Fort Wayne, Ind. — Marcus & Millichap has brokered the $3.2 million sale of a 9,500-square-foot freestanding restaurant property in Fort Wayne. Biaggi’s Ristorante Italiano occupies the building, which was constructed as a build-to-suit for the restaurant in 2001, on a net-lease basis. Damien Yoder and Madison Harman of Marcus & Millichap’s Yoder-Harman Group represented the seller, a California-based family trust. An in-state lender provided acquisition financing on behalf of the buyer, an Indiana-based family office. Biaggi’s operates 16 restaurants in eight states. There are six years remaining on its …
Plymouth, Ind. — Friedman Real Estate has brokered the sale of Plymouth Plaza in Plymouth, a city in northern Indiana. The new owner plans to repurpose the 60,000-square-foot retail center into a mixed-use development featuring both retail and self-storage space. Steven Silverman and Ryan Wilner of Friedman represented both the buyer and seller in the transaction.
Portage, Ind. — Marcus & Millichap has brokered the $4 million sale of Diamond Plaza, a 26,524-square-foot retail property in Portage. Tarek Chbeir of Marcus & Millichap secured and represented the buyer, a private investor. Josh Caruana, broker of record in Indiana, assisted in closing the transaction.
Fort Wayne, Ind. — Home décor retailer At Home is opening a new store at 4120 Illinois Road in Fort Wayne. This opening marks 262 total stores across 40 states for the brand, which offers merchandise including furniture, mirrors, rugs and seasonal décor with collections from designers such as Laila Ali, Tracey Boyd, Willow Crossley, Grace Mitchell and Ty Pennington.
Merillville, Ind. — Marcus & Millichap has arranged the $5.3 million sale of Century Plaza, an 18,215-square-foot property located in Merrillville, roughly 40 miles southeast of Chicago. Tenants at the property include Panera Bread. Alex Perez and Chris Garavaglia of Marcus & Millichap represented the seller and secured and represented the buyer, both limited liability companies.
Fishers, Ind. — Thompson Thrift has acquired 62 acres that will be utilized as part of the $550 million expansion to Fishers District in the northeast Indianapolis suburb of Fishers. The firm concurrently sold a portion of the acquired land to the City of Fishers, where the site will be used for the development of a 7,500-seat arena and event center. The overall expansion of Fishers District includes: Slate, a garden-style multifamily community with direct access to Fishers District; the Union, an expansion to the multifamily and commercial options already …
Hammond, Ind. — Marcus & Millichap has arranged the $4.6 million sale of a 14,158-square-foot retail center in Hammond, approximately 30 miles outside Chicago. Built in 2017, the property is leased to tenants including American Renal Associates. Mitchell Kiven and Nicholas Kanich of Marcus & Millichap represented the seller, a developer based in Hobart, Indiana. A 1031-exchange investor purchased the property.
Keystone Group, Indy Eleven to Break Ground on $1 Billion Mixed-Use Project in Downtown Indianapolis
Indianapolis — Keystone Group and the Indy Eleven professional soccer club have announced plans to break ground this May on Eleven Park, a mixed-use development in Indianapolis. Anchored by a 20,000-seat multipurpose stadium that will host Indy Eleven’s home games, the project will transform the southwest quadrant of downtown Indianapolis. The Indianapolis Star reports the project has a price tag of $1 billion. In addition to the stadium, Eleven Park will feature 600 apartment units; 205,000 square feet of office space; nearly 200,000 square feet of shops and restaurants; a …
Wabash, Ind. — Dollar General has renewed its 8,000-square-foot lease in Wabash. Dave Horacek, Madison Wallace and Bill Drinkall of Bradley Co. represented the landlord, A&R Indiana LLC.
Lafayette, Ind. — Marcus & Millichap has brokered the $6.5 million sale of Eastway Plaza in Lafayette, roughly 63 miles northwest of Indianapolis. The 72,000-square-foot retail center is located on Sagamore Parkway. Built in the late 1980s, the property is home to 29 tenants. Jordan Klink of Marcus & Millichap represented the seller, Southmore Square LP, a limited partnership based in Delaware. Klink also procured the buyer, Churchyard LLC, a limited liability company based in Indiana.