EVANSVILLE, IN, February 27, 2020 – Top Midwest investment sales team Patton | Wiles | Fuller Group of Marcus & Millichap (NYSE: MMI), based in Cleveland and Columbus, today announced the sale of Plaza East, a 192,377-square-foot community shopping center located in Evansville, IN, according to Michael Glass, regional manager of the firm’s Cleveland and Columbus offices. The asset sold for $12,000,000.
Craig Fuller, Erin Patton and Scott Wiles, Senior Vice Presidents and Senior Directors with Marcus & Millichap’s National Retail Group, had the exclusive listing to market the property on behalf of the seller, a New York-based private investment fund. Multiple offers were generated and the buyer, an out-of-state private investment group, was also secured and represented by Fuller, Patton, and Wiles. The buyer obtained new financing at closing. Josh Caruana, Regional Manager and Broker of Marcus & Millichap’s Indianapolis office assisted in closing this transaction.
Plaza East is located at the intersection of Green River Road and Lloyd Expressway in Evansville, IN. The property is anchored by At Home and Local Overstock Warehouse, occupying 80,000 and 38,000 square feet, respectively. At Home and Local Overstock Warehouse are both new tenants, with Local Overstock Warehouse relocating from a successful store down the street. Other national tenants at the center include SkyZone, Tuesday Morning, CATO, and Cici’s Pizza.
Year to date, the Patton | Wiles | Fuller Group has sold over 2.3 million square feet of retail shopping centers and net-leased properties, totaling over $210 million in sales dollars.
Shopping Center Business – https://shoppingcenterbusiness.com/marcus-millichap-arranges-12-million-sale-of-shopping-center-in-evansville-indiana/