Marcus & Millichap closed the sale of Coolwood Plaza, a grocery anchored retail center in Valparaiso, Indiana, for $12.4 million.
Mitchell Kiven and Nicholas Kanich, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, an entity affiliated with Chicago-based developer, Weiss Entities LLC. Kiven also procured the buyer, BC Wood Properties. Josh Caruana is the firm’s broker of record in Indiana.
Coolwood Plaza, located at 2252 Morthland Drive, is a multi-tenant retail center anchored by a Strack & Van Til grocery store. The property currently includes 11 tenants, comprising a mix of service, fitness and retail users. It also features a separately leased commissary space operated by Strack & Van Til, which supports food preparation and distribution for 21 regional locations. Positioned at a signalized intersection on U.S. Highway 30, the center is located two miles west of Valparaiso University and near downtown Valparaiso.
