Hanley Investment Group Arranges Sale of 114,867-Square-Foot Center in Michigan City, Indiana

Michigan City, Ind. — Hanley Investment Group has arranged the sale of Lake Park Plaza, a 114,867-square-foot, Hobby Lobby-anchored shopping center in Michigan City. The sales price was not disclosed, but the property was listed for $6.3 million. Eric Wohl and CJ Kiehler of Hanley Investment Group, in association with ParaSell Inc., represented the seller, RCG Ventures. The buyer was a private investment company based near Miami. Lake Park Plaza is located less than 60 miles from Chicago and is situated on 20.8 acres at 4303-4361 Franklin St. in Indiana’s LaPorte County. The property is shadow anchored by Stock+Field and was 91 percent occupied at the time of the sale by tenants including JOANN Fabrics and Crafts and Citi Trends.

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