller. Josh Caruana assisted in closing the transaction as the firm’s Indiana broker of record.
Marlborough, Mass. — BJ’s Wholesale Club, a Massachusetts-based operator of member retail warehouse locations, plans to open five new clubs in the Southeast and Indiana this fiscal year, which ends Feb. 1, 2025. The new clubs will be located in Maryville, Tennessee, a suburb of Knoxville; Myrtle Beach, South Carolina; Palm Coast and West Palm Beach in South Florida; and Carmel, Indiana, a suburb of Indianapolis. Earlier this month, the company announced its plans to open a new store near Jefferson Mall in Louisville, Kentucky. BJ’s Wholesale Club’s current portfolio comprises …
Mishawaka, Ind. — The Boulder Group has arranged the $9.6 million sale of a single-tenant retail property located in Mishawaka. Best Buy occupies the 50,327-square-foot building on a net lease. Nearby tenants include Target, Apple, Macy’s, Menards, Ross Dress for Less, Walmart, Sam’s Club, The Home Depot, Aldi, Meijer and Costco. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a West Coast-based partnership.
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Nordstrom to Open 26 New Nordstrom Rack Stores
Seattle — Seattle-based retailer Nordstrom has announced plan to open 26 new Nordstrom Rack stores. Openings are scheduled to begin this spring and continue through spring 2025. The sites of the new stores include locations in Arizona, California, Florida, Georgia, Illinois, Indiana, Nebraska, New Jersey, New York, North Carolina, Ohio and Texas.
Carmel, Ind. — Big V Property Group, with partner Equity Street Capital, has acquired Merchants’ Square, a 232,284-square-foot retail center located in the Indianapolis suburb of Carmel. Tenants at the property include Planet Fitness, Flix Brewhouse, Cost Plus World Market, Petco and Dollar Tree. This marks Big V’s first acquisition in the Indianapolis market.
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Avison Young Acquires Madison Marquette Retail Platform, 6.1 Million-Square-Foot Portfolio
Toronto, Canada and Washington, D.C. — Avison Young has entered into an agreement to acquire Madison Marquette’s retail platform for an undisclosed price. The acquisition will include the Washington, D.C.-based firm’s retail property management, marketing and leasing services throughout the U.S.; and a portfolio comprising more than 6.1 million square feet of properties managed and leased by Madison Marquette. Madison Marquette teams will integrate with those of Toronto, Canada-based Avison Young in Los Angeles, New Jersey, Philadelphia, Indiana, Arkansas, Maryland, Virginia, Atlanta and Florida, and the acquisition expands Avison Young’s presence …
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