Indiana

Valparaiso, Ind. — Marcus & Millichap has brokered the $12.4 million sale of Coolwood Plaza in Valparaiso. Anchored by a Strack & Van Til grocery store, the shopping center is home to 11 tenants and totals 104,234 square feet, according to CommercialCafe. The property is also home to a separately leased commissary space operated by Strack & Van Til that supports food preparation and distribution for 21 regional locations. Mitchell Kiven and Nicolas Kanich of Marcus & Millichap represented the seller, an entity affiliated with Chicago-based developer Weiss Entities LLC. …

Shelbyville, Ind. — North Carolina-based Prudent Growth Partners has acquired Rivergate Shopping Center, a 45,314-square-foot shopping center located in the Indianapolis suburb of Shelbyville for $4.4 million. Farm equipment supplier Rural King shadow anchors the property, which was built in 1985 and renovated in 1995. Rivergate Shopping Center was 93 percent leased to a mix of retail, fitness, financial and medical service-based tenants at the time of sale.

Muncie, Ind. — Evansville, Indiana-based Regency Properties has acquired Muncie Towne Plaza, a 173,773-square-foot shopping center in Muncie. Developed in 1997 and renovated in 2005, Muncie Towne Plaza was fully leased at the time of sale. Tenants at the property include Kohl’s, T.J. Maxx, Old Navy, Ulta Beauty and Shoe Carnival. The property includes a 1.1-acre undeveloped land site immediately adjacent to Old Navy, which Regency plans to develop into a single- or multi-tenant space. The parcel can accommodate a 50,000-square-foot development. The purchase price and seller were not disclosed.

Indiana — Marcus & Millichap has arranged the sale of three retail centers totaling $5.4 million in Indiana. The centers are Northville Plaza, Kendallville Plaza and Michigan Road Shops. Northfield Plaza in Elkhart, located 15 miles east of South Bend, sold for $1.6 million; Kendallville Plaza in Kendallville sold for $905,000; Michigan Road Shops in Indianapolis sold for $2.9 million. Jordan Klink and Mike Banwell of Marcus & Millichap marketed the properties on behalf of the undisclosed seller.

Merrillville, Ind. — Marcus & Millichap has brokered the $4.2 million sale of Crossroads Plaza, a grocery-anchored retail center in Merrillville, roughly 30 miles outside Chicago. Ruler Foods, Trader Buck’s and Treasure Hunt Deals anchor the center, which totals 184,721 square feet. Additional tenants at the property include Family Dollar, Subway, Papa Johns Pizza and Rent-A-Center. Eric Abbott and Andrew Margulies of Marcus & Millichap, along with Adam Sklaver and Philip Kates of Marcus & Millichap’s Commercial Property Auction Services, marketed the property on behalf of the seller and procured …