​CHICAGO – Transwestern’s Chicago office today announces it brokered the sale of Lake Park Plaza, located at 4301 S. Franklin St. in Michigan City, Indiana. The 114,867-square-foot center was developed in 1992 and is anchored by Hobby Lobby and Jo-Ann Fabrics. National tenants at the center include Sally Beauty Supply, Batteries Plus and H&R Block. Inland Real Estate Corporation sold the property to RCG Ventures for an undisclosed amount.

“Michigan City benefits from a strong, affluent tourism industry that is not represented in the demographics,” said Janice Sellis, capital markets director at Transwestern. “RCG Ventures has been active in the Midwest recently and has the opportunity to increase the value of Lake Park Plaza through additional leasing.”

Sellis and Transwestern’s Paul Barile, capital markets director, represented Inland Real Estate Corporation in the transaction. The Chicago-based retail investment sales team has a combined 52 years of experience. The team has completed more than $2 billion in retail sales in the Midwest, totaling more than 13 million square feet. RCG Ventures represented itself in the transaction.

ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern and @TWChicagoISG.

 

 

Media Contact:
Elissa Shortridge
312.881.7046
elissa.shortridge@transwestern.com