JLL has completed the sale of the 51,000-square-foot Regal Cinemas Galaxy 14 multiplex in Indianapolis.
Rebecca Wells, an executive vice president in the Indianapolis office and managing director Michael Hochanadel in the Columbus, Ohio, office completed the sale on behalf of the seller, GPI Theatre Properties I. The buyer was One Liberty Properties, Inc. The price was not disclosed.
The single-story, 14-screen movie complex is located at 8105 E. 96th St., an affluent area within the rapidly growing retail and commercial real estate market of Fishers. The site, which also has two outlots that are being sold separately, is along Interstate-69, one of the busiest highways in Indianapolis.
The multiplex has been undergoing a $2.5 million renovation, part of the overall Regal initiative to install luxury seating in about 20 locations across the country by the end of 2014.